Emerging From the Pandemic: What’s Next for Consumer Behavior?

It’s no question COVID-19 significantly impacted how we behaved as consumers, and from rapid adoption of digital services to shifting buying habits—many of those behaviors have changed for good. Here are just a few we expect to continue.

• Digital adoption will remain high
  As consumers continue to enjoy their own home as their main hub, they have grown accustomed to the ease and simplicity of online grocery shopping and the multitude of other food delivery services (meal services or food delivery platforms). They’ve also adopted new digital behavior related to their own personal care. From streaming in- home fitness classes to digital fitness equipment, people are caring for themselves in a whole new way. Even adapting, and increasingly preferring virtual healthcare visits, as the primary means of staying connected with their healthcare providers.
• Shifts in brand choice have staying power
  50% of consumers shifted their brand buying behavior during the pandemic due to availability and perceived value. Over 65% of consumers switched their brand choice simply because the desired item was unavailable, while 29% switched brand choice due to perceived value or promotion. Brands will need to ensure their products are always accessible, or provide a recommendation to maintain brand choice. They will also need to keenly focus on their perceived value to both stay top of mind and keep up with the new demands of the consumer.
• Loyalty will continue to drive unique member experiences
  When it comes to managing loyalty programs and the evolving expectations of the consumer, brands should consider that the programs which allow members to quickly and easily earn points are still considered best-in-class. Gone are the days of complicated point structures that take forever to earn a reward. When asked about their preferred programs structures, 70% of people still prefer discounts and 64% of them expect to receive personalized offers based on past purchases.

The Takeaway:

Customers want, and now expect, more options and more ways to tailor their experience. Is your brand ready to confidently deliver on more cohesive, multi-channel customer experiences?