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Three Components Shaping New Client Behaviors

3 factors influencing new consumer behavior

When we're not sitting on Zoom calls, searching for supplies, or worrying about health or finances, our thoughts turn to life when the madness subsides. We are likely to experience significant changes in our relationship with others (no more handshakes?), How we work, how we play, and certainly how we consume.

The pandemic will change our world for years after the virus is gone, causing consumers to rethink their purchasing decisions (both large and small). Marketers need to respond to life in The New Normal.

Nobody has a crystal ball that tells us what the future will be like. However, we can make some educated guesses. While for many of us this is the greatest disaster we have ever experienced, the world has seen many others. And we know that the best predictor of future behavior is past behavior.

At least that is how we know that American cities that enforced social distancing during the 1918 pandemic influenza were more prominent afterwards than those that did not. And when we look back on the Great Recession in the recent past, it seems reasonable to predict that many consumers will switch to inexpensive brands for a period of years. You don't need a crystal ball to expect a lot of very public arguments about materialistic values ​​and priorities for some time.

But we can also look at some basic human motivations that are likely to influence preferences and behaviors in The New Normal. We know that deeply ingrained values ​​in any culture change over time and these, in turn, influence the products and services we seek – even if it is sometimes like turning a battleship.

Here are three very fundamental dimensions that I think companies need to take into account as they rebuild.

1. Satisfaction. When the day comes that we are released from our quarantine cages, we will experience what pent-up demand feels like very personal. Cabin fever only stokes the fire as millions of bored people yearn to have fun again.

But what will it look like for many of us who are financially hurt long after the all-clear? It's difficult to get into an orgy of consuming when you've lost a large chunk of your income. While reading recent predictions from so-called "futurists" it was interesting to see that some predict a tremendous waste of discretionary spending, while others speak in terrible terms of an enormous cut.

Who is right I believe both. During the recession of the past decade, we've seen a dramatic surge in guilt sales like premium ice cream. The key is to offer affordable indulgences that allow people to self-medicate without breaking the bank. For example, luxury marketers may not sell as many high-end items, but their customers will be looking for smaller purchases that satisfy their desire to keep acquiring designer names. Can't afford a bottle of Blue de Chanel perfume for $ 155? Try this $ 26 piece of Chanel bath soap instead.

Likely Success Stories in The New Normal:

· Cannabis / alcohol

· Meditation / mindfulness / wellness

· Games and esports, board games

· Garden supplies

· Home fitness / peloton

· Smaller packages

· Publish

· Online education

Stream video / 5G

Online cultural events (music, religion, art, travel, etc.)

· Virtual revisions

· Leisure styles

2. Agency. In uncertain times, we worry about losing control of our lives. Consumers value products and services that reassure them that they still have an agency – the ability to make our own decisions. This explains the "irrational" hoarding of toilet paper and other necessities that we have seen. "I don't know what's going to happen in the next few months, but at least I can build up my supplies."

The obsession with hygiene and building emergency supplies is one way of restoring the agency. Already now, almost 90% of US shoppers prefer to shop in contactless stores.

We can expect to focus more on the need to measure and maintain supplies to face the next crisis. Look for "inventory awareness" in the form of a greater interest in smart fridges that track when items are exhausted or dashboards that we can use to track our medical, social, and financial health.

Likely Success Stories in The New Normal:

· Telemedicine

· Disinfectants

Organizational products (containers, etc.)

· Contactless shopping

· Bulk purchase

· Drones and self-driving vehicles

· Contact tracking apps

Pre-packed snacks (no more shared bowls)

3. Stability. In chaotic times, we crave predictability. Unfortunately, this tends to open the door for authoritarian regimes to exercise more control over their citizens as privacy takes a back seat to public safety.

For consumers, the need to restore a semblance of safety is likely to mean a preference for lower risk branded options. Brand experiments take a back seat to proven solutions. Loyalty to established brands can regain some of the lost glamor (as long as those deals stay within the price line). Comfort foods dominate the sleeping place; Manufacturers of stalwarts such as Mac and Cheese, Slim Jims and Campbell & # 39; s Soup are already reporting higher sales. Fast fashion's focus on cheap items that we throw away after a few uses will lead to investment dressing decisions that encourage us to prioritize quality over quantity.

More importantly, brands that contribute to our social welfare can thrive. A recent survey found that the majority of consumers believe brands are stronger than governments at solving social problems. CSR (Corporate Social Responsibility) has already been a crucial component for many consumers (especially younger ones). In addition to concerns about environmental practices, people will now be paying more attention to how a company treats its employees – especially those who are at the forefront of dealing with the public. But one important caveat: if you speak, you'd better leave. Consumers have a very sensitive B.S. Detector and unfounded awesomeness will come back to bite you!

Likely Success Stories in The New Normal:

· Comfort foods

· Nostalgia speaks in advertising

· Brand communities / brand festivals that emphasize the collective identity

· CSR advocates who prioritize the wellbeing of workers

Nobody has a crystal ball to predict the future. But at least if we examine the pandemic in the light of basic consumer drives, maybe we can adjust to The New Normal by stepping on the GAS: satisfaction, agency, and stability.

Contribution to Branding Strategy Insider by: Michael Solomon, author of "Marketers, Tear Down These Walls!".

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