TopLine Business Acumen Series Digest: September 14th, 2020 edition
This week’s most engaging stories
TopLine’s Business Acumen Series features business trends and opportunities to help sales professionals prospect and engage clients. It’s updated several times daily within the TopLine sales intelligence system. This digest features some of the week’s top stories.
This digest includes TopLine-exclusive components, like Instant Positioning pieces. These infographics on category trends and market conditions, available 24/7 in the TopLine app, help with prospecting and positioning you as a thought leader to clients. If you’d like to learn more about how TopLine can advance every stage of your sales process, click here to learn more now.
Auto Trends for the Future
Automakers who can stay on top of new emerging technologies will have the most long term success. According to a survey quoted on StartUsInsights.com, ten trends will likely shape the automotive industry for years to come. The first five trends from this article are:
- Autonomous vehicles.
- Shared mobility.
- Artificial Intelligence.
The article goes on to quote 5 more trends and states that companies that can stay ahead of the technology curve will have the edge when it comes to delivering what consumers want.
Do you have any current auto clients who may benefit from reading this article?
Latest Resources from TopLine
TopLine is constantly updated with assets on emerging trends and opportunities. At any time, you can submit a request for new custom research, or download Instant Positioning pieces on current topics for use in direct outreach and on your socials. Some recent pieces follow; TopLine users can access them at any time. Not a TopLine user? Click here to learn how TopLine can help you close more sales.
Consumers are Ditching Jeans
According to washingtonpost.com, jeans sales were already down 5% last year at $17B in sales from 2014’s $18B. Consumers are working at home and staying home more often, so they are more concerned with comfort than style. NPD Group also reported that luxury jeans sales are down 40%, and several of those luxury brands have declared bankruptcy this year. Consumers are turning to “athleisure” apparel like sweatpants and leggings, and sales of those items are rising.
How can retailers increase sales of more comfortable options? Can you help spread the word about local retailers selling athleisure-wear?
Consumers Forming New Brand Loyalties During Pandemic
A Bazaarvoice survey has found some surprising consumer insight. During quarantine, many shoppers were more inclined to try new brands amidst product shortages. 51% of U.S. consumers purchased a brand different from the ones they usually buy from or purchased a brand they never heard of. 7 out of 10 consumers aged 35-44 were also more willing to try new products. Most importantly, according to Marketing Dive, “Eighty-three percent of consumers who bought a new brand said they would keep buying those products, an early indication that they had formed longer-lasting loyalties.” In addition to new brands, more also signed up for subscription services, and 85% stated they would maintain the service after lockdowns end.
Are your local brands forming these vital loyalties with new customers?
Vacation Rentals are Recovering Faster than Hotels
According to travelweekly.com COVID-19 devastated the hospitality industry. but it’s beginning a slow recovery. Hotels in surveyed markets had an occupancy rate that was 77% lower than the previous year, but they jumped up to 40% of normal at the end of June. In contrast, vacation rentals were at 58%-61% of normal that same week.
How can you help local hotels increase occupancy? Can you partner with local vacation rental companies to increase their bookings? Can you create a promotion with local vacation rental companies or hotels and nearby attractions to offer special vacation packages for your listeners?