How Coronavirus Has Shifted Consumer Preferences
The COVID-19 pandemic clearly drove some new consumer behaviors: 28% of online grocery shoppers surveyed in March, for example, had made their first online grocery order ever that month because of coronavirus concerns, according to CPG marketing agency Acosta.
The unknown is whether those behaviors will stick. Human behavior is incredibly elastic after all. However, some consumer behaviors have already permanently shifted because of the impact of health and safety concerns, stay-at-home orders, the shutdown of non-essential businesses, remote working, travel restrictions, social distancing, supply chain disruptions, and other aspects of COVID-19 pandemic. And the longer these conditions last, the sticker all of these consumer changes will become.
Consultants and analysts at Oracle CX Marketing Consulting and Oracle Data Cloud see significant shifts in consumer preferences around:
- Consumer products brands
- Retail store brands
- Shopping channels
- Work environments
For all the details on how each of those have been affected…