What you need to know
The digital tech industry is often talked about in terms of overall trends; what devices and services consumers want and why. But within the landscape of product and service trends exists a highly dynamic battle between brands. And some of those companies have gotten so large and diverse that the line between hardware and digital service brands has started to blur; brands like Apple, Google, Amazon and even Nintendo produce both hardware and software/digital services.
As the COVID-19 crisis makes the entire consumer market even more competitive – with economic challenges bringing additional scrutiny to every dollar spent – brands will have to be particularly nimble navigating this new world. As this Report will show, certain digital brands have already established product ecosystems that give them more stable long-term prospects than others – but at the same time, price could surpass brand as a factor for consumers as budgets tighten. As a result, the stakes of brand competition in this industry are higher than ever because they are battling for an increasingly scarce resource – disposable income – yet the sale of just one device could ultimately result in years of brand loyalty from a consumer across many different products.
Key issues covered in this Report
The impact of COVID-19 on consumer behaviour and digital trends and brands
How digital brands will fare post-COVID-19
Focus on the realities of the market aside from the pandemic to provide a clear understanding of the dynamics of today’s digital brands without the uncertainty brought on by such an unprecedented event
A more granular insight into the strategies used in the digital tech market, as well as highlighting valuable lessons that can be learned from some of the most successful brands in the world.
This Report was written on April 6, 2020 and updated on May 20, 2020 with the COVID-19 implications.
Definition
This Report covers digital tech brands and uses the following definitions of these terms:
Digital tech: a broad term used to refer to consumer electronics and digital services, including but not limited to hardware, software, digital streaming and ecommerce
Ecosystem: a set-up in which a consumer owns multiple products or services from the same brand or company – and those products and services work more efficiently and effectively with each other than they would with a similar product or service from another brand.
