We have been dealing with the pandemic for seven months. New research numbers are starting to emerge. Key is the shift in the customer mindset. This impacts our society, our businesses, and our marketing.
One thing for sure…we aren’t past this. We’re intra-pandemic.
All the marketing guides prior to the pandemic are out the window…useless.
GlobalWebIndex specializes in consumer data for marketers. Recently they reported on the changes to the consumer mindset that all marketers need to be aware of.
Their report is based on a global study, interviewing 688,000 internet users aged 16-64. They share five key takeaways.
Personal data concerns are down
During the lockdown, or just staying home to reduce risks, people moved to online. Online ordering groceries, home supplies, virtual or phone shopping assistants. However, when you shop online…you pay online.
What changed is people are less concerned about online shopping risks. They are less concerned with personal privacy loss. And less concerned about businesses using their personal data to market to them.
It had to happen. You can’t get help if you don’t share anything. That would be like going to a doctor because you don’t feel well, but refusing to share your symptoms.
This is not to say they have abandoned their concerns…just suspended them. They are shopping online, however paying attention to how companies use their information.
In the new customer mindset, relevancy has changed
Things like exclusivity, status, and reputation have dropped in relevance as much as 25%.
Consumers are less likely to want to stand out. Instead, they are looking for solidarity, feeling a part of the group.
Their focus has shifted to values, purpose, and how brands contribute to the common good.
For those who sell exclusivity, the challenge will be to showcase practicality.
Life has slowed down
Staying home, being unemployed, or working from home have a different life pattern…and a different sleep pattern. People are sleeping in longer.
For our normally fast-paced lifestyle, this is profound. It’s the first time since the Industrial Revolution that we have been “unchained” from an alarm clock.
We are discovering more free time and a slower life pace.
People are streaming more and gaming. They are also balancing this with offline activities.
I live in a neighborhood conducive to walkers and from my office, I see my neighbors pass by. Over the past seven months, the number of regular walkers has tripled..
It’s not just seniors out for a daily walk. It’s moms and/or dads with their kids…bicycles, scooters, tricycles, wagons, and strollers. Don’t forget the dog.
People have adopted more pets. Another healing wellness boost and incentive to get out and exercise.
Businesses should look for opportunities to enhance/support a more relaxed lifestyle.
We also need to be aware of what they call “media fatigue.” Discover ways to help them look away from their screen.
Both McDonald’s and Heinz released branded jigsaw puzzles to capitalize on the new trend. They are using the need for offline entertainment as a marketing opportunity. They have released dozens of versions across 17 countries.
Financially, the customer mindset is more cautious
People across the globe are beginning to understand the impact the pandemic will have on their personal income long-term.
GlobalWebIndex shares “the number of consumers expecting a big/dramatic impact on their personal finances from COVID-19 has increased by 43% since our first wave of research.”
Discretionary spending will take the hardest hit. The report shares that consumers see themselves as less affluent. They are less willing to put wealth on display.
Just because they see a brand advertised consumers aren’t dashing out to buy it. Expect them to take more time to consider a non-essential item as we move forward.
Vendors of non-essentials will be looking for ways to market them as a necessary item rather than an extra.
More local focus
International travel has come to a near halt. My husband’s family lives in the UK. We have no idea when we may be able to visit them again.
I’ve heard similar thoughts from other Ex-pats. You are where you are.
Destination Analytics released statistics covering through October 16-18. The US is split on their thoughts about travel.
The number of COVID-19 cases is soaring, those ready to travel is dropping. 55.5% of the people say they are ready to travel. This is down from a 2020 high of 57.8% just a week before.
Locally, our tourism bureau shifted its marketing focus from national to regional. They promote visit local and local staycations.
Result: higher occupancy rates than anticipated. More people using local outdoor spaces.
People are concerned about where they live
With the pandemic cases on the rise, people are more concerned with their local environment.
They’re concerned about global issues. However, they are more concerned with how their country, their county, their town are handling things.
As we move forward expect to see more local and regional focus.
When international travel becomes an option, security and health issues may determine a destination over cultural attractions.
New customer mindset takeaway
As marketers, we can expect more shifts and changes. I work with clients to create the best possible user experience to keep them loyal, buying… and businesses making money..
Our buyers are there.
We need to position our offers as customer-focused and relevant.
For the complete article or others by GlobalWebIndex, visit https://www.globalwebindex.com/hubfs/Downloads/The_New_Consumer_Mindset.pdf