The Home Economy In The Foreground
Consumer Behaviors: Our natural thinking is that, as soon as they can, people will return to the street and old habits of consumption. This may be true in some respects, but only partially.
At the same time that they will leave the house, the house will not leave people anytime soon. In the new normal, the new consumer is more concerned about the home and his family’s health. Therefore, your behavior as a consumer will be to satisfy the time spent on activities at home.
The first reason for this is the concern about the return of some activities, especially those that involve contact and shared environments. We are talking about restaurants, gyms, beauty salons, public transport, large events, and travel in general. Another point is the rediscovery of home. For example, today people clean their house more often and with products they think are better.
Google, for example, shows an increase in searches for recipes on YouTube, which indicates that the habit of cooking, for example, may remain. Speaking of entertainment, we know that e-commerce platforms recorded their best numbers during the pandemic.
What can we say about the investment in equipment to exercise at home, renovations, and even, for the most daring, haircuts? In the world of work, many companies are already preparing to maintain the home office, aware that the benefits, especially after the pandemic, may be greater for employees.
Online E Delivery
At first, things like online shopping for essentials like toiletries and pantry items increased significantly, but they still felt tentative. In the marketplace, this appeared as an e-commerce first-buy boom.
Now, many consumers seem to have changed their minds. In-home shopping behavior has been reinforced, and interest in online shopping continues to grow, especially for essential items. According to IDC, 52% of respondents intend to shop more online, and 52% said they would be online more hours a day, even after the pandemic. This indicates that digital sales should remain at levels higher than pre-Covid.
Satisfaction, which had already been growing, was accelerated. This means most people buy products without immediate need but for reservation and pantry formation. Allied to online shopping is the maintenance of delivery, which will also be reinforced with the search for local suppliers.
Lower Brand Loyalty
We are talking about a change in behavior forced by the pandemic and the growing demand for basic items in digital commerce – where the universe of possibilities expands. We are in the world of Chris Anderson’s long tail, with no limits on scope and availability, not within the four walls of physical commerce. That’s one point. But there is another.
We are also experiencing growing economic pressure, with loss and insecurity of income and employment, the closing of stores, and hoarding. Such changes were reflected in consumer behavior, which is no longer so loyal to brands, either because of the opportunity to try new options or the possibility of saving money. This need for exploration and experimentation, coupled with greater caution in purchases, will also last, given the low optimism about the recovery.
Increase Essential Expenses And Reduce Discretionary Expenses
As a result of the previous items, namely, domestic economy, search for essential items on digital, less loyalty to brands, and financial insecurity or decline, another consumer behavior that will extend beyond the crisis is the concern with the way they spend and invest your money.
This is reflected in a redefinition of purchase needs and priorities whose effects have increased essential expenses and reduced non-essential costs. This has been observed even among consumers with greater financial security, albeit on a smaller scale.
We see a greater search for better prices and mass products in consumer behavior. But, without a doubt, allied to a greater ability to select products before making a purchase decision.
Concern And Transparency In Hygiene
Consumer behavior in the new normal also involves concern about hygiene. After all, who doesn’t feel distressed when typing the card’s password into a machine, for example, or entering an establishment full of people?
Consumers are attentive to the adoption by brands of health safety protocols and the clarity of communication of their actions in this regard. Among the measures considered most important by consumers are:
- Masks, face shield, and alcohol;
- Limit of people allowed;
- Masks and face shields for sellers;
- Temperature measurement at the inlet.
In addition to PPE, the use of retail technologies allows the provision of end-to-end contactless services, in various formats, from purchase to payment.