Consumers are still buying but category specific insight is critical
Retail sales have taken a knock due to lockdown. 43% of consumers also say they are less interested in buying things than before (Emotional Logic), with clothing and footwear the hardest hit and most non-food categories going down. And while people are spending more on groceries (25%), alcoholic drink expenditure overall has remained the same – it has merely shifted from on trade to supermarket. But the truth is – consumers are still spending money. 44% of consumers have made non-essential purchases during lockdown, to treat themselves or others (Bauer Media). In fact there is a wide range of products from bicycles to make up that have actually had a sales surge during lockdown.
Consumers are still open to new brands
38% say they have discovered new brands during lockdown that they will continue to buy (Emotional Logic). Research also found that more have bought than had intended to buy when asked at the beginning of lockdown (Bauer Media). So there is still opportunity to find new customers as behaviour changes coming out of lockdown.
The key to successful strategy is insight into specific product categories – storage solutions, cosmetics, indoor plants, exercise equipment, bicycles for example have all experienced growth. But – expect things to change again now that pubs and hospitality have reopened. So knowing exactly what is trending when is essential for a successful marketing strategy.
Whether you need insight to adjust your strategies for existing brands to the new normal or are thinking about launching new products we can help you get it right. Emotional Logic is a specialist behavioural insight agency and we offer a range of cost effective research solutions to ensure your strategy connects with the constantly shifting needs of the consumer. Please get in touch for a free consultation.