New Delhi, August 10
A survey has mentioned that the COVID-19 pandemic is more likely to alter the buyer behaviour completely and trigger lasting structural adjustments to the buyer items and retail industries.
The demand for native items and types is rising as customers are hesitant to step out of their security zones to renew earlier consumption patterns, in accordance with Accenture COVID-19 Consumer Pulse Research report.
The survey polled 2,500 customers in India amongst 45,000 respondents globally, between March and June, it mentioned.
“The India leg of the survey found that 90 per cent of consumers are making lasting changes to how they live, work and shop, and there is no going back to the pre-pandemic world for consumer brands,” the report mentioned.
The survey discovered that the pandemic is inflicting extra individuals to buy groceries on-line.
The demand for native merchandise, digital commerce and omnichannel providers such a house supply, chat options and digital consultations is surging, and is more likely to endure past this disaster, it mentioned.
Consumers are actually targeted on their most simple wants whereas reducing again on nonessentials, the report mentioned.
“They are more mindful of what they are buying, striving to limit food waste, shopping more cost consciously and are making healthier and environmentally sustainable choices,” it mentioned.
As many as 85 per cent of the customers in India mentioned that they’re buying extra health-consciously and are focusing extra on limiting meals waste.
While, 75 per cent of customers mentioned they’re being extra cost-conscious when looking for merchandise and 71 per cent really feel that high quality, security and belief are essentially the most thought-about model attributes in buy choices.
A majority of respondents are actually specializing in their private well being, it mentioned.
“Staying-at-home and working from home are becoming the norm. The ways in which people spend their leisure time are changing because of the outbreak and related social distancing measures, and again, these habits are likely to continue,” it mentioned.
Entertainment, studying and DIY (do it your self) have additionally seen an increase—this development is mirrored within the kinds of apps that customers are downloading and the gadgets they’re buying, associated to leisure, information, healthcare and schooling, the survey mentioned.
Anurag Gupta, Managing Director and Lead—Strategy & Consulting, Accenture in India, mentioned: “The pandemic has taken a toll on brand loyalty and as consumers make more socially and environmentally sustainable and healthy choices, consumer goods companies must tailor their offerings accordingly and refresh their brand promise to meet these new requirements.”
Brands can even must discover methods to rebuild client confidence frayed by the pandemic—proof of fine hygiene and security is turning into a key a part of manufacturers ‘ability to retain shoppers’ belief.
“Brands also need to look at ways to tap into the opportunities resulting from the demand for local and the emergence of the home as the new hub,” he mentioned. PTI