As the Pandemic Ends, a New Customer Emerges
3 Ways to Meet Their Expectations
As 2021 continues and the world returns to business as usual, a new customer has emerged. Research shows that consumer beliefs and values have been shaped not only by the past two years but also by the political and social climate. Below are the top 3 consumer trends that you should know about, along with some solutions to help your business rise to meet expectations.
1. Rituals Lost and Found
The pandemic and associated lockdowns and other safety measures disrupted rituals, upending the strong emotional ties associated with many of them, even the ones we once took for granted. In response, businesses have been identifying how they can build new ways (and messaging) to help people to cope and reconnect. The past year has been a period for reassessment and searching for new meaning.
Solution: Link Ritual to Brand Purpose - When the proper ritual is balanced with the right brand purpose, it enables customers to engage with what matters to them. The value and sanctity of home is here to stay, which means your business is more relevant than ever! Home improvement projects can help people feel more connected and also provide a way to express themselves through color and design.
2. Local Love
Post-pandemic, consumers will continue to opt for sustainable and locally sourced products. According to a National Retail Federation report, 49% of consumers specifically purchased goods that support small businesses during the pandemic. Additionally, a Nextdoor survey found that 72 % of its members believe they will frequent local businesses more often after the crisis ends.
Solution: Rise to Meet the Needs of Customers - As many community members continue to steer away from big-box stores, demonstrating solidarity with local business owners, location-based personalization and targeting will become essential for larger retailers looking to compete at the local level. Promote that you are a local, valuable part of the community!
Local marketing has arguably been more important in the last 12 months than ever before—and that, too, will continue. – Harvard Business Review
3. Sustainability at the Fore
During the pandemic, two major issues rivaled: social justice and sustainability/climate. The younger generation has grown up around the climate discussion, shaping the way they view the world and consumerism. According to Harvard Business Review, the issue of sustainability will be the #1 motivator of purchases in the next five years.
Solution: Link Sustainability to Brand – Being a local brand IS sustainable, so in addition to any other environmentally conscious things you may or may not be doing, this is a clear communication point. Not only does it promote local jobs and reduce travel times, but it also infuses money into the local economy at a much faster rate than a corporate retail store. When a local business flourishes, so does the community (and local economy)!
Research shows that while quality, convenience, and price still very much matter to consumer choice, factors like sustainability, trust, ethical sourcing, and social responsibility are increasingly important to how consumers select their products and services. (Harvard Business Review)
Stay tuned for a new blog on the subject of local sustainability, coming soon!