The disruption COVID-19 has brought is far from normal (but a new normal). But for brands it is important to understand this new normal as they look forward to serving their customers. Brands have to brace themselves for more than one way products and services are consumed, stated a report.
A new report today titled ‘Turn the Tide’ by Facebook India-Boston Consulting Group, has highlighted 11 new trends that will change the way brands will have to function. However, the research points to three fundamental themes impacting consumer behavior which are social distancing; health and hygiene and income uncertainty.
Sandeep Bhushan, Director and Head, Global Marketing Solutions, Facebook India said, “As business after business joins the dots to understand consumer shifts in both mindsets and behaviours as a result of COVID-19, we have invested in studying the new paths to purchase in continuing our commitment to enabling growth for businesses both large and small.”
The report suggested that there will be a drop of 85 per cent in the number of visits to public places. Moreover, 79 per cent consumers are not going out of the house, except for work. The consumer is going to get more brand conscious — with focus on the origin of products. This behaviour will more likely be higher among Indians compared to other countries.
The report pointed out 43 per cent consumers are expecting decrease in overall spend in next six months. It expects purchase triggers to become more functional.
Over 40 per cent of consumers are dialing up on health and wellness spends, e-commerce adoption has already advanced by two-three years and increase in usage of e-wallets has been some of the other highlights of the report.
As people spend more and more time at home, they have developed new habits and hobbies. One such habit which is induced due to COVID-19 is the habit to wash hands. “91 per cent Indian households wash hands more often.
