Innovation

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 [...]

With the continuing dynamic situation with COVID- 19 food and beverage buying behaviours are changing. See our Top 5 Insights here. 1.There is a decrease in brand loyalty as consumers try new brands due to the low stock environment.     2.Centre store sales are booming with quarantine orders in place, consumers move to shelf stable categories and brands which they continue to stock-up [...]