verde live: july 27 - weekly trends in the media and consumer behavior impacting specialty brands

VERDE LIVE: JULY 27, 2020

This week on Verde Live, Kristin talks about how brands and the media need to be connecting with consumers online (person-to-person), the new Black Media Initiative, and how COVID-19 accelerated values-based purchasing in the U.S.

Top Takeaways:

In a recent interview with Kelly Ramirez - the founder and chief growth officer at Prismatic - Kelly shares that during Q1 of 2020; 54% of revenue for the brands she works with was coming from e-commerce, 70% of that through mobile. COVID-19 moved most everything we are doing online. As a result, brands and the media need to be creating a human connection, and personalized online experiences with consumers.
Consumers are looking to connect with, and trust the content they are consuming. Maybe that looks like putting the editor forward facing, creating more engaging, “un-polished” content, being transparent with your processes, or publishing hyper-personalized content that consumers can connect with.
Last week, the Center for Community Media announced a new Black Media Initiative. The new program, headed by Aaron Foley, is working on a report of the Black news ecosystem in the U.S., and will provide resources and programming to Black publications and journalists - to elevate and support Black publications.
In consumer behavior trends this week, two recent articles by Retail Touch Points and Suzy Consumer Insight share how COVID-19 and the Black Lives Matter Movement have impacted - accelerated really - values-based purchasing in the U.S.
Both articles show that consumers are eager to align their spending with brands, businesses and organizations that mirror their prioritized ethics.
- 65-percent of consumers are more likely to support a brand that cares about the same social issues they do.
- Consumers are researching and purchasing more from black-owned businesses - nearly half.
- Half of consumers surveyed are wanting brands to stand up for social issues.