As the novel coronavirus (COVID-19) continues to disrupt industries and businesses around the world, the consumer packaged goods (CPG) industry is operating in uncharted territory. Amid widespread health concerns, federal travel restrictions and local movement limitations, the industry is facing the greatest, and fastest change in shopping behavior ever.
“For some organizations, near-term survival is the only agenda item. Others are peering through the fog of uncertainty, thinking about how to position themselves once the crisis has passed and things return to normal. The question is, ‘What will normal look like?’ While no one can say how long the crisis will last, what we find on the other side will not look like the normal of recent years.”
“Where were you when Selena died?” By Court Stroud
Hispanics are more concerned than Americans overall about the threat the COVID-19 outbreak poses to the health of the U.S. population, their own financial situation and the day-to-day life of their local community, according to a new survey fielded as part of Pew Research Center’s Election News Pathways project.
In the earliest days of HIV/AIDS, before the public was responding to the growing plague, two of my closest business colleagues died. One was an incredibly talented chief creative officer of a major fashion chain and the other a network TV buyer at a large agency. It wasn’t until friends began getting visibly sick and dying that the immensity of the human tragedy resonated for many. For those in the gay community, AIDS was a pandemic. For me, like too many others, reality dawned slowly. By Jack Myers – Media Ecologist, Founder: MediaVillage and Advancing Diversity Hall of Honors
Many industry sectors may decrease marketing and advertising spending this year as a result of slower sales and profits. MAGNA expects the impact on revenues to be severe for the Travel and Restaurant industries, moderate for Retail and Automotive, mild for Consumer PackagedGoods (CPG/FMCG) and potentially positive for Ecommerce and Home Entertainment (SVOD).
New CMO Council Research Finds Marketers Lacking On-demand Data Insights to Adapt, Adjust and Make Tactical and Strategic Marketing Recovery Moves
The decades long tracker we’ve been running? Weakened. Longitudinal data relies on consistency, the assumption that external factors change only slight over time. COVID-19 has proven to be a global catastrophe, changing our daily lives in ways we could have never anticipated from the decimation of global supply chains to the way we interact with each other on a daily basis. Trackers prior to the COVID-19 outbreak will serve as reminders of how life was prior, but new data will be needed to anticipate how consumer purchase behaviors have changed in light of the pandemic. By Mario Xavier Carrasco – Co-Founder & Principal at ThinkNow
While solutions exist, myriad problems continue to erode the trust between clients and their agencies
IThe current crisis is a far cry from the Great Recession but there are things we have learned that are applicable when trying to figure out how to protect brands, businesses and livelihoods. In this post I have listed a few things that brands should do during the crisis and which will help preserve the brand’s standing for the longer-term.. by Nigel Hollis
Due to health concerns, Telemundo’s Upfront event in New York City slated for the evening of Monday, May 11 has been postponed. NBCUniversal announced it will instead televise and stream the Upfront Presentation for the 2020-21 season to ensure the safety of all participants while also reflecting the increasingly direct relationship between NBCUniversal, its fans and its partners.
To help prevent the spread of COVID-19, the Culture Marketing Council has rescheduled the CMC Annual Summit from April 27-29, 2020 to new dates. The CMC will announce the new dates in the coming weeks.
In recent weeks, there has been some talk about an economic recession. When it comes is still anybody’s guess, but another business slowdown is inevitable. It would be the first since the “great recession” ended more than ten years ago. Often times when a recession happens, businesses, fearful of declining revenue, begin to cut back in various areas, including their ad spending. By Brad Adgate
The coronavirus is top of mind for all right now, and understandably so. There remain a lot of unanswered questions about how bad things may get and how long it will take for them to resolve.
The U.S. Hispanic community faces enormous health disparities, from a lack of health insurance to a lack of trust in the healthcare system and much more. Today, given the unforeseen and unprecedented impact of the COVID-19 pandemic, the Hispanic community more than ever needs the support of organizations and brands, big and small, as we all continue to navigate the burgeoning COVID-19 crisis.
On March 9, The Myers Report predicted a potential $1 billion to $3 billion loss in advertising spending in 2020 and an additional $1 billion to $3 billion in 2021 due to coronavirus (COVID-19) realities. We projected total marketing communications budgets could decline by $3 billion to $11 billion in each year. Based on the actions of the past week, we now believe the most likely budget reductions will be closer to last week’s worse-case scenario.
As the streaming wars intensify, can consumers expect to see more diverse on-demand options in the year ahead? Kevin Westcott, Deloitte’s US leader of telecommunications, media, and entertainment, explores the biggest media trends for 2020—from content re-aggregation and ad-supported video to esports and 5G.
In a dynamic environment, every organization must realign its operating model. Consumer-packaged-goods players are no exception. But what’s the secret to a successful transformation? Here are six ideas.
Given member interest resulting from coverage in the advertising/marketing trade press regarding changes in payment terms being implemented by a handful of companies to some suppliers, ANA initiated research to determine if such changes were isolated examples or reflective of a broader trend. The answer is clear: payment term changes, notably extended terms, are reflective of a broader trend. The services noted most for extended payment terms are agency fees, research, and production. The majority of respondents who have extended their payment terms have done so to derive better cash flow.
Advertising has never been a particularly admired profession. Indeed, some would say it isn’t a profession at all. We’re not doctors or teachers; we’re not even lawyers or accountants. We don’t make or do anything of any great practical use to humanity. We help people sell stuff.
