A new study of hundreds of manufacturers, commissioned by the modern digital agency for manufacturers, Shift7 and conducted by Zogby Analytics, reveals that while four in ten manufacturers say they’ve furloughed and laid off employees this year, 56% have not taken any form of government financial aid, including the Small Business Administration’s Paycheck Protection Program (PPP). At the same time, the survey shows these manufacturers are shifting focus to optimize their digital presence during this time.
“Every manufacturer can benefit from a more robust digital footprint right now, and the pandemic has given many the push into the space they needed to make it happen,” said Andrew Walker, CEO of Shift7 Digital. “This shift is paramount as brands need a stronger direct relationship with consumers, retailers and resellers alike. Manufacturers that are addressing this revolution are the ones that will survive and thrive in this environment and beyond.”
Likewise, the Shift7 study finds that more than two-thirds of manufacturers have moved marketing dollars from traditional to digital channels this year. This trend correlates directly with where manufacturers are seeing sales—52% say the majority of their sales have come from online channels in 2020.
