Adapting to Shifting Consumer Trends

The world as we knew it is no longer.  The question of whether and how fast we return to past ways of living is an unknown that only time will answer.  My team and I have been reflecting on how consumer trends and behaviour patterns have changed over the last couple of months and which are most likely to continue after global recovery from the virus.  These are our top picks.

Customers are Online

The proportion of online sales against all retail sales has soared. The biggest change is amongst the previously resistant older generations. Having now successfully tried and tested e-commerce will they look back?

Consumers wish to shop locally

Supporting local businesses is increasingly important, but features such as free shipping, click and collect and stock availability can swing decisions away.

Transparent pro-active communication

Customers have an increased expectation of updates and information.  Understanding the where, when and why has never been more important.

Importance of functionality

With lower discretionary spend likely during the possible post-pandemic recession, consumers will limit purchases to things they need and which serve a purpose or function.

Latchkey loyalty

Consumers are seeking more freedom and flexibility when purchasing. Accessing benefits that subscribing to a product or service brings, but having the choice to skip, amend or cancel at will.

Community spirit

There has been a marked rise in awareness of the wider community and their needs during the lockdown period.  An army of volunteers has made themselves available to support others who require help.

Hygiene awareness

Booming sales of soap and hand sanitiser alongside messaging encouraging frequent hand washing have created a hygiene mindset.  Everyone is attuned to how germs spread and best practice for stopping them.    

Return to DIY

With plentiful time at home and social lives put on hold, alongside a nervousness of allowing strangers into homes, DIY has had a huge resurgence.  Google searches for DIY have more than doubled in the UK since lockdown began.  Will these new skills be transferred onto boats and how many home projects will be undertaken.

Presence free living

Remote working and socialising have become the new norm, with the likes of Zoom, Teams and House Party entering every aspect of life.  Have increased efficiencies cemented these tools as part of our existence?

Consumers are forgiving and willing to wait

The public accept that businesses face unprecedented complexity at present and when kept informed and are willing to wait longer for a response or delivery.  Will impatient “want it now” attitudes relax to accept a slower more sustainable pace going forwards?

These trends are just some of those likely to evolve rapidly over the next few months and we will have to wait and see which harden into habits and which should be parked in the minds of business owners and marketeers for the future.  What is vital right now, is that we all think about the future and what tweaks and adjustments to make, to keep on top of this huge lifestyle shift.