Retail brands must go further to impress on social media as likes and followers will become more valuable post Covid-19, GlobalData says

Rawpixel.com/shutterstock

• As consumers spend greater time on social media during the pandemic, likes and followers will become more valuable to retailers, GlobalData finds. 
• Brands will have to enhance their online identity and impress new customers in order to outperform in an environment of strong competitors.
• Compared to traditional forms of TV ads and billboards, "social media is a far cheaper method, especially if brands can leverage user-generated content and rely less on sponsored posts and collaborations," a retail analyst at GlobalData said.
• Visit Business Insider's homepage for more stories.

As many people across the world have stayed home during the COVID-19 pandemic, their time spent on-screen and engaging with social media has gone up, creating an opportunity for enterprising online retailers.

According to a recent study by analytics firm GlobalData, 49.3% of consumers surveyed in the retail space said they are investing more time on social media.

See the rest of the story at Business Insider

NOW WATCH: Why thoroughbred horse semen is the world's most expensive liquid

See Also:

• Health and wellness will be a top priority for consumers in a post-COVID world, and analysts say Lululemon is primed to capitalize on this
• Under Armour's Sportsmask sold out in less than an hour, as people scramble to find masks they can tolerate while working out
• 14 photos from the reopening of the largest mall in the US, The Mall of America

SEE ALSO: 85% of independent restaurants may go out of business by the end of 2020, according to the Independent Restaurant Coalition

from Business Insider https://ift.tt/2Y1uxTa