The Shoppe - Coca-Cola Cuts, Amazon Prime Day & More
Welcome back to The Shoppe! This week we’re covering Coca-Cola cost cuts, Amazon Prime Day and the inclusion of YouTube TV views in local ratings. Be sure to tune in every week for the latest news!
After more than 50 years, Coca-Cola has decided to retire its first ever diet soda, Tab. The drink will be phased out by the end of the year, in an effort to eliminate underperforming products least deserving of the company’s resources amid the pandemic. In their second quarter this year, Coke saw a 28% drop in sales. CEO James Quincey said over half of their 400 brands account for only 2% of the company’s total revenue, Tab making up just .01% of global diet soda sales in 2019.
The company, like many other food and beverage brands facing significant disruptions due to changes in consumer behavior, has been working to streamline their product offerings to cut costs and follow the lead of the new consumer. We can expect to see continued prioritization of Coke’s bigger brands in the coming months.
Amazon Prime Day Spending Up 36% in 2020
Amazon has issued a press release revealing their 2020 Prime Day success. The yearly Prime member savings event, offering discounts on various products ranging from electronics to children’s toys, marked the two biggest days ever for third-party sellers. Small and medium sized businesses saw over $3.5 billion in sales, almost a 60% year-over-year increase from Prime Day 2019. Members were estimated to save over $1.4 billion during the event, the top selling products including bedding, wireless accessories, arts, crafts and sewing, and health care. The company states it is on track to invest $18 billion into the success of its third-party sellers.
In an effort to give advertisers a full account of their viewing activity, incorporating non traditional viewing methods, Nielsen has announced that YouTube TV viewership at designated marketing levels (DMAs) will be included in their local TV audience measurement. Whether a program is viewed on a smartphone, a tablet or a computer, it will be counted in the program’s standard TV ratings. With the increase of streaming on mobile devices and the rapid growth of streaming services across the United States, local media buyers will be able to get a more accurate and inclusive picture of their audience before the start of the 2021-2022 TV ad selling season.
The latest version of Google Analytics is now available. Offering AI-powered predictive insights, the measuring and tracking of users across devices, and codeless event tracking, the updated Analytics platform now provides advertisers an accurate, cross-channel view of customer behaviors, with detailed insights and recommendations. To help marketers be proactive, AI-powered predictions can estimate potential revenues and churn rates, as well as alert advertisers to market trends. Marketers can also now view reports by periods of the customer lifecycle, allowing them to see how customers engage with their business and the differences in the actions of customers in varying stages. For example, if a customer found their business via a web advertisement and later made a purchase in their app. Tracking and measuring customer actions will also be quicker and easier through codeless event tracking. Marketers no longer have to code or set up event tracking in Google Tag Manager.
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