In the three months to the end of September, sales increased by almost 22% in Dublin compared to Q2 of this year to reach a new peak. The report points to the easing of COVID-19 restrictions which improved trading for bricks-and-mortar retailers. Comparing Q3 to the same period last year, sales increased by 6.8%.
Looking at sector categories, spending was varied. Household goods sales exceeded pre-pandemic levels and rose by 62.4% QoQ and 23.4% compared to Q3 2019.
Necessities spending decreased by 5.2% compared to a strong performance in Q2 yet recorded a 10.6% increase year on year. Entertainment expenditure witnessed the biggest reduction recording a 44.8% decline in spend when looking at figures from last year.
With physical retail outlets opened throughout the quarter and discretionary spend almost fully recovered, eCommerce declined by 1.2%. Nationally, similar trends were recorded with most brick-and-mortar spending increasing QoQ.
As the non-essential retail sector began to reopen throughout June after months of closure, consumers reverted to the physical retail experience with pent up consumer demand driving spend in Q3. The report points to this and indicates there is pent-up consumer demand waiting to be released into the economy once non-essential businesses reopen.
With a similar picture now being witnessed as part of Level 5, we can expect a busy month in retail spending in December as people begin to engage in the physical shopping experience once again in the lead up to Christmas.
In other retail news, taxback.com has released the results of a recent survey that shows a majority of consumers will strive to support Irish businesses and the domestic economy in the run up to Christmas.
Over two thirds (68%) of the respondents to the survey claimed they will or will try to buy Irish as a result of the pandemic. However, price sensitivity is an issue with one in five (20%) stating the price must be affordable for them to buy Irish.
With a huge drive to shop Irish this year, Irish brands and advertisers can leverage their Irish credentials and pricing within their marketing communications. Advertisers can build awareness of these more pronounced USPs with Irish consumers primed and focused to support Irish businesses this year. OOH can be a valuable mechanism in communicating these points with its ability to build awareness with relative ease and gives companies a local, regional or national platform to help increase consideration and drive sales.
The New Formula for Media Planning Post COVID
Researcher and author, Justin Gibbons recently published a new book, P²+C=5, that was launched and discussed at a recent webinar facilitated by JCDecaux UK. In this, he explores the formula marketers need in the search for effectiveness.
The book, P² + C = 5 The New Formula for Media Planning Post COVID, examines how marketers can harness both public and private screens to help brands build effective, more balanced communications.
Written during the worst of the COVID-19 pandemic in March, the evidence pointed to a new solution for a new point in time. The research is a new framing, away from brand and response, to something more tangible.
What does P²+C=5 mean?
Dissecting the new formula, the Ps stand for public and private media. Public media, for example OOH, is generally consumed in a public forum and conveys trust, familiarity and fame. The book outlines how public media acts as priming or signalling for private media, and can make media such as mobile, social and online work harder.
In essence, the public media amplifies the private media and intensifies the outcomes for brands, hence the term P².
Looking to the second part of the equation, the C is for creative. As broadcast channels such as OOH become increasingly digital, creative is easily portable and transferable across platforms. This makes the channels of public and private media easier to plan and by using the same distinct creative and context across platforms, it can prime audiences in their initial exposure in high attention channels. In research highlighted in the book, high-attention channels such as OOH were found to increase engagement with low attention channels. This priming effect led to a 52% increase in overall attention.
If P²+C are applied, there are then five enhanced outcomes; trust and brand familiarity, attention, awareness, consideration and activation.
Author Justin Gibbons, commenting on the book said: “This book is a call to arms. It is also a wake-up call about the gap between what media planners know to be best practice in creating sustainable brands, as referenced by leading marketing experts such as Binet and Field and Byron Sharp, and what actually happens in media departments solely focused on short-term return on investment. In our rapidly changing world, it analyses how brands can prosper and develop in a sustainable way. Now is the time to reassess and reinvent the way we do marketing”.
Read More Here
A picture paints a thousand words so there’s not much we can add to this other than to say how hugely impressed we were at this stunning new mural in Cork, by graffiti artist Aches. Superb.