This time of disruption is moving many away from familiar shores. It’s a wake-up call to do more than just survive. Grappling with unforeseen challenges has left everyone baffled, and no one is certain of the way  forward. Pursuing the core purpose of the brand with the unified energy of all team members can bring transformation.

In these challenging times, the inability of brands to adapt their Operation Systems, Business offerings, Technology and renew their core purpose can lead to a breakdown. But what’s essential going forward is to adopt a people-first approach. Brands need to be attentive to the huge shift in behaviour.

The words of Henry Ford “If I had asked people what they wanted, they would have said faster horses” continues to hold true in the current context. People will never know what they want, especially in this overcrowded marketplace. Brands play a responsible role in decoding the essence of these needs and connecting them to their refined offerings.

With every passing day, consumers are evolving and re-evaluating their principles. According to a study by McKinsey on consumer sentiment¹  since a majority of consumers are expecting a long-term influence on their routines and finances, it is likely they will continue with their new code of life in the post-COVID era. This clearly demands that brands revamp their methodologies.

According to McKinsey’s research, these are some of the major trends reflecting consumer sentiments:

1. Expedition of online shopping
Due to the lock-up situation, the e-commerce market is booming and this pattern will continue in the post-pandemic era. Many consumers have shown a preference to continue shopping online. This means a digital strategy for brands is vital.

2. Deep cuts in non-essential spending
Consumers all around the world are experiencing a decrease in income and disposable income is deteriorating. People across the world currently admit to spending more on groceries, stay-at-home necessities and home entertainment. Non-essential spending is down. 

3. Adoption of virtual and low touch activities:
The study also reveals that when the world resumes functioning people will be reluctant to go back to in-person activities. The willingness to go to malls, domestic travels and large gatherings shows a negative projection. Meanwhile, people are weighing their options and finding replacements for crucial in-person activities like shopping, schooling and eating out.

What does this mean for brands?

The era will give birth to new competitive opportunities: to navigate through these ambiguities, brands need to have a blueprint in place to sustain, recover and lead. 

Brands in this post-post pandemic² will be digital and data-driven; They will engage variable cost structures and agile operations to have a secure e-commerce position.

• For the  Health and Pharma industry, the digital journey for consumers becomes essential in giving a makeover to their past operations

• The hardest-hit hospitality, tourism and aviation industry will have to resuscitate their consumer experiences with contactless interactions. One of the Melbourne restaurants carried out a simple pivot³ to keep itself afloat — they introduced meal kits with ingredients, which were door delivered. The consumers could then follow a masterclass to cook the dish on their own. Within two days, the restaurant saw a surprising turnaround  and the most fruitful days.

• For schools and educators, rethinking the usual norms of functioning is a must. For instance, Scotland is establishing alternative offline solutions for schooling⁴ and turning outdoor nurseries into schools.

What’s imperative for survival?

Being able to declutter the ever-evolving market shifts and interpret appropriately can help tide over unpredictable waves. It’s important to make a well-informed and critically assessed step by understanding consumer behaviour indicators. Through these conclusions, identifying legitimate insights are critical to structure your go-forward strategy.

Our case study: In the past, We have helped young brands like Nestaway to find their value proposition through a deep understanding of the consumer behaviour and translated the concept via an omnipresent and flexible branding system and creating open platforms for young people. Check out case studies: Link

Let’s talk about the shift you are making to the new world. Collaborate with us on four new avenues of fueling your business with purpose led-action, humanistic digital spaces, staying relevant or any new beginnings. Build with us the perfect product for your new transformed consumer. Feel free to contact A. mukherjee of Lopez Design

Sources:
_1. Mckinsey: Consumer sentiment evolves as the next “normal” approach
_2. COVID-19: 5 priorities to help reopen and reinvent your business
_3. This Melbourne restaurant is seeing business boom after COVID-19
_4. Scotland eyes outdoor learning as model for reopening of schools

Written by Sukanya Panda
Illustration: Siddharth Kothiyal