Pearl’s Takeaways - New Era of Consumerism Euromonitor, in a recent seminar, highlighted a number of interesting emerging areas of growth, and changing demographics that represent opportunities for organizations. Below you will find a summary of the opportunity areas and examples of products/services that are targeting these areas. Seniors or Ageing Population Many countries are facing an agein [...]
Building a Successful Brand Strategy by Understanding Product Claims Consumers attitudes and behaviours are changing rapidly, much due to the COVID-19 pandemic. More consumers are now shopping online, and with much more frequency, than prior to the pandemic. And they are using online data to access product benefits and attributes to make their brand choice. For brands to succeed, now more than [...]
McKinsey & Company predicted the “next normal” of organizations that will follow the COVID-19 crisis. Below is a summary of predictions that range from minor to drastic degrees of change: Implications: Determine the appropriate degree of change required by your organization to successfully achieve its business challenge. Align your organization configuration to enable the idea [...]
The Next Normal of Consumer Behaviour McKinsey & Company predicted the “next normal” of consumer behaviours that will follow the COVID-19 crisis. We’ve summarized their top 10 predictions below: 1. Shifts in loyalty: baskets will evolve as consumers adapt to changes in availability, explore new health attributes, and try/retry brands. Implications: Promote health & wellness brands. Intr [...]
As Canadians have met their survival needs and stocked up on essentials, they are now adapting to life at home – working, school, cooking, exercise and entertainment. Canadians are developing new rituals, habits and rewiring their behaviours, some of which will last beyond the COVID-19 pandemic. Similarly, brands also need to adapt to survive. For brands to gain or retain an important role in t [...]
“Companies that ‘think’ they are doing well are more likely to be disrupted” We attended Trend Hunter’s Innovating Through Chaos webinar and summarized their 6 patterns of opportunity, which can be used to adapt and innovate in this time of chaos. The following examples illustrate how businesses have innovated through the current COVID-19 crisis. Acceleration – taking a little idea or experienc [...]
We attended Dynata’s Global Trend Webinar on April 2, 2020 to hear the latest findings in consumer attitudes and behaviour in response to the COVID-19 pandemic. Below are our key takeaways and implications: The Economy Consumer concerns for the economy are increasing, especially at the global level. The report shows they are worried twice as much for the global and domestic economy versus perso [...]
Wave 1: Hoarding. We are in the middle of Wave 1, (and perhaps starting Wave 2) which involves the hoarding of products and the abundance of needs from consumers driven by both fear and the reality of the crisis Wave 2: The “Almost” Normal. As the hoarding begins to abate (enough of the toilet paper stocking up, people!), grocery retail is beginning to emerge to a steady state wit [...]
Follow Us