The U.S. economy is expected to recover from Coronavirus-induced contraction in 2021, according to the Congressional Budget Office (CBO). The CBO is projecting an economic growth of 4.6% in 2021, compared to a 3.5% drop in 2020. The 2021 bounce back would return the economy to its pre-pandemic size; however, unemployment is projected to average 5.7% for 2021 and would not get to its pre-coronavirus level until 2024. (MarketWatch: 2/1/21).
According to Mastercard Spending Pulse, 2021 kicked off with retail gains across nearly all sectors and all 50 U.S. states, measuring in-store and online retail sales across all forms of payment. The momentum of the holiday season continued through to January where U.S. retail sales increased 9.2% year-over-year, with an online sales growth of 62.1% compared to 2020. Overall retail sales and sector sales for January include: Furniture & Furnishings (+16.6%), Specialty Apparel online sales (+52.5%), the Department Store Sector (+27.9%), while Gasoline sales continued to decline. (Yahoo!: 2/4/21)
TV NEWS VIEWERSHIP
The COVID-19 pandemic, the presidential election, and the protests all contributed to the increase in TV News in 2020. With these and other topics ongoing, it looks like TV news viewership has the potential to remain top of mind this year. Now that cold temperatures have set in and limited outdoor activities and dining, people are passing the time by watching content available on TV streaming services. “Despite the rise in streaming video consumption, the value of local TV can’t be overstated, especially when it comes to news programming,” says Nielsen. Streaming TV services cannot keep up with the demand of Americans wanting to know what is happening in their local communities and nationally as events continue to take place. According to Nielsen, US TV news viewership is at its highest in the late afternoon and evening, while people tune into cable TV news primarily between 3 p.m. and 10 p.m.. (SalesFuel)
TV NETWORK RATINGS
Four months into the 2020-2021 TV season, TV networks are dealing with a “worse-than-normal audience under-delivery” problem; partly due to fourth-quarter prime-time delays. As a result, these under-deliveries are making it harder to ensure makegoods. In the first few weeks of the new season the shortfalls (as much as 20%-30%) are being met with creative makegood packages including “digital video, marketing and social media”. However, the networks are challenged to meet some specific requests, as there isn’t enough ad inventory available on CTV platforms. (MediaPost: 2/5/21)
Tamron Hall recently used Instagram to announce that The Tamron Hall Show was nominated for an NAACP Image Award for Outstanding Talk Series for two years in a row. Her ratings are up 33% among women 25-54, and fans are glad to “see the fashionista back in the spotlight … serving look after look”. She recently shared her look in Haus of Swag’s ‘I Am One Dope Chick’ oversized long-sleeve jumpsuit, captioning the post: “Where there is one there must be more. Celebrating black designers/creatives like @hausofswag #blackhistorymonth My new favorite onesie/jumpsuit. Sneakers to heels and back.” Check out HELLO! (2/4/21) for more.