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  • 4 Post-Pandemic Consumer Behavior Changes to Consider

    August 19, 2022 | About a 3 min read

    Marketing

    4 Post-Pandemic Consumer Behavior Changes to Consider

    By Pathfinders Advertising
    August 19, 2022
    About a 3 MIN read

    The coronavirus pandemic and its series of quarantines and isolation events caused many shifts in consumer media consumption and shopping behavior.

    Although those events may have passed, the effects on consumer behaviors linger.

    Recommended Reading: Data-Backed Marketing Direction Regarding Recessions

    Here are four post-pandemic consumer behavior changes to keep in mind as you develop your next marketing plan or campaign, and the actions you may want to consider taking.

    Perceived Product/Service Value is Testing Consumer Brand Loyalty

    During the pandemic consumers began trying new products and product brands. In 2020, McKinsey & Company reported 36% of consumers had tried a new product brand, and 73% intended to incorporate new products into their routines. The main driving factors for these changes? Availability, convenience, and perceived value.

    Now McKinsey & Company found that consumers are still switching brands (and retainers). The main driving factor now is perceived value, and in many instances price.

    Chart illustrating that more US consumers are switching brands and retailers in 2022 than in 2020 and 2021. Source: https://www.mckinsey.com/~/media/mckinsey/business%20functions/marketing%20and%20sales/our%20insights/how%20us%20consumers%20are%20feeling%20shopping%20and%20spending%20and%20what%20it%20means%20for%20companies/svgz-consumerpulseapril-ex3.svgz

    Action(s) You May Want to Consider:

    Review your messaging mix and make sure that you are keeping the value of your product or services in front of your target audience.

    Consider tapping into your customer database to gain insights from those that are already purchasing products and services from you.

    Recommended Reading: Check out this real-world example on how to use your customer database to gain valuable insights.

    Where Brands Are Focusing Ad Dollars has Changed

    The pandemic changed the consumption of media content across many channels; this has caused many brands to adjust media dollars spend for television.

    Many brands have shifted ad dollars from traditional, linear TV to Connected TV (CTV). In 2022, digital ad dollars will surpass linear ad dollars in the US for the first time (eMarketer).

    Chart of Total Media Ad Spending Per Person in the US, 2018-2023. Source: https://www.insiderintelligence.com/chart/c/T11882/total-media-ad-spending-per-person-us-2018-2023-1

    Action(s) You May Want to Consider:

    Check to see if the demographic(s) that your target audience is a part of have shifted their attention toward Connected TV (CTV).

    If they have – start exploring and running some media via Connected TV (CTV) channels to gain performance insights and experience.

    Where Users Consume Online Video has Shifted

    Online, TikTok continues to grow its share of user eyeballs on its video content. User growth and time on the app shot up during the pandemic and has continued to grow.

    In 2022, it surpassed YouTube for the amount of time users spent on the app, and the difference is expected to continue to grow year over year (eMarketer).

    Action(s) You May Want to Consider:

    YouTube is still a valuable channel, but if you can start testing deployment of online video content via other channels, do it. You will gain experience and performance insights that will better prepare you and your brand to make potential distribution channel shifts in the near future.

    B2C Consumers are Still Shopping Online

    Many users continue to shop online as part of their shopping behaviors. More and more have hybridized their shopping – doing some phases of their purchasing process online.

    Recent research conducted by McKinsey & Company shows that US consumers continue to “spend more money online, but also returned to physical stores through 2021 and early 2022.”

    Chart illustrating that US consumers continue to spend more money online as well as have returned to physical stores. Source: https://www.mckinsey.com/~/media/mckinsey/business%20functions/marketing%20and%20sales/our%20insights/how%20us%20consumers%20are%20feeling%20shopping%20and%20spending%20and%20what%20it%20means%20for%20companies/svgz-consumerpulseapril-ex4-v2.svgz

    64% of B2C consumers surveyed said their primary shopping method is hybrid (BazaarVoice).

    78% of B2C consumers surveyed said they heavily value convenience (BazaarVoice).

    Action(s) You May Want to Consider:

    Evaluate and ensure that your website and online presence are strong. From arriving on the site and exploration, to checkout through order confirmation, make sure that you are reducing friction points across the consumer experience.

    Committed to Helping You Rise to Every Occasion

    If this has sparked any thoughts or questions, please do not hesitate to reach out to your partners at Pathfinders to talk next steps.

    Whether you reach out or not, know that our diverse team of integrated marketing subject matter experts are here to help you get the most out of your marketing efforts.

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