Use buying trends to market products
You are not alone if you are confused about the products that people are likely to buy today. Even consumers are not always sure. Most consumers have chosen to stay closer to home at a time when family vacations and festivals would have been the norm.
The way we present information on the home page, landing pages and on social media has an impact on sales. If you’re struggling to find what works for your target audience, consider using general buying trends as a guide.
Covid-19 Trade Snapshot (“CCInsights”) is a collaboration between Emarsys, the omnichannel engagement platform, and GoodData, a business intelligence company. Its goal is to provide trends and analysis, based on 1 billion consumers and 2,500 brands, of the economic impact of Covid-19. According to CCInsights, US consumers in mid-2020 are focusing on products that fall into four main categories:
- Improvement of physical self. Personal exercise equipment and nutrition.
- Simplified household management. Home appliances, gadgets and tools that make the house easier to manage.
- Comfortable life. Interior decoration and related products that make the home feel more of an oasis.
- Outdoor fun. Items for the yard and local outings.
Even when they don’t apply directly to your business model, understanding trends helps identify ways to present products online.
CCInsights reports that simple skipping rope gained momentum in mid-March and has maintained its popularity ever since. It has been ranked in the top 10 for trending several times, peaking at a year-over-year increase of over 62,000 percent in May and 2,841 percent for the year ended July 30.
Product trends tell us what consumers are most likely to buy.
Consider, for example, personal fitness items. The hottest items (beyond skipping ropes) include portable weights, boxing gloves, and basketball hoops. Treadmills and ellipticals are ranked lower. This tells us that consumers don’t have the room or the budget for large equipment. Perhaps many are waiting for the reopening of gyms in their area.
Motorcycle helmets and golf clubs are on the rise. Here we can infer that a lot of people want to go outside, but they are more interested in doing it alone or in small groups.
The acceleration of residential power tools is telling us that people are tackling DIY home projects. This means that they are more focused on a comfortable life.
The trend for programmable washing machines and dishwashers is behind a desire to work smarter, not harder.
From all of this, we can decipher that most consumers want to find ways to enjoy life at home by making things as functional, comfortable and attractive as possible. Merchants can use this information to select the best products to showcase in their online store and third-party channels.
By understanding the trends of your target audience, you can focus on what’s likely to appeal.
For example, Dick’s Sporting Goods combines trending activities with context-use images to promote bikes, golf equipment, backyard games, and wearable fitness products.
The BSN Sports homepage pays special attention to home training, with a direct link to relatively small and affordable products.
Lowe’s is shifting its long-term focus from home improvement, tools and appliances to converting small spaces into workplaces. The home page contains links to do-it-yourself worksheets and unique products, such as headphones, office chairs, and Wi-Fi range extenders.
The container store groups the items into several categories to create a robust section called “Home Learning Solutions”.
Not all brands can take advantage of trends. Yet even traders who sell luxury or high-priced merchandise have options.
Take Cub Cadet, for example. It manufactures residential and commercial garden equipment. Before displaying a single product, its home page promotes free shipping or local pickup as well as financing options, capitalizing on trends in comfortable and affordable home maintenance.
If you’re selling more expensive items – essential or not – finance options, free shipping, and extended warranties are a great way to convey value.
Growth of e-commerce
Consumer response to the pandemic is not going to change anytime soon. With the end of summer approaching and the restrictions lingering, most people plan to stay close to home for at least the rest of the year. This translates into continued growth of e-commerce in most industries.
However, with growth comes competition. To retain and attract customers, consider using national trends as part of your product highlighting strategy.