Cov-19 changed the ways our consumers continue to engage with brands. Numerous lock downs and situations forced consumer to spend more time at home, helped them observe and explore brand offers in a different way.
Now more than ever, it is more important to understand these emerging trends in consumer behavior and sense check how these could affect our businesses.
Over the past two years, countries have been fighting pandemic by lock downs and socializing restrictions. Though this was something completely new to all of us, we adapted quickly to new reality. Even though restrictions are almost gone in many places, some of the adapted behaviors will remain with us for long time and may even become our new “normal”.
We would like to bring your attention to few things here:
01 Digital vs. real
Consumer have learned to live in and through digital worlds. Online stores became reality even for those consumers that we never thought would engage with digital world (e.g. seniors, baby boomers, etc.). It will be very difficult to leave this behind just like that. On the other hand, physical stores will still be important – after all, we are humans, and it is important to touch-and-feel what is being considered for purchase. How will these boundaries between online and offline look like?
02 Raising expectations
Virtual reality that we have been living through in the past 2 years have raised the bar for physical stores. Standard merchandising will no longer be good enough to keep customers happy and engaged. Further to this, the excitements of digital world will need to live across physical world.
03 Social & environmental concerns
We all know that consumers may not be ready to pay more for products that take care about our world and environment, but this will definitely be a deal breaker to enter their consideration sets. Consumers hold companies 100% accountable and will demand actions to save our planet and society we live in.
04 More health conscious
This should not come as news. Consumers are by far more health conscious than before. But this goes beyond just physical health. We talk mental health and wellbeing more and more. The global pandemic has caused people to think about ageing. In particular, how they can lead a healthy lifestyle into their old age. This will put more pressure on brands to deliver on this throughout 24 hours day of your consumers.
05 New currency on the table
During lock downs, new currency emerged in our consumers lives – TIME! More then ever, they understood what it means having more time for hobbies, family and other things in their lives that were consumed by commuting, work, and everything else. This currency is more valuable than any and they will make sure it does not disappear from their vaults.
What does the above mean for your business and brands? Let`s talk.
