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Did you know how to the Coronavirus pandemic on digital consumption impact in the world? No? Here you will find the answer. The current novel coronavirus pandemic and subsequent lockdowns are changing the dynamics of businesses globally. Supply chains are facing brutal obstacles due to travel restrictions and many businesses have been forced to stop their operations. Today, most industries continue with their work virtually by assigning work from home to their employees.
With most people at home, there has been a significant impact on consumer behavior as far as digital consumption is concerned. In this article, we decode the effect of the coronavirus pandemic on digital consumption. But before that, we need to classify some factors.
We can broadly classify the workforce as:
- Employees working from their homes.
- Employees whose work and salaries are impacted.
- Employees that have lost their jobs.
Moreover, we can classify the overall products and services as:
- Essential supplies
- Supplies for luxury
Impact on Digital Consumption through Different Facets:
Based on the analysis of the reports from reliable sources, we can see a drastic rise in digital consumption. During the pandemic, people have ample free time, and many digital platforms are serving as quintessential sources of information and entertainment. Let us go through the extract of this finding considering a variety of facets of digital consumption:
Video Streaming Apps:
Video Streaming Applications and Over the Top, On-Demand, Subscription-based media services have seen a huge surge during the pandemic. OTT Service Providers were quick to capitalize and have been constantly supplying on-demand videos like web-series and TV shows that the audience can watch as per their choice. So, the growing digital consumption in this segment is creating an opportunity for the brands and marketers to engage and tap potential buyers. Digital Consumption in this segment has almost doubled during the pandemic.
Marketers haven’t been sleeping either, they were quick to roll out brand stories and comms within the context of the pandemic. Nowadays anyone can easily make video ads using simple and accessible online video editor software to make impressive promo videos, product videos, and advertisements.
As most people are at home, social media has become a vital means of communication. Though people cannot meet and get together physically, many social media platforms have emerged as a strong bridge to bring them closer virtually.
Apart from communication with one another, people use social media to share information and for entertainment as well. Therefore, digital consumption through an added number of users and the duration spent by users on social media is growing.
Playing online multiplayer games is also a significant and growing trend during the pandemic. This is another source of the immense growth of digital consumption. As there are restrictions on organizing tournaments of outdoor and indoor games, online gaming is replacing these modes bringing competitive players together virtually.
Online games were already a huge market globally. The coronavirus pandemic is bringing tremendous growth in this segment as the users and their time spent in playing games is drastically growing during this phase.
E-commerce and m-commerce:
Lockdown in many areas across the globe also brings immense opportunity for e-commerce portals. These companies are committed to supplying groceries, other essentials, and millions of other products to the doorstep of the buyers. While attracting the target audience, the use of informative videos is also growing as people are becoming increasingly accustomed to watching videos over reading write-ups.
Even the smaller players are using software like picture video-makers to create fabulous product promos and videos. Again, the accessibility of many reputed e-commerce portals on smartphones through their apps makes it easy for newbies to place their orders through some taps on the screen.
Apart from these facets, there was a drastic rise in the visits to websites of government organizations for various services and updates regarding the coronavirus pandemic. Another important factor is the online news channels and TV channels broadcasting news. All in all, during the coronavirus pandemic, digital consumption has grown like never before.
An Opportunity for Digital Marketers:
As you have seen, the growth in digital consumption during pandemics perfect for digital marketers to tap into a new audience for a long-term relationship. This relationship would continue even in the post-pandemic world if the marketers are able to forge a relationship of trust and reliability with the buyers or users.
Digital Marketers can grab this opportunity to launch well-designed campaigns to improve brand awareness. Those who shift their marketing strategy to cope up with the scenario are bound to thrive.
Opportunities Hidden in The Challenge
The companies and brands need to strategize according to the significant aspects:
Bringing Products at The Doorsteps:
As we have seen, people want everything they need, right from groceries to pizza, at their doorsteps. The marketers need to redesign their strategy to meet this expectation of the consumers.
Entertainment at Homes:
Apart from conventional TV channels, increased digital consumption brings an opportunity for filmmakers to allow consumers to watch movies, series, and shows at home. Many films may miss theatre releases. Again, apart from films, virtual tours of popular tourist locations would be another aspect.
Bringing Schools to Homes:
Online learning is another need for a large part of the population that is in the learning phase. Apart from regular schooling and university courses, there would be great prospects for skill enhancement programs, short-term certifications, virtual learning of arts and crafts, and much more during and after the pandemic.
Coronavirus pandemic On Digital The Bottom Line
Whenever the dust settles, be it a few weeks or a few months, we may be in a different world altogether. This limbo can be the golden opportunity marketers need to cleverly derive their strategies to pitch their products to the right people at the right time, or they could end up as golden ducks who missed out. It’s a matter of perspective and adaptability, and we can already see the ones who are agile climbing the ranks. So, the impact of increased digital consumption will bring boundless opportunities and scope for immense growth to brands as well in the long run.