Orlando, Florida, April 22, 2020 (GLOBE NEWSWIRE) -- IZEA Worldwide, Inc. (NASDAQ: IZEA), operator of IZEAx®, the premier online marketplace connecting brands and publishers with influential content creators, released its latest research initiative, “COVID-19 Stay-at-Home Impacts on Consumption Trends” today. The U.S. consumer study examines the impacts of COVID-19 “Stay-at-Home” orders among those currently confined to their homes. It focuses on the purchasing behaviors of consumers, specifically as they relate to clothing, groceries, appliances, and electronics.
The new report is available to download for free, here: izea.com/covid19/consumption
IZEA fielded the study on April 9, 2020, as many U.S. consumers were entering their 2nd or 3rd week of home confinement. All of those who participated in the study indicated that they were “confined to their home,” however only 21.3% said that they had not left their homes at all. The majority of those who participated in the study (76%) said they left their house for those items that they deemed ‘essential.’ Results are based on the responses from 1,061 U.S. Internet users ages 16-99 who self-identify as confined to their home.
Key Statistics for Coronavirus Impacts on Consumption Trends Include:
- 1 in 4 consumers indicate that a 50% discount would be required in order for them to purchase an item they “really want,” but consider non-essential right now.
- 26% of all respondents say that they are researching new products online more than they did before Coronavirus.
- 27% of those ages 18-29 say they have purchased or might purchase an air fryer.
- 34% say they may buy a T-shirt, and 27% may buy athletic wear.
Key Statistics for Coronavirus Impacts on Delivery Services Include:
- 36% of all respondents indicate they plan to use grocery delivery or curbside pickup services while confined to their home.
- Those ages 30-44 are 4x more likely to use coffee delivery or curbside pickup.
- 34% say they are likely to use restaurant delivery or curbside pickup.
- 23% say that they have subscribed to, or plan to subscribe to, a meal kit delivery service such as Blue Apron or Hello Fresh.
Key Statistics for Coronavirus Impacts on Home Improvement Industry Include:
- 33% of male respondents say that they have traveled to a home improvement store since being impacted by Coronavirus.
- 11% of those between the ages of 30-44 expect to use Home Improvement delivery services or curbside pickup.
- 28% of males that own their own home say that they are considering installing new flooring while impacted by Coronavirus.
“Social media users stuck at home represent the ideal customer for many retailers, manufacturers, and service providers,” said Ted Murphy, Founder and CEO of IZEA. “They are more likely to be researching new products, more likely to use curbside pickup of all kinds, and more receptive to new types of delivery services, such as direct-to-garage delivery. When it comes to consumption during Coronavirus, Social Media Influencers are in a class of their own. They are 2.6x more likely to have purchased non-essential items since being impacted by Coronavirus as compared to those who don’t use social media at all. Not only are they buying more, they are sharing those purchase online and influencing others to buy.”
“Coronavirus has also created an opportunity for challenger brands to establish new relationship with consumers,” continued Murphy. “Over 46% of consumers indicated that they have already tried at least one new brand or product since being on Coronavirus lockdown, and 82% have tried or are willing to try a new brand. Consumers have lost their ability to explore physical locations and experiences outside their home, giving these alternative brands and niche products an opportunity to fill a void for those looking to try something new. In a time of dramatically increased social media activity, we believe that influencer marketing is the ideal strategy for these brands to create awareness and drive consideration.”
“The shuttering of restaurants and entertainment venues is forcing an entire country back to the kitchen,” said Murphy. “Young adults in particular are spending more time than ever at home and are making their first purchases of new appliances or upgrading older appliances to meet their new domestic reality. Twenty-two percent of those surveyed between ages 18-29 say they have already purchased or may purchase a new refrigerator due to Coronavirus, compared to just 8% of those ages 60 and older.”
To view all of IZEA’s COVID-19 consumer research in full visit izea.com/covid19.
About IZEA Worldwide, Inc.
IZEA Worldwide, Inc. (“IZEA”) operates IZEAx, the premier online marketplace that connects marketers with content creators. IZEAx automates influencer marketing and custom content development, allowing brands and agencies to scale their marketing programs. IZEA creators include celebrities and accredited journalists. Creators are compensated for producing unique content such as long and short form text, videos, photos, status updates, and illustrations for marketers or distributing such content on behalf of marketers through their personal websites, blogs, and social media channels. Marketers receive influential content and engaging, shareable stories that drive awareness. For more information about IZEA, visit https://izea.com/.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “will,” “would,” “likely” or other comparable terms. Examples of forward-looking statements include, among others, statements we make regarding expectations of sales activity, revenue and margins based on bookings, plans to increase the size of our sales team, the financial impact of investments in our software business, and continuation of new IZEAx customers and their effect on future sales.
Forward-looking statements involve inherent risks and uncertainties, which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors, including, among others, the following: competitive conditions in the content and social sponsorship segment in which IZEA operates; failure to popularize one or more of the marketplace platforms of IZEA; uncertainty relating to the effects of COVID-19, changing economic conditions that are less favorable than expected; and other risks and uncertainties described in IZEA’s periodic reports filed with the Securities and Exchange Commission. IZEA assumes no obligation to update any such forward-looking statements to reflect actual results or changes in expectations, except as otherwise required by law.
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