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Let’s start with a bright spot: The pandemic-induced lockdown has been very good for Shopify, the e-commerce platform that simplifies the process of setting up an online shop. Bloomberg News reports that “sales grew by 47 percent to $470 million from the same quarter a year ago” and “gross merchandise volume, which represents the value of all goods sold on the platform, increased 46 percent or $5.5 billion to $17.4 billion from a year earlier.”
Also of interest: “Retail merchants are adapting quickly to social-distance selling,” according to a Shopify statement cited by Bloomberg, “as 26 percent of our brick-and-mortar merchants in our English-speaking geographies are now using some form of local in-store/curbside pickup and delivery solution, compared to 2 percent at the end of February.”
Keep reading here.
The (really) big picture
Ad Age has been publishing the Ad Age Agency Report every year since 1945. Producing it is a massive, multi-month effort undertaken by the Datacenter team and Ad Age editors across three cities (Chicago, Los Angeles and New York).
Not to be too hype about it, but it’s one of the must-read reports about our industry, not only for its definitive rankings but for its in-depth analysis of advertising and marketing-services agencies.
To understand where the agency business is headed in these insane times, it helps