New Consumer Landscape: Rethinking Consumer Industries

May 2022

The COVID-19 pandemic has transformed the consumer landscape, giving rise to changes in consumer priorities and preferences. This requires companies across a range consumer industries – from alcoholic drinks and apparel and footwear through to home care and consumer finance – to rethink their strategies and innovate to meet the changing needs of post-pandemic consumers.

USD 1,325
Request More Information

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.

Introduction

Scope
Key findings
The new consumer landscape: The big picture
Major behavioural shifts shaping long-term consumption
How consumer industries have been transformed

Alcoholic Drinks

Long-term impacts of COVID-19 on alcoholic drinks
Drinking goes digital
The dawn of a polarised world
Home as an entertainment hub: The rise of hometainment

Alcoholic drinks

Digital-first and empathy for the online

Apparel and Footwear

Long-term impacts of COVID-19 on apparel and footwear
From e-commerce to the Internet of Things
Supply chains reboot through diversification and digitalisation
Towards more circularity and purpose: Growing pressure from consumers and regulators
H&M Group pushes international expansion of Sellpy in the midst of COVID-19

Consumer Finance

Long-term impacts of COVID-19 on consumer finance
The accelerated shift away from cash for payments
More consumers adopt financial services
Proximity m-commerce and contactless become standard
Interac contributes to the modernisation of Canadian mobility system

Food and Nutrition

Long-term impacts of COVID-19 on food and nutrition
Digital and quick commerce can re-invent impulse food consumption
Many meals stay in the home
Sustainability challenges gained visibility
Immune health a path, mood and focus management an avenue
Nestlé has developed a new product with sustainability and affordability in mind

Home Care

Long-term impacts of COVID-19 on home care
Post-pandemic consumers demand products that deliver both efficacy and efficiency
The pandemic accelerates the arrival of new technologies
Who owns hygiene
Home as sanctuary
Crisis psychology to help increase demand for home care
Greater inequality may prompt middle-income consumers to trade down and cut cost
Beko’s HygieneShield serves as example for hygiene being top of mind for R&D

Conclusion

The new consumer landscape
Meeting consumer needs in the new consumer landscape
Share:

NEW REPORT GUARANTEE

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Home Page