Study: Consumers Have Changed Their Buying Habits Forever During Covid-19.

Study: Consumers Have Changed Their Buying Habits Forever During Covid-19.

Source: Media Post

Consumers have changed their buying habits forever in response to COVID-19, according to the third annual Selligent Global Connected Consumer Index. 

Of the 5,000 individuals polled worldwide, 29% expect to shop more online than in person in the future. Another 35% will stick with both, and 36% give a flat-out no to the question about moving online. 

In another finding, 75% say their jobs and income have been harmed by COVID-19. Job losses have affected 79% of women compared to 71% of men. But 82% believe they will be employed again within six months to a year.  

Meanwhile, 58% feel remote work will be in their future. 

But while 56% plan to make new purchases to support this new lifestyle, they are cautious about non-essential spending, the report says. 

They also are nervous about their privacy — 64% say it is more important than the online experience. And that figure dropped ten points from the 2019 study

During this period, 55% unsubscribed from brand emails because they were getting too many. In addition, 20% opted out because it was too long since their last interaction with the brand, 13% because they never signed up and 10% out of loyalty to other brands.  

Of the consumers polled, 32% open from 1-25% of emails they receive. Another 26% open 25-50%, and 19% of respondents open 50-75%. Only 10% open 75-99% and a lowly 6% open everything.  

However, 76% welcome real-time mail or app updates on delays or change in shipping. 

Consumers in the following countries prefer email for purchase updates:  

  • North America — 57% 
  • Belgium — 72%
  • France — 56%
  • Germany — 51%
  • Italy — 56%
  • Netherlands — 65%
  • Spain — 53%
  • UK — 64% 

Among the generations, 69% of boomers prefer email for purchase updates, versus 64% of Gen Xers, 57% of millennial an 41% of Gen Z. 

In contrast, only 18% of boomers want mobile, compared to 29% of Gen Xers, 36% of the millennial cohort and 48% of Gen Z. 

In addition, the following percentages say email is their preferred way to contact customer service: 

  • North America — 28% 
  • Belgium — 50% 
  • France — 34% 
  • Germany — 36% 
  • Italy — 33% 
  • Netherlands — 36%
  • Spain — 21%
  • UK — 37%

Finally, 52% of consumers are spending most on digital and non-digital entertainment such as alcohol to fight boredom. 

In fact, one in five millennials is spending most of their non-discretionary funds on booze. Regionally, 27% of Americans prioritize alcohol, compared to 14% in Europe. 

Tips To Re-Focus Your Digital Efforts During This Challenging Time

Tips To Re-Focus Your Digital Efforts During This Challenging Time

When international lockdowns and restrictions interrupted economic activity around the planet, it did not take very long to observe the colossal impact on both consumer behaviour and brands.

For all, it has been a case of adapt or die, with recent statistics showing that over half of SMBs have pivoted their business model to endure COVID-19 conditions. As a result, there’s been a substantial migration of operational and brand action into the digital area, as typical brick-and-mortar businesses engage with clients in new ways online.

Where should businesses making a pandemic-inspired pivot prioritize? Here’s where to begin:

1. A website centered around your customers. Data demonstrates that 66 percent of companies who were not already online are in the process of making a site for a consequence of the coronavirus outbreak. Another 27 percent are refreshing their current internet presence.

However, for many businesses, it’s not as simple as simply replicating an offline experience in an online format. Many brands will have dropped whole earnings streams from the shut down, therefore when going on line, (figuratively) setting up shop is only the first hurdle. Business owners may need to assess what fresh, online services or products they could provide, not just to offer additional revenue streams, but also ensuring they keep customers in the heart of the altered experience.

Any pivot — electronic or otherwise — needs to be suspended in a brand’s values and mission. If what you’re doing remains true to these core principles, you’re likely to be serving your clients, whether that’s through extra services, new e commerce choices, or more flexible terms.

2. Branded content that actually adds value. The web is one of the only sources of diversion, connection and inspiration right now, so it makes sense that 41% of manufacturers are exploring new strategies to engage with clients online throughout the pandemic.

Creating content that’s useful, enlightening and takes the present landscape into account is valuable. But content can also be enjoyable — and diversion is a valid commodity at the moment.

For instance, IKEA’s guide about the best way to create a fort along with your kids was an effective way to connect with customers and communicate empathy for households stuck inside at home.

3. Channels for real brand connection. Given the astronomical increase of social media use in the last few months, (per a study from Flixed), it is obvious individuals are hungry for new ways to associate, and 39% of business owners have begun or are planning to grow their brand’s social media outcome.

Investing in social assets is not just about visual branding — it’s also a effective avenue for customer service and commerce. The launching of new instruments like Facebook Shops has the potential to change how that you’re selling, so having new assets that may be reworked and upgraded quickly across channels is valuable.

That doesn’t mean you’ve got to be present on each single social channel. Instead, make an authentic connection with your customers where they are spending their time, whether that’s Instagram, LinkedIn or TikTok. Most of all, make sure that you’re listening: This will ensure you can continue to succeed and evolve over the next few months in a manner that keeps your customers at the heart of your strategy.