The disruption to life from COVID-19 has divided US consumers into two distinct groups with contrasting behaviors.
The largest group, classified as Most Anxious, has been affected by both health and financial concerns. They are likely to retain behaviors they adopted during the pandemic. Conversely, Least Disrupted consumers are likely to largely return to pre-pandemic purchase patterns.
Winning consumer products companies will learn the unique differences between these consumer groups and earn their business.
LARGEST GROUP IS MOST ANXIOUS CONSUMERS
- For approximately 1 in 2 consumers, habits are most likely to be changing permanently across the board
- They are looking for trusted brands and healthy and environment-friendly products. They are also changing their channel preferences
- But financial constraints mean they will be on the lookout for value
- The challenge is to develop product offerings that meet consumers' low price expectations and provide safe access in the right channels
SECOND LARGEST GROUP IS LEAST DISRUPTED CONSUMERS
- 1/3 of these still say their habits have been permanently altered
- Less likely to emerge with increased interest in environmentally friendly products or greater trust in brands
- More consistently interested in increasing online vs. in-store shopping
- And have greater financial wherewithal to resume spending
- The challenge will be to take advantage of this group’s pent-up demand while accelerating efforts to enhance digital offerings