5 Key Trends that will shape post lockdown consumption
On thing is clear – we are at a crossroads and consumer and shopping behaviour will change dramatically as a result of this crisis. Of course there will be economic impact, loss of jobs, loss of discretionary income – but there is also a change in consumer motivations and that will make this crisis have a bigger impact than the 2008 recession. Only 10% of consumers [in Emotional Logic’s COVID-19 survey of 2,000 people] actually want things to go back to the way they were.
This pandemic and lockdown have changed our priorities in life.
As consumers reconnected with their homes they discovered the pleasures of home cooking and family meals, the big weekly grocery shop has made a comeback as consumers stock up and many are wearing less formal and more casual styles (a trend that started before COVID-19). In our survey of 2,000 consumers 41% intend to spend more time at home even post lockdown. The future will hold an increasing number of us recreating restaurant and bar experiences at home, investing in in-home entertainment (be it video on demand or a hot tub) and setting up better working from home spaces.
Health & Wellness
The daily hour of exercise was taken up by many who now like spending time outdoors, whilst others joined in to virtual fitness classes. One thing is clear almost half of us want to live healthier lives with 43% of those surveyed [Emotional Logic] wanting to exercise more and 39% to eat more healthily – sportswear, health food providers, vegetable and healthy eating products are all likely to benefit going forward. A fast return to gyms is less likely as consumers are shying away from indoor spaces and the expense of membership in face of the recession. As more people are seeking the outdoors and practical as well as safety concerns reduce appeal of holidays abroad – domestic holidays and days out are likely to benefit.
Time for reflection has led the vast majority (76%) to say they want to live more in harmony with the planet, and they are expecting brands to help them – from the emerging slow fashion movement, natural beauty products, ethical retailers to sustainable packaging solutions, brands that connect with this underlying need are likely to win loyal customers. More of us are also planning to shop locally to support independent retailers.
Many consumers have revaluated their shopping habits and this along with the coming recession is likely to change consumption patterns. In our survey 43% say they are less interested in buying things. Blind brand loyalty will be a thing of the past in most categories. We will see an increasing focus on discounts and premium brands will have to provide clear advantages (health benefits, more lasting value, ethical credentials) in order to convince shoppers to pay more. Affordable treats will still be on the menu – from gourmet foods to cosmetics. Fashion brands that offer lasting style over fast fashion are more likely to win.
Trust in Tech
Technology has helped people through this crisis and they are unlikely to forget this. This will lead to an even faster adoption of online shopping for both groceries and non-food – meaning retailers must integrate channels. Technology is also a temporary bridge for brands such as leisure attractions and long haul destinations to keep in touch with audiences in the short term. Technology solutions to entertain, keep in touch, work from home will all continue to develop and electronic products whether personal or in the home are also likely to benefit from this increased goodwill.
Please see our full Post Lockdown Trends Report for detailed analysis of the behavioural changes and how they will impact on retailers, brands and leisure providers.
Emotional Logic is a research agency specialising in behavioural insights and works with brands, charities and public sector organisations to understand motivations and shape future behaviour. We offer a range of fast and cost effective research solutions to help you find out how the new trends will affect your brand and how you can maximise the opportunities arising from this shift in consumer priorities. Please get in touch for a free consultation.