Without the long-awaited “post-pandemic era” being seen in the short term, the reality is that after the first months of the pandemic, consumers saw their consumption habits radically modified.
Perhaps the most important change was reflected in the way people access products and services. Without a doubt, e-commerce was the winner.
During 2019, estimates provided by Worldpay indicated that total sales in Mexico generated thanks to electronic commerce platforms reach 22 billion dollars.
At that time, this number, by 2023, was projected to grow to $ 34 billion. These figures have undoubtedly grown significantly thanks to the pandemic.
The reasons are none other than the confinement measures applied such as the intention of users to avoid crowds and physical contact in a firm intention to preserve their health.
According to the Mexican Association for Online Sales (AMVO), 55 percent of people purchase products and services online to avoid leaving home. The main reason with 48 percent of mentions is to avoid crowds in physical stores.
Thus, the time allocated to these platforms was increased to levels never seen before. At least so the study’s conclusions dictate Oracle Retail Consumer Research 2020 which indicates that during the pandemic, Mexicans spent three to five hours a week on the internet to make purchases through available e-commerce channels.
“Social isolation and security measures have shaped the behavior of the consumers all over the world, making people look for other ways to consume, research and buy ”, reads the aforementioned analysis.
Although the way in which we will consume is clear, the reality is that what is really interesting is to recognize those proposals that will have special demand.
And it is that although it could be thought that there is clarity in this regard, the truth is that the trends derived from the pandemic will give special preference to certain products and services capable of fulfilling certain characteristics that go beyond fulfilling basic functions.
After a thorough analysis, Euromonitor has released 10 trends that will define consumer behavior and influence business strategies this year:
Rebuilding for the better
The consumer will expect proposals that have a purpose in the background, which seeks to benefit both people, the planet and the profits of the company itself. In this way, 70 percent of professionals expect consumers to care even more about sustainability issues now than before the pandemic broke out.
Longing for convenience
The consumer will benefit those proposals that provide facilities for the impulses and spontaneous and simple occasions that characterized pre-pandemic life. In other words, they will look for the known and, by definition, intuitive to meet their needs.
For example, 68 percent of consumers over 60 prefer to speak to human representatives.
Therefore, “retailers are seeking to capture customers who long for coexistence and want to find in the digital channel, the services lost in the physical store,” says the study.
Out of home
Although for now many of the activities are still carried out inside the homes, with the promises of vaccines it is expected that in the following months mobility will begin to recover. In this sense, reconnecting with nature and the environment will be a constant requirement. Those proposals that allow you to enjoy the benefits “outside the home” safely, will be one of the most sought after after months of confinement.
For the consumer, one of the greatest lessons received in recent months was the benefits that can be obtained by combining the benefits of actions in physical and digital points. These promote ease, comfort, and safety with every purchase. The norm, therefore, will be to use digital tools to stay connected at home and facilitate safer procedures in physical stores.
Time flexibility will play a vital role. The consumer seeks solutions that allow them to maximize their time, with which products and services that they can access from or near their homes would be privileged.
And, as the study dictates, 51 percent indicate that the “Time to myself” it was one of their main life priorities during 2020, an indicator that barely reached 20 percent in 2016.
Following a wave of misinformation, a new crisis of confidence is building. The consumer now looks much more skeptical to the government and politicians, a situation that will be reflected in consumption, resulting in “revenge buyers.”
“More accurate marketing on social media and entertainment platforms that can give consumers a voice and pressure social giants to take on disinformation should be the goal of companies that want to serve Restless and Rebellious consumers. ”Reads the report.
Obsessed with safety
Now, the consumer is more aware of his health, as the demand for products and services that promote hygiene and provide better guarantees of immunity will be constant. Thus, those proposals that put contactless transactions at the center will especially benefit. In fact, 44 percent of consumers would feel comfortable receiving their product via a drone or robot, according to the study.
The previous point will not only be reflected in regards to physical health; better conditions in the mental field will also be a point to consider. And it is that it is that depression and mental health had a moderate or severe impact on 73 percent of the daily lives of global consumers last year.
It’s time to save
Although it is not new, the consumer of the following months will be cautious when spending and will buy those services that offer a greater addition and that are affordable. The underlying idea is to generate savings to avoid complex times.
With most of the professional or work activities developing at home, the consumer will look for products and services that allow them to have a much more balanced life.
“Companies must support the work-life balance and the productivity and communication needs. Understanding the benefits and challenges of working remotely allows companies to bring the best of the office to the home ”, they say from Euromonitor.
For now, 52 percent of consumers have a boundary between work or school, as the case may be, and personal life.