- SRAX conducted two surveys using consumer-driven BIGtoken platform
- Mother’s Day study showed 68% of users purchased gifts, 49% bought online
- COVID-related survey reveals 67% of users afraid of early reopening, 32% intend to immediately purchase non-essential services
- BIGtoken platform encompasses 16 million users across more than 30 countries with $400 million potential projected revenue by January 2022
As a global society adapts to COVID-19 restrictions, consumer patterns and preferences continue to shift – and insights into these changes are more sought-after than ever before. Brands across all industries seek to leverage valuable consumer data to increase sales, and companies like SRAX Inc. (NASDAQ: SRAX), a technology company focused on digital marketing and consumer data management, have valuable resources to meet this need. SRAX recently released two studies showing key insights about changing consumer patterns in connection with the COVID-19 panic. Through the use of its BIGtoken platform, SRAX leverages the consumer data of its 16 million users to create valuable data sets that are accessible by marketers for a fee. The company also compensates its users with cash or gift cards when they opt in and give access to their data.
The first BIGtoken study was conducted with Publicis Groupe, one of the largest marketing and communications companies in the world (http://ibn.fm/dd3jV). Using BIGtoken’s Lightning Insights, millions of consumers were surveyed to analyze their buying activities surrounding Mother’s Day, giving insight into how the current economic conditions are affecting consumption patterns. While the results showed that 70% of the study participants felt Mother’s Day was either ‘neutral’ or ‘not important’, 84% still celebrated the day, 68% bought a gift, and 49% made that purchase online.
In addition to the Mother’s Day survey, the BIGtoken platform was also leveraged to research the sentiments of users regarding the reopening of the United States (http://ibn.fm/I8Nq6), revealing that 67% feared it will lead to an increased spread of the coronavirus while 32% intend to immediately purchase non-essential goods and services once the country reopens. According to the survey, the types of businesses that users intend to visit include state parks and beaches (39.7%), supermarkets and banks (37.2%), barber shops and nail salons (33.3%), restaurants (29.5%), and non-essential retail stores (25.6%).
The unprecedented economic landscape created by COVID-19 and the resulting lockdown has prompted many companies to seek unique insights into consumer behavior so they can adapt to the increasingly challenging business environment. Data gleaned from SRAX’s BIGtoken platform provides valuable consumer insights, allowing brands to draw inferences to inform their marketing strategy.
“BIGtoken is happy to play a role in helping brands understand rapidly changing consumer behaviors during this time,” BIGtoken Executive Vice President George Stella stated in a recent news release. “Because our users are compensated as they share their data, we’re proud to put a little money back in their pockets. We look forward to continuing to use our platform to help in this crisis by connecting brands directly with their customers and providing quick, relevant insights and audiences they can activate.”
With over 16 million users across more than 30 countries, SRAX’s BIGtoken platform compensates users in addition to providing brands the ability to target and access specific niche groups across 25,000 unique market segments with the power to submit specialized queries that include location and purchase history. Potential revenue for BIGtoken is projected at $400 million by January 2022, with plans to formally launch into several international markets that include Europe, India and Mexico.
Along with BIGtoken, SRAX also unlocks data for the finance space through Sequire – its premier platform for investor intelligence and communication that allows public companies to track investor behaviors and trends for use in engaging current and potential investors.
With an aim to deliver the tools to unlock the value of data, SRAX’s technology helps brands gain insights across marketing channels in the consumer goods, investor relations, luxury, and lifestyle verticals.
For more information, visit the company’s website at www.SRAX.com
NOTE TO INVESTORS: The latest news and updates relating to SRAX are available in the company’s newsroom at http://ibn.fm/SRAX
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