This time around, though, things are a little different.
“Although it may seem like we are right back to where we started, brands are not back to square one. Brands that have been successful this past year or so have had a full year of the pandemic crisis to adapt and evolve strategies to the changes in consumer behavior in order to be successful,” says Jay Kulkarni, founder and CEO of the digital media and marketing services provider Theorem.
The Direct-to-Consumer Mindset
“Brands are also seeing the benefit of selling directly to consumers, as the first-party data that they acquire is invaluable,” Treanor says. “With more brands adopting a DTC model or shifting completely to DTC, they truly get to know their customers, which allows them to create more customized experiences—everything from new product offerings and emails to subscriptions and website experiences.”
In a survey, Treasure Data found that 67% of consumers have recently purchased a product directly from a brand instead of a big-box retailer, and 66% of consumers say they’re buying online now more than they did before the pandemic.