January 25, 2021
Just as many individuals look to build a better version of themselves in the new year, so are leading brands as they roll out new products, technologies, and marketing strategies to interest consumers. And with many consumers watching their dollars, capturing market share is more important than ever.
According to the National Retail Association, most Americans placed their money into savings or paid down debts in 2020 with their tax refunds. With only 9% making splurge purchases and 10% buying big-ticket items last year, companies are working hard to bring consumers back to the stores – virtually or otherwise – to get a piece of their 2021 spend. Here are a few brands to keep an eye on this year that offer new or enhanced products and services.
PayPal Holdings, Inc. (Tii:PYPL)
PayPal has been helping customers and merchants with their online financial needs by providing digital payment services. Understanding how the pandemic has stretched finances and that people are trying to make ends meet, PayPal has made it a little easier to stretch out payments. The company recently introduced its Pay-in-4 plan that allows certain users to make four payment installments spaced out every two weeks. With its stock price up more than 110% for the past 12 months, this company expects to see a good year by making online purchases easier for customers.
Pinterest, Inc. (Tii:PINS)
This image-sharing social media site is well-known for its users’ posting cake failures and DIY gardening projects. The company had 443 million users worldwide in 2020 and continues to seek new ways to connect marketers to such a large buying segment. While the company is still operating in the red, analysts expect it to turn profitable in 2021. This is partially due to the social media platform’s new automatic advertising bidding tools and a greater focus on media-rich content. With these new tools available to users, the company’s advertising strategies may pay off big in 2021.
Twilio Inc. (Tii:TWLO)
One of the major upheavals caused by the pandemic was the closing of company offices as employees turned to gig and remote work. When the pandemic ends, many of these companies may continue with a remote working model after realizing that employees remain productive while operating out of their homes. As a cloud communications platform, Twilio plans to take advantage of that during 2021 with its integrated web communication services. The company expects to meet its sales growth targets of more than 30% in 2021 by helping businesses and customers communicate better over the Internet.
Tennant Company (Tii:TNC)
Having clean and sanitized workplaces has become paramount during the pandemic. Companies are investing in a wide range of cleaning products and services to cut down on the virus’s spread. A provider of cleaning products and solutions, Tennant offers autonomous scrubbers that do not require a person to operate manually. Like a Roomba on steroids, these scrubbers can clean and sanitize retail stores and offices to stop the spread of germs. With such large companies as Walmart Inc. (Tii:WMT) purchasing 1,400 of these machines last year and its subsidiary Sam’s Club obtaining the scrubber for each of its 599 stores, Tennant has positioned itself as a sought-after brand in 2021.
NVIDIA Corporation (Tii:NVDA)
Consumers continue to seek out home entertainment options as they social distance. One area that has significantly benefited from this trend is the gaming industry. The global gaming market is expected to hit a $256.97 billion valuation in 2025 and have a combined annual growth rate of 12.9% through 2027. This growth has led to microprocessor manufacturers such as NVIDIA rolling out new cutting-edge graphics processing units for gaming laptops. The company is expected to have a 20% earnings growth rate this year as the popularity of gaming laptops increases.
With the prevalent trends of 2020 expected to continue into 2021, these are just a few brands looking to benefit from customer behavior by rolling out new products, services and of course, marketing campaigns to vie for consumer dollars.