How Buying Habits Have Changed in 2020
If one thing is for sure, it’s that 2020 has been the year of change. Businesses have closed their doors; some temporarily and some permanently. Supply chains have been put to the test and consumers across the world are looking at their buying habits and their favorite brands in a new way.
Most people expected a change among consumers, even before the COVID-19 pandemic. After all, new and advanced technology will always bring on change. But the pandemic has put us on the fast track to that change. New trends came on quicker than expected and they are here to stay, even after the chaos of the pandemic.
As we return to a new normal, brands must understand the new consumer so we can prepare for what’s to come.
Getting to know the new consumer
Your brand depends on the trends and interests of consumers. Consumers shape your business in more ways than you can think of. To be successful in these challenging times, you must understand the consumer and develop ways to cater to their demands and interests.
Consumers have been greatly impacted by the virus. Whether people admit it or not, there is a sense of fear among consumers. They might be worried about stepping out in public because of the fear of catching the virus. Others are concerned about their economic state and all the uncertainty in the next few months. Consumers are wondering, will they have a job? If they lose their job, how long until they can find another? How will they support their families? These concerns are all factors that have changed buying habits.
Now, there are some consumers out there who are ready to go about their normal lives. They are tired of staying at home. They are ready to get out and enjoy themselves and go about their purchasing habits as if nothing has changed. Your brand must be able to connect with both of these consumers and build a marketing strategy for each.
Here are some of the changes we are seeing among consumers today:
Like we would see with any type of recession, consumers will become more frugal when it comes to spending. Gone are the days when consumers would toss random items into their shopping carts. Before purchasing an item, consumers will be asking themselves, do I really need this?
Consumers have gone into a survival mode. Recent surveys show that the majority of people are only buying what they need, and more and more people plan to increase their savings.
Consumers have not completely cut all non-essential buying, but they are definitely searching for more sustainable items that will last, rather than a product that serves just a few uses.
We have noticed that consumers are prioritizing grocery items, health and beauty items, and products they can use in their homes.
Convenience is Key
While some brands have struggled during the pandemic, others are blossoming and are seeing the most sales they’ve ever seen before.
Those are brands like Amazon, Walmart, and other brands that offer a convenient buying experience.
The online shopping trend was one that was already booming prior to the pandemic but with everyone staying at home, it has only accelerated the trend.
Those who might have never ordered online before, now realize the convenience of online shopping and delivery. They realize that you no longer have to get in your car and drive to a store and search for the item you need. Today, it’s as simple as clicking on the item you need, checking out, and having the product delivered to your home, all from the comfort of your home.
Moving forward, consumers will prioritize convenience. The brands that will be the most successful post-COVID-19 will be those who offer convenience to their customers.
Not only are consumers interested in delivery, but they are more likely to interact with brands who offer what they need when they need it. This means that your website should be easy to navigate and give your customers the information they need so they don’t have to search for it.
There is no doubt that small, local brands have suffered the most during these tough times. However, it is not a lost cause for these local businesses.
Many consumers do acknowledge the challenges that local businesses face and they are doing all that they can do support local businesses. The key to being successful as a local business is connecting with your consumers.
This means being active on social media and keeping your customers up to date with the latest news and updates. Come up with ways to support your customers in return for their support. Consider curbside pick-up or delivery, and be considerate of their demands and expectations.
Now is your time to shine on social media and focus on connecting with more people within your community. Build a powerful social media strategy with messages that resonate with your consumer and your business will make it through!
Supporting Familiar Brands
We get it- there is so much uncertainty and things change by the minute nowadays. What do you say to your audience when things are changing so quickly? Some brands have chosen not to say anything at all and their silence during these challenging times will be the reason they don’t make it through.
It has become a tough competition out there among brands. We are all competing for consumer’s attention. Brands are sending emails with all kinds of deals and specials competing for the sale.
If you have chosen to step back and wait for the chaos to pass, unfortunately, you may be behind the competition. As we adjust to a new normal, consumers will be more likely to engage with a brand that is a familiar voice.
Consumers are more likely to buy from a brand that has been consistent with communication, even during these tough times. Those brands are the ones that hear their demands from their audience and take those demands into consideration.
You do not want to fall off the face of the earth as a brand right now. Now’s the time to get your message out there and be a familiar voice to your audience.
Joseph Studios: Connecting Brands to Consumers
Returning to a new normal will be tough for brands, but you don’t have to go through these unchartered waters alone!
Our team of marketing experts here at Joseph Studios is here to help! We are here to help you better understand your customers and build a message that resonates with your audience.
Don’t forget- the competition out there is tough as brands are all trying to capture the attention of consumers. Don’t fall behind and let’s work together to connect your brand to consumers.