Ownership Experience Trends from Stay-at-Home in America

Information about Ownership Experience Trends from Stay-at-Home in America

Published on August 6, 2020

Author: Registria2017

Source: slideshare.net

Content

1. OWNERSHIP EXPERIENCE TRENDS FROM STAY-AT-HOME IN AMERICA

2. WHAT’S INSIDE In recent months, consumers and brands alike have had to adjust to unprecedented Stay- at-Home orders, resulting in significant shifts in consumer behavior and brand focus. We have compiled data from millions of consumers and hundreds of brands during March and April 2020 to shed light on consumer trends and preferences during these times. Our analysis validates the continued shift in digital-first consumer behavior, which accelerated as Americans sheltered in their residences. Further, the data shows that brands which offer rich, digital experiences and had developed direct-to-consumer (DTC) channels prior to this time were able to better engage their customers and drive new revenue—often offsetting reduced sales from retail distribution channels that were closed because of the pandemic. TABLEOF CONTENTS Consumer Behavior Accelerates Direct-to-Owner Engagement01 Fitness Moves Into the Home02 #Trending in the Home03 Increased Owner Engagement Fueled Growth of Direct-to-Owner Sales04 What’s Next for Brands and Product Owners?05

3. OWNERSHIP EXPERIENCE TRENDS FROM STAY-AT-HOME IN AMERICA 3 As consumers spent more time at home, they naturally purchased more products for the home. They also likely had more time on their hands. Brands that offered a strong call-to-action to connect over digital channels during the unboxing experience saw a significant lift in identifying new product owners— even more than the 2019 holiday season! Mobile-led identification methods saw the biggest increase in consumers’ preference to engage, followed by web. 35%INCREASE 28%INCREASE in product owners identified via Photoregister™ mobile owner onboarding in product owners identified via all digital onboarding channels CONSUMER BEHAVIOR ACCELERATES DIRECT-TO-OWNER ENGAGEMENT

4. 2 Exercise Bikes Ellipticals 31 Treadmills 4OWNERSHIP EXPERIENCE TRENDS FROM STAY-AT-HOME IN AMERICA Top 3 Product Categories: A big winner from Stay-at-Home was home fitness equipment brands. As consumers shifted their routines to trade their neighborhood gym for home alternatives, consumers purchased more fitness equipment. Brands capitalized by engaging those consumers, quickly, by offering digital onboarding methods to ensure a perfect first experience for their new customers. FITNESS MOVES INTO THE HOME 63%INCREASE in product owners identified via all digital onboarding channels (Fitness Equipment Category)

5. #TRENDING IN THE HOME As consumers spent more time at home, they naturally began making themselves comfortable. Activities such as baking, binging shows on the Smart TV, and stocking food for a long hibernation of sorts went viral in news cycles and on social media. Consumers began purchasing more small kitchen appliances, entertainment products and food storage appliances to fuel their new at-home hobbies. Product owners from these categories engaged digitally with the brands they purchased at higher rates than before Stay-at-Home, starting with the onboarding experience. In fact, more owners engaged with the brands they purchased in these categories during Stay-at-Home than during the 2019 holiday season! It is clear that brands putting an emphasis on providing a seamless digital onboarding experience connected with more of their product owners as enthusiasm for their products rose during the Stay-at-Home period. OWNERSHIP EXPERIENCE TRENDS FROM STAY-AT-HOME IN AMERICA 5 25% 32% 98%INCREASE INCREASE INCREASE in freezer & refrigerator digital onboarding experiences in TV digital onboarding experiences in stand mixer digital onboarding experiences

6. OWNERSHIP EXPERIENCE TRENDS FROM STAY-AT-HOME IN AMERICA 63% YOY GROWTH in direct to owner sales 10% INCREASE in attach rate of direct to owner offers 7% INCREASE in average sale price of direct to owner offers 6 Brands that presented relevant offers to their new product owners during the onboarding experience and subsequent ownership experience saw a big lift in Direct-to-Owner sales during the Stay-at-Home period. The emphasis on selling additional products and services directly to existing product owners proved to be a great direct-to-consumer revenue channel for brands looking to offset losses from traditional retail revenue streams. The growth in revenue was seen across the board with total revenue, attachment rates, and average sale prices growing across product categories. Brands captured revenue from a range of products and services including Care plan sales, accessories and consumables, content subscriptions, proactive repair and replacement services. INCREASED OWNER ENGAGEMENT FUELED GROWTH OF DIRECT-TO-OWNER SALES

7. RESERVE YOUR COPY OF OUR 2020 TREND REPORT CONNECT WITH OUR TEAM TODAY 7OWNERSHIP EXPERIENCE TRENDS FROM STAY-AT-HOME IN AMERICA Now, more than ever, consumers expect personalized digital experiences directly from the brands—not just the retailer or place of purchase. For brands, now is the time to provide easy and engaging ways for their product owners to connect directly and for brands to own the experience. Brands that invest in or expand their focus on the ownership experience, from onboarding to servicing and care of owners, are driving increased engagement, opening sales channels, and are supplementing traditional retail sales with new, direct models. They’re also growing a much more satisfied customer base. To learn more about how Registria is helping brands connect with more product owners and driving more value throughout the ownership experience, get in touch with us below and reserve your copy of the 2020 Trend Report, coming soon. WHAT’S NEXT FOR BRANDS AND PRODUCT OWNERS?

8. ABOUT THE REPORT Registria’s Owner Insights Team analyzed product registration and owner engagement data from 100+ global brands from March 1, 2020–April 30, 2020, as compared to the same period in the previous calendar year, to identify trends in owner identification during the early Stay-at-Home period of the Covid-19 pandemic of 2020. ABOUT REGISTRIA Registria is a leader in developing post-purchase ownership experiences for durable consumer brands. Hundreds of the most recognized brands in the world use Registria’s award-winning technology to onboard their customers. Registria’s owner and engagement services bring greater clarity and understanding of how companies can build profitable product owner relationships, and provide direction on how to engage with and provide valuable, meaningful moments to them. Turn a moment into a lifetime.

9. Turn a moment into a lifetime.

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