New Consumer Landscape: Rethinking Consumer Industries

Delivery

This report comes in PPT.

Key Findings

The consumer landscape has been transformed

The COVID-19 pandemic has changed the global business landscape, as well as how consumers live, work, play and shop. This has, in turn, transformed the consumer landscape, giving rise to new consumer needs and priorities. Companies will need to rethink their strategies and innovate to meet the needs of post-pandemic consumers.

Everything goes digital

As consumers increasingly adopt digital lifestyles, businesses across industries are accelerating digitalisation to connect directly with consumers. Digitalisation is more than just e-commerce, as it also encompasses innovative technologies to improve products and services, and to increase operational efficiency through better logistics and supply chains.

Home is a sanctuary and a hub for many activities

While consumers seek to release their pent-up demand for out-of-home experiences, more home-centric lifestyle are here to stay. Therefore, businesses need to adapt and develop products and services for home occasions. As they seek to reach the consumer in their home, the home is now the last mile.

A polarised world due to deepening inequality

Consumer industries find themselves serving an increasingly polarised consumer market, as the COVID-19 pandemic exposed and increased inequality. In this new consumer landscape, a greater focus is being placed on value, rather than premiumisation, in order to drive volume.

Social and environmental responsibility

As a result of growing pressures from both consumers and regulators, businesses are increasingly putting social and environmental responsibility at the heart of their organisations. This starts with enhancing sustainable, inclusive business practices, but it is also about how businesses can help consumers make a difference through their consumption decisions.