verde live: november 11, 2020
how news of the election and potential covid-19 vaccine impacted consumer confidence and the future of RETAIL, livestream shopping
Welcome to Verde Live, our weekly show where news headlines are made relevant to the specialty business leaders comprising of our incredible audience at Verde and the Channel Mastery podcast. Every Wednesday we go live with headlines and trends in media, consumer behavior, retail and marketing - to help specialty brands navigate the seismic shifts in business today.
In this weeks episode, Kristin looks at how the recent election and news of a potential COVID-19 vaccine impacted consumer confidence, how social media channels plan to put a stop to misinformation about the COVID vaccine and the future of online shopping - livestream shopping and its popularity in China. Tune in below for more!
key takeaways:
Reuters is giving President-elect Joe Biden credit for record highs in worldwide stock indexes. While Biden can take some credit, the primary motor powering the upturn is the promising news about the COVID-19 vaccine.
Calling it a light at the end of the tunnel, Chris Zaccarelli, chief investment officer at Independent Advisor Alliance said: “The vaccine is really driving markets. ...It’s a game-changer in terms of consumer spending and consumer behavior and it augurs well for future economic activity as we begin to see a reversal of trends caused by the pandemic.”
Vox shared a very real concern over the media and news of the vaccine. Misinformation about the vaccine has already become a problem on social media.
To ensure they are promoting accurate information around the potential COVID-19 vaccine, social media companies are turning to local health officials, the Center for Disease Control and World Health Organization, as well as reliable news sources, as the official sources of health information if and when the vaccine is announced.
Social media might be getting better at clamping down on misinformation, but a recent report by Axios shows that the networking platforms are NOT doing a great job of bringing Americans together.
Axios author, Scott Rossenburg, predicts that social platforms will become more polarized as people seek out like-minded friends and news on social media. A good example from this election is Parler, a Twitter-like social network that has become increasingly popular among conservative social media users.
In honor of Single’s Day, November 11, we have a quick article from Modern Retail on what we think could be the future of retail - livestream shopping.
Livestream shopping generated an estimated $63 billion in sales in China in 2019, compared to less than $1 billion in the U.S. Seeing the success that livestream shoppings has had in China, U.S. retailers have been trying to jump on board - starting with the mega e-commerce marketplace, Amazon.
Join Kristin for the next Verde Live on Wednesday, November 18, and sign up for the below newsletter to be the first to know when the next episode drops!