The COVID-19 pandemic has led to changes across various aspects including the economy, society, business, and consumer behavior. Marketers predict that COVID-19 will act as a catalyst for the emergence of a new normal in the future. Mindshare Thailand has released research titled The New Norms: How Life Will Unfold After COVID-19, revealing 7 trends that indicate consumer behavior post-COVID disruption.
Ms. Nattaya Piyawirojsethi, Director of Business Planning at Mindshare Thailand, stated that the consumer behavior trends following the easing of COVID-19 may not be entirely new. Marketers have long discussed issues such as the role of digital globalization in consumers' daily lives and the increasing focus on health. However, the COVID-19 pandemic has accelerated these trends, making them more commonplace.
7<\/span> Trends Shaping Consumers
The 7 trends include:
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1.<\/span> Reverse Globalization: The COVID outbreak in China disrupted production, causing a domino effect on imports and exports. This crisis has made brands and consumers more aware of the need to rely on domestic production. We will see a shift in manufacturing back to home countries and a reduction in reliance on single production bases, while product design will still remain global.
Meanwhile, the general public is becoming more self-reliant, adapting by enhancing various skills to cope with changes, such as holding a regular job while seeking additional income.
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“<\/strong>Digital<\/strong>”<\/strong><\/span> as a Fundamental Aspect of Life
2.<\/span> Digital has become a fundamental aspect of life (Digital Takeover), no longer just a part of it as before. This issue can be divided into 2 parts: In commerce, both sellers and buyers have been forced by COVID to adapt to online platforms, leading to unprecedented growth in sales on marketplaces. This moment presents a great opportunity for brands to market themselves as they gain consumer data, which can be used to retain and expand their customer base, as well as create a competitive advantage.
Additionally, the booming e-commerce sector, driven by fears of the virus, has led to growth in delivery services and electronic payment systems, making cashless transactions more prevalent. The stay-at-home policy has forced event businesses, which traditionally provide direct customer experiences, to pivot towards creating virtual experiences, such as Google virtual museum tours and food trucks utilizing Google Maps for operations.
“The digital future will become our life, serving as a fundamental infrastructure like water and electricity, as it greatly enhances convenience.”
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“<\/strong>Big Data<\/strong>”<\/strong> Transforming Brands
3. Big Data is reshaping brands (Emergence of Big Data): The use of big data will become more effective and powerful in marketing, as it can quickly address various issues. Therefore, businesses must accelerate the collection of necessary and useful data, such as customer transaction data, to develop promotions and encourage repeat purchases.
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Continued Strong Focus on Health
4.<\/span> Elevated Health and Wellness: Even as COVID subsides, behaviors such as handwashing and wearing masks for disease prevention, along with health consciousness regarding diet and exercise, will persist. The healthcare system is expected to evolve to provide easier access for the public.
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5.<\/span> Physical Distancing Continues: Although consumers yearn for pre-COVID lifestyles, such as dining out and socializing, they will maintain physical distancing. This is evident in restaurants that have implemented partitions and arranged seating to ensure distance.
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6.<\/span> Happiness is Redefined: Being at home and working remotely has led consumers to find joy in small things around them, such as enjoying a simple coffee at home with frothed milk for a touch of luxury, gardening, or using an air fryer. This presents a challenge for brands to become part of consumers' happiness.
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Brands Supporting Consumer Self-Reliance
7.<\/span> Prepare for the Next Disruption: This crisis has made brands and consumers aware of the need to be prepared for future crises, focusing on self-reliance and enhancing essential life skills, including the feasibility of working from home during social distancing. In the future, brands should play a crucial role in promoting or assisting consumers in becoming more self-reliant.
“Humans are social beings who find happiness in living outside their homes. However, the COVID crisis has shaken the world, and even as it ends, consumer behavior will increasingly prioritize health, with digital growth continuing to meet convenience needs and maintaining social distancing. Marketers and brands must understand the new normal in consumers' lives to adjust their marketing communication strategies and create a competitive advantage in an increasingly challenging business landscape.”
