We have identified three covid-era trends in the global Consumer sector that definitely appear to be here to stay
Brand disloyalty A recent McKinsey & Company report says new-normal shoppers are “Trying different shopping behaviours and expressing a high intent (65 percent or more) to incorporate these behaviours going forward.” It’s a good time then to launch a new product or brand.
Valuing value Digital ad-platform Criteo amongst many other commentators pinpoints “A feeling of economic insecurity, leading to price sensitivity.” And documents consumer “deal-seeking” and a “cutting back” on non-essentials and luxury goods. For the new-normal consumer price may be the key barrier to purchase.
Home cooking baked in A new (Jan 2021) Researchandmarkets.com report highlights 60% of global consumers claiming “They will cook more meals at home in the ‘new normal'." If staying in remains the new going out the recent trend for restaurants to deliver is likely to prove a permanent one.
Extract from Human Capital – Drayton’s business magazine.