Online Shopping Starts Setting Records
The amount of time people have spent online in the past few weeks has likely never been higher. It’s one of the natural reactions to the COVID-19 pandemic. People are working from home and doing their entire jobs online. Others are communicating with loved ones through video calls. Still others are buying almost everything they want and need on the internet to avoid going to stores or even going outside. As more and more states lock down and people stay home, internet use has exploded. This is perhaps the premier time for web traffic and online advertising, as the amount of potential buyers — and just the sheer amount of eyes on each search or each site — is unprecedented. It can also help those in need and make it possible for people to stay safe and healthy by remaining home.
For a direct example of the way things have changed, just look at Amazon’s stock values. It was already one of the most successful and valuable companies in the world before the pandemic. Now that people are shopping online more than ever before, the company has started hitting record highs. The value of a share recently hit $2,283.32, jumping up 5.3% ($114.45) to do it. That’s the current record, and it could only gain more ground in the weeks or months to come. For Amazon, this means that the company is now worth a mind-bending $1.137 trillion.
Amazon Is Not Alone
Amazon is the perfect example of the online surge, but it’s certainly not alone in its increasing value. Google’s parent company, Alphabet, increased by 4.5%. Apple went up by 5.1%. Microsoft kept perfect pace by gaining 5%. Entertainment services like Netflix jumped 4.2% and social media companies like Facebook increased by 1.9%.
Yes, all of these companies were very successful before, but that’s exactly what makes the shift in consumer mindset so apparent. These are not new options or new tools. They are just more valuable than ever right now, and the rising values reflect that. It’s a change in the way that people use the internet — and how much they use it — and that probably isn’t going to shift back any time soon. Even when the current crisis is thankfully over, people are still going to embrace technology in a new way.
Approaching the Future
What does this mean for your company? On one hand, it means that online advertising can potentially reach a lot more people right now. For instance, if social media mobile use is higher because people are stuck at home, unable to work or do their traditional hobbies, does that mean your social media ads can get more views than they would otherwise? It could be time to focus on certain areas over others, depending on where your customers are now.
This also changes communication. Even those who venture out to buy essential items will often put in online orders, call or contact the company on social media in advance. They can then pay over the phone and pick up their orders quickly, limiting exposure. Not only does offering this type of service help people in crucial ways right now, but it also means you have to focus on connecting with customers in these ways more than in person. They not only expect it, but need it.
At Content Customs, we know this is a challenging and unprecedented time. We know it’s having an impact on your business. Let us help you focus on the positive changes and the steps you need to take, whether that means online marketing, social media use, boosting your online presence or something else entirely. We have the experience and expertise to get the job done.