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.
This report comes in PPT.
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.
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.
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.
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.
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.
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