Ecommerce: The Path Forward
More than one recent Media Group Online report has suggested our lives during the first 8+ weeks of the pandemic (from early March into May) would have been entirely different – and more chaotic and possibly dangerous – without e-commerce. The surge in shopping was unprecedented and caused many problems for online retailers. Nonetheless, both the biggest online retailers and even some small, local stores seemed to respond and recover relatively quickly.
Boomers Are OK with Being Boomers
Undoubtedly, many Boomers would agree the “OK Boomer” meme is a minor skirmish compared to the classic “Generation Gap” they experienced during the 1960s. Despite, these age-old generational disagreements, Baby Boomers are generally in a very good place. Thousands are retiring daily, but they and those who are still working are more active, healthier and more involved in social issues than previous generations.
TV: The Best Seat for Live Sports
Many rabid sports fans revel in the opportunity to support their favorite teams by wearing their gear to games, fueling their enthusiasm with tailgate parties and cheering wildly from the stands. Attending many sporting events is either prohibited or limited, however. Sports fans are relegated to the safety of their homes and their big-screen TVs – and a much more comfortable seat than any in a stadium or arena.
Restaurants: Ready to Rebuild from Ruin
Few retail sectors have suffered as much from the pandemic as restaurants. It doesn’t just affect the cash register till, but also employment (often teens and younger adults), payroll and sales taxes and tourism. Although some major chains may experience significant revenues losses, and even bankruptcy, it’s the independents and mom-and-pop establishments which are experiencing the brunt of state-mandated closures.
TV and the Competition
Most media have recovered as well as could be expected since the start of the pandemic, despite significant losses of ad spending and shifts in people’s media use. TV was able to benefit from its ubiquitous position, as viewers, including young adults, planted themselves in front of their TVs for news and entertainment to fill their additional time at home. Eventually, digital media benefited significantly (and still is), as well as many retailers from
Convenience Stores: Transforming with Their Communities
It may be a metaphorical stretch, but convenience stores are like the general store and travel waystation of the 19th century: they are essential to their communities, but as with so many retail sectors during the pandemic, the transformation already begun must accelerate so convenience stores remain vital. Some convenience stores have been critical during the pandemic, such as the Arivaca Mercantile in Arivaca, AZ, as the nearest gas station and grocery store are more than 35 miles distance.
Cultural Influences of Consumer Markets
Understanding today’s consumers is crucial for brands, retailers – and media sales AEs. New niches of consumers are being added to the American “melting pot,” bringing their cultural influences, spending behaviors and media choices into the marketplace. New technologies are helping, such as NextGen TV, which will make it easier for local retailers, but especially minority businesses, to engage with neighborhood audiences who are more likely to buy their products and services.
The New Day of Sales and Sales Management
The fundamental purpose and goal of sales and sales management haven’t changed, but the sales process must adjust, and often significantly, to the unique experience of the pandemic and what the post-pandemic period will become. For media sales, specifically, the challenge is regaining an understanding of today’s local economy. Many local businesses/advertisers have closed their doors permanently or have had to change their business model, often radically.
Here Comes the Boom!
Every human wants a return to some form of normalcy, but it will be a “new normal.” Many reports and analyses indicate the second quarter of 2021 is when the “new normal” will start to take hold and then accelerate during the second half of 2021 and into 2022. Many economists in the private and public sectors are forecasting a booming economy, both globally and for the US. Some predict the boom of 2021+ will rival the boom years of the mid-1980s.
Overlook Generation X at Your Peril
In our rush to stereotype and pigeonhole living, breathing humans for a variety of reasons, members of Generation X have been designated with the birth years of 1965–1980, or 41 to 56 years of age as of 2021. There may be fewer members of Generation X than other generations, but they are a very valuable consumer group because of their career status, above-average income and a focus on family life, among other characteristics.
TV: Better Positioned for the Future
Businesses and media in all their forms are preparing for what comes next. Some will stumble into that future, others will accelerate and others will remain steadfast – always familiar, comforting and welcoming. TV is the best example of the latter. TV is not immune to the popularity of streaming video services and content accessible from many devices, but it remains too healthy to succumb. TV is still the most trusted or one of the most trusted advertising media.
Exploring the Expanding Audio Medium
Radio is facing the challenges of streaming services, new sources of digital audio content and podcasting. Radio’s business challenges are more complex, including heated debates about deregulation and traditional infighting among broadcast companies and local stations. As Facebook and others actively develop the “metaverse,” the audio medium will expand even further. Radio must present a united front to be fully integrated into any future metaverse while maintaining its unique position for listeners and advertisers.
Health & Wellness: Fit and Trim and Energized for Growth
Once upon a time, there was “health,” well understood by most Americans. “Wellness,” however, was a somewhat vague term not fully understood and seemed to be limited to health spas and retreats and various New Age philosophies and questionable treatments. The pandemic has changed that relationship, elevating wellness on par with health and creating an equal partnership in the minds of millions more Americans and people across the globe. Make no mistake, health wellness is a global trend, almost a phenomenon.
Television’s Exciting Journey into the Future
Since its inception, television’s journey across the media landscape has been steady and relatively smooth. More recently, however, the media landscape has changed and television has had to adjust its course. That journey into the future will be an exciting ride because of the many new opportunities the changes in viewing habits, advertisers’ needs and technology will create for content creators and ad sales teams.
Convenience Stores 2022: A Smoother Road Ahead
Convenience stores did their best to remain convenient to customers during the pandemic; however, the abrupt change to many people’s work schedules and their reluctance to shop inside stores disrupted the entire convenience store model. With fewer people working and remaining at home, the demand for motor fuel declined significantly. Similar to many other local businesses, convenience stores have continued to face labor challenges and supply-chain issues.