The pandemic has fundamentally changed the world as we know it. People are now living, thinking, and even buying differently. Dealing with collective trauma, consumers across the globe continue buying, but they now see brands and products through a new lens. And these changing consumer attitudes and behaviors will likely remain post-COVID and shape the future of many industries.
No matter the industry your business belongs to, you have to look at these changing consumer trends. These could give you a huge clue on how to make your brand stand out today and in the coming months.
Increased Digital Adoption
In many industries, the shift to digital has always been a hot topic. But not all businesses were keen on hopping on the bandwagon, especially those in industries that were used to doing business traditionally. Then, the COVID-19 pandemic happened. Lockdown measures were put in place. Shops shut their doors, countries imposed travel bans, and many employees had to work remotely from their homes. Suddenly, the majority of the population needed to do all their business and shop daily services online.
The COVID-19 pandemic has accelerated digital adoption in businesses. Many mom-and-pop shops and small retailers built websites and created accounts on e-commerce platforms to continue selling. Financial services, real estate, and other traditional industries also had to turn to digital tools and apps to survive.
No matter the industry you belong to, it’s now undeniable that you have to compete and thrive online. You have to maximize the power of web design and many facets of digital marketing to ensure you’re getting the attention of your buyers online. Online shopping is no longer age-related or industry-related. It has become essential across generations and industries. Many people have adopted a “millennial mindset” in which they turn to friends and digital channels to learn about a product and buy it eventually. They no longer go to traditional sources of information to make a purchasing decision—always keep that in mind.
A More Conscious Consumption
Consumers have become more mindful of what they buy. Seeing the economic impact of the COVID-19 pandemic, many buyers strive to shop more cost-consciously and reduce food and energy waste. Your brand needs to make giving more customer value a key part of your marketing and outreach efforts.
One way to satisfy this value-based purchasing behavior is to offer personalized and sustainable options. Think of a personalized gift box store or shop. Let consumers pick each item to suit their needs or those of their families and friends. Explore your business model to see whether you can allow customers to customize service packages or choose eco-friendly options over standard offerings. When given the liberty to choose, it’s easy for consumers to feel they have control over how they can get more value for their money.
Don’t be afraid to experiment with your business models and offerings. After all, another observation amid a pandemic is the shock to loyalty. Buyers are more likely to try out new brands when their normal purchasing pattern is disrupted. And if the change of brands or options yields a better value, there’s a high chance that buyers will stay with a new brand. So, now’s a good time to mix things up at your company.
An Increasing Awareness of Health
The rapid spread of the coronavirus and its impact have raised focus on health and well-being. More people are working out at home, eating healthier food, and giving importance to their mental health.
This trend is a huge boost if you’re in the food or fitness industry. But even if you’re in another industry, you can build on this trend to attract more customers and provide them with a better service or value. You can partner with a local gym to include wearables or fitness classes or apps in your offerings. Perhaps, you can offer a free online fitness coaching session for every pair of shoes or baking set you sell. Or you can post healthy eating tips or self-care strategies on Facebook as part of your social media campaigns. The idea is to make it a priority to support consumers’ healthy lifestyles—no matter what you sell.
While purchases have always been centered on people’s needs and wants, keep in mind that consumers are now shopping more consciously, thinking of their health every day, and embracing digital commerce. And these behaviors and attitudes can shape the way the world does business in the coming months. So to make sure you’re at the forefront of your industry, build on these changing consumer trends consciously.