As we analyze the pandemic in retrospect, more Chinese consumers (57%) feel that the pandemic has caused them to rethink their lives, compared to their global peers (50%).
While price and quality have long been- and remain- the dominant motivation for consumers’ choice around the world, they have lessened in influence on the new post-COVID consumers. Our research uncovered 4 mega trends of consumer behavior and mindset changes amplified and accelerated by the pandemic.
Three new imperatives to win in the post-COVID-19 era
Throughout the year, we also followed and witnessed numerous success stories of businesses launching innovative initiatives aimed at seizing the opportunities presented by these trends—everything from evolving brand DNA and values to rethinking routes to market to incubating new business models. In order to meet new customer expectations and win in the post-COVID normality, they need to align with the new trend imperatives.
- Evolve the brand DNA and values
- Rethink routes-to-market
- Incubate new business models