2020 has brought about major changes across the globe in the aftermath of the pandemic. Many businesses have had to adapt to the digital world and change how they operate.
In addition, human behavior and consumer habits have also changed. We had to adapt to the situation throughout different aspects of life, from how we entertain ourselves to the way we work.
Social media and many other apps have offered some reprieve for many, including companies.
Want to learn about some changes in our behavior? Read on!
- Changes in Consumer Behavior: Before the pandemic, a progression towards digital consumption and online shopping was in the works, but 2020 accelerated the process and has forever changed the way people shop.
- Time at Home: Due to various constraints, consumers now spend more time at home, which has increased digital commerce and online activities. More value is placed on spending more time with family or roommates.
- Healthy Living: Physical and mental care has become a priority for many. During the early stages of the quarantine period, thousands of people made their homes a center for work, fun, and of course, exercise. Physical activity became essential for many.
- Remote Work: This trend accelerated in a few short weeks. Although it was a method that was implemented in some sectors, the coronavirus caused thousands of companies to reconfigure the way they operate and adapt to remote work.
- Online Entertainment: In recent months, subscriptions to platforms such as Netflix and HBO have increased significantly. Disney+ achieved in one year what they had planned in four! The same goes for online games and social media. TikTok has been a constant source of entertainment for many.
Many of these changes are responses to our new needs. Uncertainty also plays a fundamental role in the way we behave. In turn, brands have been adapting to the demands of new consumers.
What are these new consumers like?
More Sustainable: 16% of consumers are thinking about recycling and reducing their environmental impact. They choose sustainable products, and how they consume is based on their care for the environment.
- Thrifty: These are consumers who focus more on the functionality and price of the product than on the brand. This group represents about 35%, according to a study made by the EY Future Consumer Index.
- Health Conscious: The priority of these consumers is their health and that of their loved ones, so they choose brands they already know and trust.
- Experimenters: 12% of the population (according to the EY Future Consumer Index) seeks to live life to its fullest, seek new experiences and enjoy every moment. They are open to trying out new products and services.
- Social: This type of consumer is concerned about the greater good and is socially involved. They place their trust in companies that are transparent and contribute to the community.
The last year has brought great changes in the way we behave and see the world. The digital world has experienced significant growth, and many of these changes are here to stay.
Digitizing your company allows you to connect with thousands of consumers who live online.