- 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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