American Marketer
 Research, insights and analysis for CMOs, brands and retailers
  1. AM Test Article
  2. Green is the new black: Backing the Fashion Pact
  3. Seabourn extends UNESCO alliance in preservation push
  4. Owning the customer experience in an Amazon-disrupted market
  5. Year of the Rooster luxury items: Hit or miss with Chinese consumers?
  6. Luxury brands need to change their marketing strategy for India
  7. Natalie Portman, Rihanna join Dior in declaring what they would do for love
  8. Announcing Luxury FirstLook 2018: Exclusivity Redefined, New York, Jan. 17
  9. In today's crowded fashion world, quality beats quantity: Jason Wu
  10. Brands celebrate International Women's Day with events and promotions
Comment

Research

6 ways how consumer goods and services will transform post-pandemic

June 4, 2020

Expect more purpose-driven businesses as the pandemic changes consumer behavior worldwide. Image credit: Euromonitor Expect more purpose-driven businesses as the pandemic changes consumer behavior worldwide. Image credit: Euromonitor

 

By Luxury Daily News Service

Six themes will reshape consumer goods and services due to the COVID-19 coronavirus pandemic as the worldwide economy enters its worst recession since the Great Depression.

In a newly released report, market researcher Euromonitor focuses on cross-industry themes to help marketers adapt to a new business landscape where per-capita global consumer expenditure is expected to drop by nearly 5 percent.

Per the Euromonitor report, the six themes across sectors such as health, beauty, fashion, beverages, food, home, retail, travel and restaurants are:

From sustainability to purpose: Initiatives move beyond ethical and eco-conscious to a holistic approach that creates social, environmental and economic benefits.

Hometainment and the new experiential consumer: Out-of-home activities are brought online, and these virtual experiences must provide as much value as in-person occasions.

Where and how consumers shop: Rapid shift to ecommerce, click-and-collect options and the direct-to-consumer channel accelerate digital disruption.

Wellness redefined: Consumers focus on achieving optimal health. Happiness becomes a tangible commercial prospect.

Innovation and the new “core”: Efficiency and value drive product development. Brands need to recognize and align with fundamental consumer needs.

The “new normal”: What is here to stay?: Online shopping, remote living, decreased discretionary spending and self-care will shape consumer behavior.

Impact of coronavirus across economies, businesses and consumers

 
LATEST HEADLINES
MOST POPULAR
  1. AM Test Article
  2. Green is the new black: Backing the Fashion Pact
  3. Seabourn extends UNESCO alliance in preservation push
  4. Owning the customer experience in an Amazon-disrupted market
  5. Year of the Rooster luxury items: Hit or miss with Chinese consumers?
  6. Luxury brands need to change their marketing strategy for India
  7. Natalie Portman, Rihanna join Dior in declaring what they would do for love
  8. Announcing Luxury FirstLook 2018: Exclusivity Redefined, New York, Jan. 17
  9. In today's crowded fashion world, quality beats quantity: Jason Wu
  10. Brands celebrate International Women's Day with events and promotions


MORE IN Research
68pc of small business owners to raise marketing spend this year
4 ways predictive messaging can elevate your campaign
3 ways AI helps advertisers measure campaigns better
Comfort is No. 1 aspirational luxury as younger consumers stress
Debunking 6 common market research myths
Low consumer trust today is threat to repeat-purchase behavior: Forrester



RECENT ARTICLES
Traditional agency model outmoded – and what should replace it
New challenge for brands: Cost of running AI at scale
68pc of small business owners to raise marketing spend this year

5 common CRM mistakes to avoid making at all costs
Free-trade deals with US, EU turn India into superhighway for global luxury
Make your content AI-citable: New rules of structure, social and signals