{"href":"https://api.simplecast.com/oembed?url=https%3A%2F%2Fbanknotes-audio.simplecast.com%2Fepisodes%2Fepisode-8-banknotes-news-september-16-2022-cIesCO0O","width":444,"version":"1.0","type":"rich","title":"Episode 8: BANKNOTES News (September 16, 2022)","thumbnail_width":300,"thumbnail_url":"https://image.simplecastcdn.com/images/2bc5b6d4-9b9b-42bf-b75f-2963b4be78b7/3432cad3-0232-4b95-bde9-03f605db4435/screen-shot-2022-09-09-at-8-20-18-am.jpg","thumbnail_height":300,"provider_url":"https://simplecast.com","provider_name":"Simplecast","html":"","height":200,"description":"Furniture retailers see decline in sales, layoffs since height of COVID boom\n\nWhat do you do when you’re forced to stay home for days, weeks, months at a time?\n\nYou make improvements to your home, of course.\n\nWith that, in the early days of COVID, furniture sales saw tremendous growth. \n\nIn February of 2020, Americans spent $11.3 billion on furniture and home furnishings, and monthly sales grew by 181% over an 11-month period from April 2019 to March 2020, according to Commerce Department data.\n\nHowever, a cushy new sofa or mattress isn’t always enough to pad the discomfort of inflation and a down economy, and furniture sales are now slowing. \n\nLayoffs have come from the likes of Wayfair, Article and more.\n\n\n\nShould brands hire creators over agencies to produce high-fidelity content?\n\nStats show brands that understand the power of creator influence are winning. \n\nInfluencer marketing is booming, driving stellar results, and has an average ROI of $5.78 for every dollar spent. This is one reason why only 39% of marketers planned to grow influencer marketing efforts in 2018, but a whopping 72.5% are increasing their budgets today.\n\nThis begs the following questions. If creator content is so effective across social media, should brands be turning to creators for all kinds of high-fidelity content as well? And, is there a benefit to hiring creators directly instead of going the traditional route and hiring an agency? \n\nWell the answer is yes and no. It depends on what you’re looking for. The pros dive into the topic over at banknotes.co\n\n\nWhat’s your sign? How brands are using astrology to start a conversation\n\nIf you feel like you’re seeing a lot of marketing campaigns focussed on astrology and the zodiak lately, you’re not alone. \n\nThis resurgence in focus on astrology has a lot to do with the movement toward wellness and self-care, and the declining interest in organized religion. As more turn away from traditional religion and delve deeper into spirituality (while still wanting to find a sense of guidance or understanding), the alternative for many is to dive into the varying layers of astrology.\n\nAs more become interested in star signs and birth charts, brands are catching on and looking for ways to market products based on zodiac signs.\n\nThere’s another motive for brands to do this, too. \n\nConsumers love it when brands ‘get’ them on a personal level. And what’s more personal than offering products or recommendations based on zodiac signs? \n\nLearn more over at banknotes.co\n\n\n\nMarket research still matters in the world of COVID and eCommerce\n\nIn a lot of ways market research is a legacy tactic, but that doesn’t mean it should be ignored by brands big and small. \n\nIn fact, market research as come a long way from the focus groups of the past.\n\n\nWhile formal studies and surveys are still on the table, the host of potential market research channels now open to marketers has grown exponentially.\n\nThose conversations can be happening on traditional social media channels like Facebook and Instagram, or occurring on a Discord channel or on Twitch. Then there are of course sales and customer service calls that can be audited for research, along with one-on-one Zoom sessions.\n\nHead over to banknotes.link/marketresearch to learn more about how market research is evolving.\n"}