Manage episode 275457668 series 1101956
Are marketers and marketing media ignoring the economic realities of the pandemic? At the time of this recording, the United States unemployment rate is 7.9% with 10.7 million jobs lost since the start of the lockdowns.
According to a McKinsey Study, Consumers are cutting back to the essentials, they are leaving brand loyalty behind. Both Consumers and businesses are re-evaluating their spending and focusing on value. Nearly 75% of consumers have changed brands or store preferences during the pandemic.
On the one side, The concept of empathy has made numerous headlines, but simple observation shows that empathy is being used as a marketing tactic, rather than presenting true empathy. True empathy would realize that there is no simple road map to navigate these circumstances, people are deeply impacted, and they react in many different ways.