Consumers in Lockdown: Business Models to Reach at-Home Consumers During COVID-19

Delivery

This report comes in PPT.

Key Findings

Acceleration of home cocooning trends

With many consumers stuck at home during the COVID-19 lockdowns worldwide, consumers are redefining and adapting their daily routines. This is further reinforcing many of the pre-COVID-19 trends towards “hometainment” and digital experiences.

Digital diversification is a necessity

Digital channels are essential for companies to reach at-home consumers. Engaging effectively with consumers demands new approaches, including new sales channels, new content-development strategies and much smarter and targeted marketing techniques. Global e-commerce retail value reached USD2 trillion in 2019.

Collaborations in social media and livestreaming

With in-store experiences severely limited, brands and manufacturers have to create strong tie-ins with social networks and livestreaming services in order to engage audiences and recreate a real-time shopping atmosphere.

Sensitive marketing

Throughout the pandemic period, companies must market carefully and sensitively. A hard sell is unlikely to be appreciated at the moment. Campaign strategies need to be rethought and retargeted. Global online adspend reached USD292 billion in 2019.

Companies must be prepared to pivot

Companies across multiple segments are facing the need to reinvent their business models to survive. During this difficult period, firms must be willing to adapt and innovate rapidly or face being squeezed out of the market by nimbler, more agile competitors.