GoPro, the action camera manufacturer has said it will cut more than 200 jobs and shift the company’s sales operation to market its digital adventure cameras directly to consumers in response to COVID-19.
Announced this week, the operational changes, staff reductions of more than 20% and cuts to office space will save $100 million in 2020, and reduce expenses next year to $250 million.
GoPro's shift to direct-to-consumer will clearly mean a stronger focus on its website and its apps.
While GoPro is perhaps a little slow to the party, Nike has already started to build out the playbook for a successful pivot for product companies that GoPro may look to follow.
Broadly speaking, we expect to see companies with existing app (or emerging app) ecosystems, accelerate their direct-to-consumer channel plans in response to COVID-19 and new consumer buying norms.