If ever there was a year of rapid disruption and transformation, 2020 was it. We didn’t just spend more time online, we completely changed the way we manage our day-today existence.
Lifestyles changed dramatically, and out-of-home activities like working, learning, and shopping became the domain of the household. For businesses, being consumer centric today means thinking about people who consume primarily from home.
Thankfully, the day when we’ll be able to reenter stores without real or existential threat is on the horizon. And while that moment will be very welcome, consumers will still use the hybrid purchasing options they adapted to during the pandemic, like buy online, pick up in-store and curbside pickup. And they’ll still enjoy shopping online.
As COVID-19 vaccines become widely available and the global economy gets back on its feet, look for innovative products, marketing, and distribution models to come to the fore. In 2020 consumers were pushed to embrace what was available and what was possible. Now, they are ready for anything.
We surveyed 1,000 senior marketing executives across different industries around the world to learn about their plans for 2021.
Top findings from the study include:
Sixty-one percent of the marketers from the various industries we surveyed reported a decline in revenues compared to 2019. However, the top cited positive outcome of the pandemic was increased website sales.
For retail specifically, Criteo data shows that despite a tumultuous year, ecommerce sales were up +14% globally in December 2020, compared to one year prior.*
Seven out of 10 respondents in our study agreed that the marketing function in their organization became more important during the pandemic. Now more than ever, the pressure is on for marketing teams to drive results across every stage of the consumer journey, from customer acquisition all the way through sales and retention.
*Criteo data, Retail, December 2020 compared to December 2019.
Despite a rapidly changing landscape, 87% of marketers plan to spend the same or more on a proven performance driver – paid display / retargeting on publisher sites and apps – in
At the same time, many marketers also intend to diversify their hard-won budgets across the open internet: 43% plan to spend more on retail media in this year than they did in 2020.
The need to connect all touchpoints where consumers discover, evaluate, and buy became even more pronounced in 2020, and businesses are responding. More than one-third of marketers plan to increase spend on omnichannel and paid video in 2021.
More than half said the same about marketing budget commitments and co-marketing campaigns.
More than one-third plan to increase their omnichannel strategy budgets in 2021.
Not surprisingly, marketers cite gaining new customers and keeping current ones as their top objectives in 2021. But product and operational innovation is also top of mind: 45% say expanding into new offerings is a core objective, and about four in 10 are keen to explore new business models.
Businesses are more tuned in than ever to how they’re being perceived in a non-stop news cycle. A full 64% of marketers say that not showing up next to hateful or fake content is a top concern. One third say their campaigns are too dependent on Facebook, Amazon, and Google.
A separate Criteo survey found that many consumers also have reservations about social media, from seeing posts with fake news and misinformation to worrying about how their privacy and personal information is handled.
While Gen Zers have concerns about harassment and stalking, for all generations in the US, fake news is the main concern.
Businesses are now bracing for a year of recovery or more. In 2021, marketers will be focused on driving tangible results in a world where more consumers than ever are online, and the economic and health impact of COVID-19 is still a concern.
While some things remain difficult to predict, like what seasonal sales will look like during specific moments of the year, there are still several actionable strategies that marketers can implement today to start seeing results tomorrow.
The people who already know and love your company are the most powerful audiences to target as your business bounces back.
There are endless opportunities to connect with new audiences online as more people want the
convenience of delivery or buy online, pick up in-store.
Spend your marketing dollars to drive your exact goals without putting your brand at risk.
CRITEO MARKETING SOLUTIONS
Connect with consumers as they discover and explore your business. Then help them find the perfect products and services to buy.
RETAIL MEDIA BY CRITEO
Influence consumers as they browse retailer websites and ecommerce marketplaces, promote your products in relevant ways, and tie media spend directly to sales.