Post-pandemic, I don’t think we will ever forget going into a supermarket or even a corner shop and not being able to buy toilet roll because the shelves had been cleared… I’m sure there must be some people in the UK that still have a vast stock in their airing cupboards, kept there, hidden away, like a guilty secret.
Normal consumer shopping patterns completely went out of the window as fear about the Coronavirus spread like wildfire and stockpiling became a thing. As a result of this new way of shopping, many supermarkets placed a limit on the number of items each customer was allowed to purchase. A report from McKinsey found that 75% of consumers have tried new brands due to limited product availability. Mckinsey also highlighted four alternative key themes that were prevalent across the globe; shift in value/essentials, flight to digital and omnichannel, healthy and ‘caring’ economy and a homebody economy.
For many brands, it’s a whole new market and it’s now, more than ever, essential to put consumer interests first. A report published by Deloitte suggested that brands may have to take a hit i.e. being more flexible with refunds and reduced pricing, by helping customers through the crisis it will be beneficial to the companies and brands in the long term.
It has been tough for businesses to keep in touch with customers since March – with companies such as coca-cola halting any marketing efforts for seven months, to donate $120m to Covid- 19 relief efforts instead.
Alternatively, customers are purchasing online, resulting in many brands who haven’t previously had an online presence having to quickly adapt or create an e-commerce strategy.
With the relaxation of the lockdown restrictions, the Highstreet begins to reopen. However, many consumers remain cautious about going into shops for ‘non-essential items’, therefore many consumers are going online and buying what’s available and convenient rather than purchasing a product because of its household name.
Now is the time to make sure you have a strong brand image, accessible via both online and offline channels, at a price point that is accessible to a wide range of consumers.
Wish is an award-winning integrated marketing agency, get in touch and we can help and support you. Whether that being through e-commerce strategy, social media presence to overall brand image.