A global perspective is needed to understand the impact of the COVID-19 pandemic and to leverage the opportunities it brings to food retail. BrandLoyalty and IceMobile activated their unique global network in food retail to study consumer behavioral changes resulting from COVID-19. In contrast to most studies around COVID-19, this study emphasizes the qualitative insights and highlights the 'why' behind consumers' actions. This approach gives a peek into the 'new normal' of food retail and shows which consumer changes are temporary or permanent. Read further to discover the 5 crucial themes to stay relevant after COVID-19 and to request the full report.
After a crisis situation or other big life events, people re-evaluate all levels of Maslow's pyramid to make sure that their lifestyle and (purchase) behavior still fulfill their needs in their new everyday context. Besides the direct effect of COVID-19 on the 'new normal', there are indirect effects and life events such as divorces, a baby boom, unemployment, and job changes. Also, social rules and our perception of value have changed.
Since the impact of the crisis is so immense it will take a while before consumers will go up to the higher levels of the pyramid again. Retailers must consider how their offers and services comply with consumers' new normal of the 3 lowest levels of the pyramid. How can food retailers best respond now?
A healthy lifestyle used to be part of the higher levels of Maslow's hierarchy, like status and self-actualization. It was a lifestyle that needed to be 'seen' externally and often shared on social media. However, since COVID-19, health has acquired a new definition in developed countries. Instead of health as part of a chosen lifestyle, often aiming for status, it turned into a functional decision. Eat healthily to stay healthy. High quality of sleep to maintain a high-quality life. But how can food retailers explain and assist consumers with making truly healthy choices - beyond the obvious - and knowing what good health is about? And what does this mean for private label brands?
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To learn more about the 5 themes retailers must consider to stay relevant after COVID-19, please reach out to your BrandLoyalty contact person or send an e-mail via the button below and receive the full report.Contact us now