The quarantine decreed, in face of the coronavirus crisis, influences current and future consumption habits, as it does in terms of their relationship with brands. Because of this, we decided to explore through a survey directed to Kuvut’s consumer panel, how they are living in confinement and how it affects the action of purchase.
We discovered, among other things, that people are eager to indulge themselves physically and mentally. Although, at the same time, you have to take into consideration they look to save and that they are more socially aware. All of these are elements, influence what will be bought and how that purchase will be made.
Family and sharing, optimism and happiness, sustainability… The reality is that the future of consumption is changing and from Kuvut we bring you a preview of the trends that are starting to show. We invite you to see the results of our market study and learn if you are prepared for change!
Consumer Panel results
We presented several questions and found the results detailed below:
- To cope with the confinement, 35% of the consulted consumers indicated that they are buying certain products as an indulgence or evasion.
- 60% of the people that answered our questions, miss going shopping or to stores and, even 59% of them, miss dressing up to go out.
- 56% of the consumer panel said they miss having control over their lives. At the same time, 49% indicated they miss having space for themselves.
- 54% of the survey participants miss the haste and that hours go by fast. So, with certainty, this is a good moment for brands to offer entertainment, fun; self-esteem routines, an escape route through branded content.
- We also presented questions looking towards the future, taking into consideration what consumers answered regarding precaution when consuming. With that in mind, 70% indicated that they will do their shopping paying attention to sales and special offers. This is related to the 62% of the people who will try to save more money just in case.
- In the market study it seems relevant the entrenchment of an acquired new habit: buying only what you really need. This happens in 66% of the cases.
- Another point that has looked more than interesting to us, is that the exceptional situation of the quarantine has increased social and environmental awareness. Because of this, 42% have said they will shop at small local businesses, convenience stores and only 25% will shop at large places.
- 51% of the surveyed answered that they will prioritize buying products that are good for the environment and sustainable.
And that’s not all. We asked questions referring to the present, to what we obtained the following results:
- With booming values such as a sense of community and group harmony, 62% of the participants said they will share more with friends and family.
- 43% recognize that they will invite more people for lunch or dinner to their houses. And, of course, they will cook more at home (42%)
Regarding this last point and, according to our consideration, this is an indicative that there will be a consumption increase of cooking products, but the sales of products you take to someone’s house when you are invited will also increase!
What do consumers expect from brands?
Regarding the consumers’ perception of brands at these exceptional times, we found the following: 41% think they have acted correctly, at least until the moment this survey took place. 34% recognize that they may stop buying brands that have disappointed them during this crisis.
Communication during times of crisis is key and because of this, we have inquired messages that, for the consumers, have the most potential:
- Life is filled with wonderful things and we have to enjoy it to the fullest (24%)
- At bad times, the most important thing is to be together (23%)
- In life, you have to be optimistic and share happiness with the ones you love the most (18%)
Looking at these messages, we asked ourselves, what brands are positioning themselves in Spain with this kind of communication, right now? At exploring them qualitatively, we have noticed that Coca Cola took advantage of their happiness, which almost seems obvious, right? But there are other brands that are making profit, especially those more related to family such as Casa Tarradellas and, also those related to being close to yours, such as Movistar.
Our consideration about the results of the consumer panel
We consider that, facing these consumer changes, it will be necessary to think of new special offers and distribution proposals according to the new habits.
It is clear that consumption will continue after the confinement, there are no worries about that. But it is a reality that there are changes in the how.
This doesn’t end here! As a new online panel, from Kuvut we have thought of gathering more information in the next few weeks. We want to continue updating the trend of the different future intents. This, to see how the brands will be affected by the “new reality”, that seems to have come to stay… for a long time.
If you want to know more about our market studies, or develop your own, get in touch with us!