The Covid-19 pandemic is the most life changing event of the 21st century. It has changed the way we live and think, most noticeably in our buying behaviour.
Some of these consumer behaviours (excluding toilet paper hoarding, of course) may be here to stay.
During the pandemic, many residents saw their local businesses shuttering their stores, leaving behind fond memories and nostalgic flavours.
While not being able to relive their memories saddened many residents, it upset them even more that families and close friends have had to give up their livelihoods. This prompted a huge movement to shop local.
It’s great to see customers connect and support their communities. It is also a sign that customers are more aware of where their products are made and are focused on helping local industries.
Not to state the obvious, but health is on the top of everyone’s minds during a pandemic. Therefore, customers are more geared towards products that contribute to their health.
This behavior has led to a more health-conscious mindset in consumers. An article by Food Navigator-Asia points out that many people turned snacking from a convenient comforting activity into a healthy and nutrient rich one as the lock downs grew longer. Consumers were seen to replace their chips and crackers with nuts and seeds.
In turn, businesses have to be aware of how their products or services affect the health of their customers.
It’s inspiring to see businesses work around the new social distancing rules by providing consumers with digital options. These options enable contactless service and reduces consumers’ exposure risk to the virus.
Many restaurants have digitised their menus and payment methods, allowing customers to access them by scanning a QR code with their phones. Other businesses have moved to e-commerce platforms.
McKinsey noted that the pandemic has sped up business digital transformations by 7 years. The research also anticipates that the biggest and most cost-effective digital changes are likely here to stay.
So, businesses have to invest in technology in order to keep up with the competition.
Delivery services were already popular before the pandemic, but now it plays a crucial role in helping slow down the spread of the virus.
The largest growth and most in-demand delivery service is food delivery services. Food delivery helps feed families without the risk of exposing themselves to the virus and it also provides employment to the people preparing the food.
As consumers get used to the convenience of delivery, they will probably keep up the habit even once restrictions have lifted.
When lockdowns begin, people were told they should only leave their homes to buy essential items. This caused a shift in priorities as consumers started forgoing unnecessary goods.
Many consumers have also felt the need to help others who have been hit hard by the pandemic. So, they’re more drawn to businesses that give back to the community.
Consumers have become more conscious of their own spending behaviour and have become more caring of others in the community who may be less well off than them.
It remains to be seen if these consumer behaviors will stick after the pandemic as we’ve seen people rush to eat out and shop after lock downs have lifted.
But with no end to the pandemic in sight, it’s good to take note of these emerging trends caused by the pandemic.
Share this knowledge with other businesses to keep them up-to-date!