The new consumer drivers for the post-pandemic age

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COVID-19 and recession mean the next 18-24 months will be a difficult time in which resilience planning will be essential for businesses everywhere; a new white paper from WGSN sets out what marketers need to know. 

The new consumer drivers for the post-pandemic age
The new consumer drivers for the post-pandemic age – www.brandspurng.com

The Value Shift, from WGSN, a global authority on consumer and design trends (and a sister company to WARC), identifies the consumer sentiments that will be uppermost in a changed world and the business strategies necessary to address these.

Specifically, WGSN highlights the following five new Consumer Drivers:

  • Financial Anxiety: The tough economic climate will drive low-impact consumerism and a desire for products with purpose and longevity.
  • Health Concerns: Wellbeing was already under the spotlight but add in the fear of physical and mental safety concerns – and with self-care a rapidly growing industry – it’s little surprise that this is critical consumer sentiment.
  • The Loneliness Syndrome: A pervasive issue pre-COVID-19, loneliness has been driven by the switch from physical to digital connectivity and an increasingly desynchronised society. Post-pandemic ‘quarantainment’ will increase, becoming a new multigenerational normal.
  • Quest for Truth: Prior to the pandemic, inaccuracies and falsehoods became a battleground in an increasingly partisan and post-truth world. Coronavirus has put a premium on truth. Keeping consumers reliably informed has never been more critical.
  • Safety Fears: From social and political unrest to the global pandemic, safety and security is the great demographic and socioeconomic unifier. We are seeing a rise in collective trauma that is making the sanctuary of the home more important than ever.
Read Also:  Majority of Nigerians feel unsafe - Report

And WGSN then advises the following five Resilience Strategies:

  • Add Value by creating not just own-value ranges and affordable lines, but also think multipurpose and multifunctional products – and for beauty and household essentials, go big.
  • Deliver Wellness for consumers who are health-conscious and looking for holistic solutions, addressing diet, beauty, fitness and home hygiene.
  • Gain Trust for consumers who value truth. Be clear, open and honest about your supply chains. Take corporate social responsibility seriously and show you care.
  • Promote Togetherness and inspire community spirit in both the real and digital world, through third-space opportunities and products that bring you closer to your customers.
  • Offer Comfort & Reassurance in multiple ways. Recognise the home as the primary focus for work, rest and play. Add protective layers in apparel and beauty for life outdoors.
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Read Also:  Boom For E-Commerce As Jumia, Konga Plan $1.5B, $3.2B IPOs

There are, says Bethan Ryder, Editorial Director, WGSN, “multiple opportunities and solutions for brands, from ways to win loyalty with their consumers in a tough economic climate, to the rising importance of wellness and products that add value with purpose.”

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