The Key insights of this pandemic when it comes to consumer behavior :
Watch Insights details and other trends: 9”00 → 19”15
A huge shift in channel behavior has created new trends and landscapes which brands need to operate in. “During the pandemic, people were going close to home, in more intimate settings to do their shopping. Convenience stores and even vending machines started to see a rise. We see that 56% of consumers are exploring new platforms for grocery shopping”
“ Everything you saw today shows that investing in digital is a smart move. But the penetration in categories in China is still mostly sub 50% online, so there still a huge amount of offline retail to consider in your strategy.”
An other things which is important is optimizing marketing around immediate area. “This idea of hyperlocalization creating communities. How to focus on that to drive sales is going to be important for retailers.
What behavior(s) will stay / normalize?
“When we analyzed consumer behavior at the end of 2019, we were already seeing a rapid evolution. There was enormous growth in mobile time-spent, which is not surprising in a nation that is already mobile first.
There was enormous growth in the amount of social activity we were seeing. Covid only sped that up as audiences turned digital brand experiences to cope with being trapped at home. GenZ creators became powerful content creators that are shifting the scales from brand / network created content to consumer created content.” What’s more, GenZ is being paid for their creative work, showing the dramatic rise in what peers / influencers say over any other. Covid only sped that up.
In line with the growth of content creator behavior, the rise of livestream has been phenomenal. It has become a powerful tool for social connection, and it is quickly becoming a critical form of brand experience for consumers. “With the rise of covid, livestream becomes the sole form of real-time connection with audiences favorite celebrities and influencers, giving them seemingly one-to-one experiences.”
Watch brand case studies: → 50”50
Pandemic is catalyst for innovation in experiential marketing. “ Some brands have been extremely innovative during the crisis through their content, products, services and offerings.They are using existing resources as a temporary solution with no doubt. A lot of these temporary solutions has actually set the new standard for the market ”
Contact becomes contactless. “ Digital has really provided us the ability to stay connected without connecting physically ”, and encouraged brand to innovate and continue to meet changing needs. “ The need of having a personal vehicle has been growing a lot, because it was seen as safe to go anywhere which leads to a rising vehicle upgrades demand ”. Ford managed to use a digital solution to answer this demand while respecting measures. All the schedule, and the location of car and keys drop-off and pick-up (secure box for the key) was digitally managed. Furthermore “ Live Streaming is being used in a different way by Ford: showing picture of the vehicle while Ford repair it to provide a sense of transparency and comfort while the vehicle is away from the customer. ”
Watch other examples of digital initiatives in the beauty & fashion markets: 36”21 → 41”28
“ Brands nowadays are providing a holistic brand experience. Customers don’t really distinguish from one product to another. The experience provided become the differentiator for them to stand out in the market ”
“ The opportunity for a lot of brands is to focus on acquiring customers and building brand loyalty which nowadays means, the brand needs to be loyal to their customers”