{"id":114296,"date":"2021-06-23T13:42:34","date_gmt":"2021-06-23T08:12:34","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=114296"},"modified":"2021-06-23T13:42:34","modified_gmt":"2021-06-23T08:12:34","slug":"covid-2-0-has-sparked-a-complex-interplay-of-consumption-trends","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/covid-2-0-has-sparked-a-complex-interplay-of-consumption-trends\/","title":{"rendered":"Covid 2.0 has sparked a complex interplay of consumption trends"},"content":{"rendered":"\n

Context:<\/span><\/b>\u00a0\u00a0How the businesses should adjust themselves to the changing reality posed by Covid19.<\/span>\u00a0<\/span><\/p>\n

Changing Consumer\u00a0Behaviour<\/span><\/b>\u00a0<\/span><\/h5>\n

Covid 2.0 has highlighted three important trends with respect to Consumer behavior and market\u00a0strategies.<\/span>\u00a0<\/span><\/p>\n

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  1. Rising duality in consumption trends<\/span><\/b>.<\/span>\u00a0<\/span>\n
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    1. On one hand, consumers are moving away from the brand consciousness and are increasingly preferring for indigenous brands with organic ingredients.\u00a0<\/span>\u00a0<\/span><\/li>\n
    2. While on the other hand, still some consumers are sticking to their brand loyalty owing to convenience or usage experience of a particular brand offering.<\/span>\u00a0<\/span><\/li>\n
    3. For instance, as per an Accenture study (2021), 58% of consumers ordering fast-moving consumer goods (FMCGs) are increasing their purchase of premium brands.<\/span>\u00a0<\/span><\/li>\n<\/ol>\n<\/li>\n
    4. The rise in demand for nutraceuticals<\/span><\/b>.\u00a0<\/span>\u00a0<\/span>\n
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      1. There is an increased focus on natural products for immunity.<\/span>\u00a0<\/span><\/li>\n
      2. This is because, Consumers today are overwhelmed by fears and anxieties caused by lifestyle diseases.<\/span>\u00a0<\/span><\/li>\n
      3. Hence, the ancient wisdom of using herbs and spices has seen increasing acceptance.<\/span>\u00a0<\/span><\/li>\n<\/ol>\n<\/li>\n
      4. Businesses are trying to\u00a0retain\u00a0customers in a disorganized society through innovative\u00a0ways.<\/span><\/b>\u00a0<\/span>\n
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        1. The celebratory economy model is dead and businesses are employing various innovative methods to\u00a0retain\u00a0customers.\u00a0<\/span>\u00a0<\/span><\/li>\n
        2. For instance, insurgent brands are trying to create playful mascots and are working around\u00a0colours\u00a0that offer warmth and achieve a playful brand positioning.\u00a0<\/span>\u00a0<\/span><\/li>\n
        3. Because, consumers who are fighting emotions of stress and anxiety can find comfort in these offerings<\/span>\u00a0<\/span><\/li>\n<\/ol>\n<\/li>\n<\/ol>\n
          \u00a0How\u00a0is the Market\u00a0adapting to the following changes?<\/span><\/b>\u00a0<\/span><\/h5>\n