Bango Quantifies Increases to "Stay at Home" Behavior

Bango provides consumer spend forecast, based on behavior from markets initially impacted by Covid-19

Bango (AIM: BGO), the mobile commerce company, has analyzed payment data from countries initially impacted by the outbreak of Covid-19. Data from Singapore, Taiwan, South Korea, Japan and Hong Kong provides an insight into the likely shifts in consumer behavior in European and North American markets, as governments and businesses respond to the outbreak of Covid-19, adopting "stay at home" policies. A summary of the findings are below:

Online consumer spend following the outbreak of Covid-19

Commerce Category

Avg increase in 1st week of containment

Avg. increase in 1st week of lockdown

Social Gaming

+10%

+21%

Online Goods

+11%

+21%

Streaming

+14%

+25%

Food Delivery

+30%

+40%

Note: These changes represent data taken from one week across a range of sources.

Data points were gathered measuring spend prior to containment and lockdown taking effect in each analyzed market, and measuring growth in online activity in the weeks following containment or lockdown measures. Spending patterns were also analyzed in the US and Italy. Based on the early indicators, it is likely that increases in spending could be twice as high with the introduction of new services to meet demand. Key dates can be found below:

Geography

Containment phase begins

Lockdown phase begins

Hong Kong

22 Jan

n/a

S. Korea

14 Feb

23 Feb

Italy

22 Feb

8 Mar

Singapore

7 Feb

n/a

Taiwan

28 Feb

n/a

The latest information analyzed by Bango includes data from NHN Ace - the leading payment and data company in South Korea and a strategic partner of Bango – which reveals deeper underlying trends in consumer behavior. Following a policy of voluntary self-isolation, South Korea moved to mandatory closures of schools, factories and other meeting places. Bango also owns Audiens, a Customer Data Platform (CDP) based in Milan, Italy.

Commenting on these findings, Anil Malhotra, co-founder and Chief Marketing Officer at Bango said: "The human cost of Covid-19 is truly tragic, and this is a time for us all - individuals, public service providers and businesses - to pull together. The infrastructure of our societies is being heavily tested as we scramble to protect our population’s health and economic well-being. With much of this infrastructure now provided online, Bango is able to identify and quantify the changes in consumer behavior as people isolate at home under emergency response plans. At a time of great concern for governments, businesses and citizens across the world, Bango - alongside other providers of essential online technology – is helping to make it easier for individuals to comply with stay-at-home policies by supporting the sudden increase in people’s need for online services."

This analysis suggests general trends in consumer behavior and is not intended as a forecast of changes to End User Spend or other financial metrics relating to Bango or other online companies.

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About Bango

App developers, stores and payment providers cross the threshold into the Bango ecosystem to converge, grow and thrive. By bringing businesses together and powering e-commerce with unique data-driven insights, Bango delivers new business opportunities and new dimensions of growth for customers around the world. Being inside the Bango circle means global merchants including Amazon (NASDAQ: AMZN), Google (NASDAQ: GOOG) and Microsoft (NASDAQ: MSFT) can work together with payment partners from Africa to the Americas, accelerating the performance of everyone on the inside.

Bango. Think inside the circle. For more information, visit www.bango.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200323005215/en/

Contacts

Media contact:
Anil Malhotra, CMO
anil@bango.com
Tel: +44 7710 480 377