Study found that almost half of consumers have changed their brand preferences
The report prepared in the United States finds some features that can be replicated in other markets
For various analysts, confidence and security will be key for brands
The first semester has been very complicated in every way, without a doubt, the complex global context derived from the coronavirus pandemic has impacted in all sectors. One in particular is consumption, as there are various reports that point to changes in consumer habits and priorities.
Undoubtedly this has an effect on their relationship with brands, as factors such as reducing or freezing marketing and advertising actions, possible errors triggered in this period or an empathetic communication strategy, have an influence on the perception of audiences and on your purchase decision.
Keys to behavior
This can be seen in one of the largest markets in the world: the United States. In this regard, a recent study indicates that the mentioned context, and social factors such as the “Black Lives Matter” movement (re-promoted by the death of George Floyd at the hands of a police officer in Minneapolis) have influenced 45% of consumers to have brand preferences changed.
Furthermore, the report by communications firm Ketchum notes that 62 percent of people expect their brand preferences to be permanently affected before the pandemic ends, and 63 percent report they will buy more private label items. in the future.
Integrating the Brand Reckoning 2020 is the fact that 88 percent of consumers agree that the coronavirus has hurt ethics in the business universe and 90 percent recognize that they now prefer to buy products and services from those brands that They prioritize the safety of their customers and their employees.
In, four types of post-COVID-19 consumers are highlighted: the retro reengagers – those who are ready to return to the world as they were before and will be issued with the new normality; open-minded explorers – those who have developed new priorities and are more likely to rebrand; worried withholders -they are not easily influenced and prefer their comfort zone so they could be aspiring to be loyal consumers-; and cautious questioners – those who keep their distance until they know more, are liberal and critical.
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This should consider brands
Without a doubt, as the process of the so-called ‘new normality’ continues, we will continue to see adjustments in consumer priorities and concerns, which will affect their consumption and purchasing habits.
For some analysts, uncertainty will be around for a long time, so it is key for brands to work on communication and marketing strategies that project trust, security and commitment to society.
In this regard, the Ketchum report shows how consumer preferences are changing in support of brands with these characteristics, something that has been warned by people in the industry such as the Burger King CMO, Fernando Machado or the study signed by Psyma, on the consumer who will define the “new normal”.
In this sense, it is necessary to look at how these factors influence. An example is found in the Brand Footprint 2020 prepared by Kantar, which points to the brands most chosen by the consumer in 2020, highlighting Coca-Cola, Colgate, Maggi Lay’s, Lifebuoy, Pepsi, Sunsilk, Dove, Indomine, and Nescafé like the Top 10.
But, perhaps more applicable is what the trust list of the BrandZ Top100 2020 shows, which highlights a list of the brands that these associations develop tend to outperform their competitors in the defense and growth of the value of their brand: Pampers , Meituan, China Mobile, Visa, Netflix, LIC, FedEx, Microsoft, BCA and UPS like the Top 10.
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