Industries making up the Stay-At-Home economy have long provided consumers with services and products that provide value based on convenience and comfort, and now these industries are seeing unprecedented increases in demand and revenue due to the quarantine.
Since the outbreak of COVID-19, Streaming Services are estimated to increase by 29%, Gaming download and hardware sales have increased by 35%, and E-Commerce transactions in North America have spiked by 80%.*
With the Coronavirus Recession in full swing, what does the current landscape look like for the stay at home industries, and how have they adapted and positioned themselves to leverage the skyrocketing demand for (and reliance on) their products and services?
From gaming and streaming, to dating and food delivery, brands have been forced to adapt in numerous ways in response to an unprecedented paradigm shift in consumer behavior to varying degrees of success.
What have consumers been saying about the companies that make up the stay-at-home economy on social media, and why does it matter?
How can brands better position their marketing communications and strategies to not only survive this difficult period, but thrive in it?
There are tools to help businesses weather this storm. By monitoring discussions online brands can discover invaluable insights on the latest trends and developments in consumer behavior, applicable to brands in any industry.
*Sources for these insights include:
Game Daily: Coronavirus leads to 35% growth for the video games industry
Multichannel.com: Convergence: OTT Revenue Will Grow Despite COVID-19
Eonsultancy.com: Stats roundup: coronavirus impact on marketing, e-commerce & advertising