INTO 2021 WEB VERSION: Click Here
A year in review A
The ever-changing 2020 consumer, and planning for 2021 By Paul Twite, Managing Director EMEA, Toluna
As we close the year and enter a period of new restrictions and uncertainty, marketers must understand how best to consider what we’ve seen in 2020 — and how it will impact the attitudes, behaviours, and needs of the 2021 consumer.
t Toluna/Harris Interactive and KuRunData, we’ve run
a Consumer Barometer study every two to three weeks since March 2020 to better understand consumer changes as they unfolded. And we’ve learned that 2020 consumers have been:
• Resilient • Focused on saving money
• Cautious about the ongoing pandemic
2020 was a year unlike any other. But as we move on to 2021, it’s clear that the consumer has forever changed. This makes it more important than ever to gather real-time insights — over time — as the market continues to evolve.
COVID-19, economic concerns, and social issues have rapidly impacted the attitudes and behaviours of the 2020 consumer.
In 2021, we can expect to see many brands invest in improving their image and parent company brands. Why? Because…
• Consumers feel many brands were slow to react to COVID-19 impacts, and value brand trust more than ever.
24
• More than half of people report they are more likely to buy from brands that show consumer support, and value inclusion and diversity.
• It’s not enough to simply show support. Consumers must specifically understand and believe in a brand’s efforts before buying in.
Trend: Brand switching and “trading down” are common. Brands have catching up to do to keep consumers loyal and keep them from “trading down” in light of financial concerns.
In terms of consumer loyalty, brand switching has increased. According to our Global Barometer study, 59 per cent of consumers report that they’re more open to trying a new brand than they were before COVID-19.
Consumers have or expect to trade down, and 59 per cent report purchasing lower cost or private label brands to save money given current financial concerns.
Key takeaways: Brands can prevent switching by considering their approach to brand advertising, and
Direct Commerce |
homeofdirectcommerce.com
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70
