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COVID-19: How consumer behavior will be changed

abril 28, 2020

RESEARCH REPORT

In brief

New consumer behaviors will transform the industry's future

Getting to know the consumer in crisis

New buying behaviors in this new normal

New—and everlasting—shopping habits

The ever-increasing focus on health

CPG brands should heed this change and make it a priority to support healthy lifestyles for consumers, shoppers and employees. Having a “health strategy” will be a strategic differentiator for the foreseeable future.

A rise in conscious consumption

Consumers are more mindful of what they’re buying. They are striving to limit food waste, shop more cost consciously and buy more sustainable options. Brands will need to make this a key part of their offer (e.g. by exploring new business models).

Growing love for local

The desire to shop local is reflected in both the products consumer buy (e.g. locally sourced, artisanal) and the way they shop (e.g. supporting community stores). CPG brands will need to explore ways to connect locally – be it through highlighting local provenance, customizing for local needs or engaging in locally relevant ways.

The social impact

80%

of consumers feel more or as connected to their communities

88%

of consumers expect these connections to stay intact long after the virus is contained

A new virtual workforce

46%

of people who never worked from home previously now plan to work from home more often in the future

Staying connected with consumers

Respond

  • Stand up a cross-functional command center with KPI tracking
  • Create an Elastic Digital Workplace task force
  • Reshape your marketing plan around new demand and brand purpose

Reset

  • Redefine relationships with consumers, customers and employees and reimagine your organization and ways of working
  • Rethink and redefine relationships with ecosystem partners
  • Reconsider your product and service portfolio

Renew

  • Accelerate the move to an intelligent data-driven operating model
  • Reprioritize enterprise investment plans for post-COVID era
  • Scan market for M&A opportunities

Contact us

Oliver Wright

Senior Managing Director – Consumer Goods & Services, Global Lead

Emma Blackburn

Research Senior Manager – Consumer Insights