Buying behavior after COVID-19
Normalizing the ‘New Normal’
What we are all calling the commencement of ‘New Normal’ post Covid 19 hit is now on the verge of changing the behavioral patterns of consumers in all the industries.
While days pass by & the lockdown gets lifted slowly & steadily at different times across different countries around the world, some industries are pacing as they witness a high demand in consumerism, there are others who might take time to circle back to the normal before it all started.
The two main factors that are to be taken into consideration are consumers concern about their health & the impact this crisis has had on their financial status. Just like the businesses, consumers are also facing financial crunch due to either loss of payment, loss of job, or reduction in their payment, which contribute to their purchase decisions. Consumers will think & re-think about their shopping, buying, purchasing priorities once the lockdown is over.
Take the most day-to-day relatable example of Coronavirus impact on consumer behavior – food consumption. Consumers are reluctant about going to restaurants & cafés. A LocalCircles Survey indicated that 87% people do not want to visit food places & 25% would opt for food delivery. Although the majority states that people won’t go, for food businesses to pick up their business, they have to begin with relying on that 25% who still want to have food from outside but would like it to be home delivered. So here, the initial steps would be to start home delivery & register it on food delivery apps that people use in large numbers. As far as people’s concern about their safety goes, it is important to look after these precautionary measures as well. Consumers should feel safe about buying or getting food home delivered. Safety should be implemented at restaurants, by the chefs/cooks, & by the home delivery employees.
This is one small example of one major industry & how they can start recovering from the crisis. Increase in consumerism has been observed in medical & essential consumer goods industry and coronavirus effect on them. Masks, gloves, sanitizers being the vital protectors from Covid 19 virus, have granted a major demand. Once cities reopen, businesses like printing & signage might observe demand for Covid 19 precautionary signage & labels. Below is the Covid 19 impact on consumer trends.
Personal Health Followed by Concern for Friends & Family, Prioritizing Consumption & Buying Needs, Deciding to Go Vocal for Local
Covid 19 evoking 3 major consumer concerns & needs
What’s been the most go-to solution for buyers during the lockdown & post-lockdown? The answer is a- Brand’s Social Media & Online Presence. When a consumer who wanted to buy a piece of property couldn’t due to lockdown, made him shift to hunting properties online. In a bigger picture, we can say that a brand who is absent online did not exist at all for buyers. Surveys like the one above are evidence that buyers are more likely to shift towards E-commerce rather than go out & shop for themselves. All this boils down to one thing, which is having an Online & Social Media Presence. The more you promote your brand & business online the more it reaches people & more is the probability of people noticing it & going for it.
The content, designs, promotions that you do online or on social media should be a result of the current circumstances. Which are- relating them with Covid 19 crisis, how your business is taking care of the buyers, & most essentially along with your unique branding why should the buyers choose you post the pandemic.
Brands & businesses have to adapt as per the buyers ‘New Buying Mantras!’