Consumers are adopting DIY and nesting behaviors.
With more time at home than usual, consumers are taking a DIY approach to everything from online education and home décor to gardens and homemade wellness products. Consumers may choose to go the DIY route for many reasons. Many in-person activities have been canceled, so people are scared to go to public locations like supermarkets. They also have more spare time.
Consumers feel more comfortable with digital channels.
Online and convenience shopping increased as people started ordering more groceries, household products, and clothing online. Consumers are becoming more conscious about spending on everyday goods. They are more willing to pay for the convenience of delivery services and other contactless shopping options.
Many of these trends will continue even after the pandemic has passed. For example, according to Mckinsey & Co., 3-6% of China’s new online market share is likely to stay the same, due to older generations being forced to become more comfortable. And among new users of these digital channels in the US, 75% said they plan to continue using them even after returning to the next “normal.”
Companies are innovating to meet rapidly changing demands.
In the current state, existing companies are thinking just as creatively as new ones in response to consumer needs. For example, at the start of the pandemic, consumers rushed to buy sanitary supplies and did not eat in restaurants. In response. A Seattle distillery and restaurant transformed its distillery facility to produce private-label hand sanitizer during the pandemic to stay afloat.
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