The Greatest Consumer Shift In 2021 And What It Means For The Future

Описание: Noticed the great consumer shift yet?
I'll give you a moment to just think of how things were in 2019 and how they are now.

Yes, things have indeed changed that much.
Let me take you through 6 changes in the consumer segment that are definitely here to stay and their implications going forward.



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📌00:00 The Greatest Consumer Shift in 2021 and What It Means for the Future📌

01:14 1: Online Shopping:
Social distancing, lockdowns, and curfews served to ensure one thing- you do not get to go outside.
For this reason, just like many other consumers across the world, you had to contend with shopping online, whether for essentials or non-essentials.


02:16 2: Brand Loyalty Is in Danger:
Have you tried out a new product brand during the COVID-19 pandemic? Would you recommend someone to consider a different brand?
It's evident that the virus has put customer loyalties to the test. As much as 75% of American consumers have tried a new shopping behavior, thanks to tighter finances, business closures, and shifting priorities.


02:49 3: Home Productivity:
The sudden closure of workplaces in 2020 ushered in a new era of remote work for millions of employed US citizens. It may portend a remarkable shift in how a large segment of the workforce operates in the future. After all, some companies are already planning to shift to flexible workspaces after positive experiences with remote work during the pandemic.


03:28 4: A Decline in Discretionary Spending in Favor of Essentials:
The COVID-19 crisis has brought on tougher economic times. In effect, people have had to change how much they spend and what they spend it on. In general, most households have cut back on expenses significantly and are now spending their bucks more consciously.


04:10 5: Consumers Want Their Money’s Worth:
As the pandemic continues to ravage the economy globally, most people are feeling the heat. Now, more consumers are concerned about getting value when buying essential products.


6: A Growth in the Homebody Economy:
The homebody economy, which is a term that was coined back in 2018 to describe the booming market that millennials had created, has seen quite a boost since the pandemic started. That’s because staying in quarantine has essentially changed what people do with their time.


What Does it Mean for the Future?:

As governments and the medical sector do their best to abate the pandemic that has affected the world for nearly two years now, the worst does seem to be behind us. Businesses are definitely reopening, and economies are slowly picking up.

But there’s still a need to keep following safety measures to control the spread of the virus. So, people are reluctant to go back to their normal lives. The thought of sharing environments as we did before is still scary. Even as we look on to brighter days ahead, people’s mindsets seem to have changed, and most of the social and economic effects we see now could be long-term.

So, while the economy will recover, the world after the pandemic will most look different from what was before.

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