Blog Abstract: The Great Consumer Shift
From time to time, team members will share their views stimulated by content from an industry thought leader. Here, social media expert Alexandra Sciocchetti discusses the recent McKinsey article, “The Great Consumer Shift: 10 charts that show how US shopping behavior is changing“
As a data geek, I loved this article. It provides a backbone to many of the trends our team (and plenty of others) have seen developing over the last few months. From an increase in digital shopping to consumers dropping their usual brands, McKinsey provides some excellent charts that display consumer behavior during the current pandemic. Here are my top takeaways:
Digital Shopping is here to stay.
Just a year ago, we were trying our hardest to convince a local client to get an online store up and running. Now they can’t add inventory fast enough. Even as stores re-open, the number of consumers shopping online continues to increase.
Brand Loyalty is out the window.
75% of US consumers are trying new shopping behaviors in response to the pandemic. Often this means new companies. Store closings, glitchy online shops, slow delivery and lack of inventory are just some of the reasons consumers find themselves switching brands. According to McKinsey’s Consumer Pulse Survey taken in June, most consumers plan to continue with their new shopping and brand habits after the crisis is over.
Americans are changing how they spend their time.
Movie theaters may be out (for the time being), but home-cooked meals, porch workouts, online entertainment, and home improvement projects are all in. As Americans dedicate more time to domestic activities, their consumer habits shift as well.
As shopping and consumer behavior changes, so too should your digital marketing campaigns. Pay attention to how consumers in your industry are researching and purchasing products. Tweak your messaging to appeal to customers in the current climate. Can your search engine visibility be improved? Does your website provide a seamless user experience? The longer your wait to make essential changes, the more consumers will consider other options.
Now head over to McKinsey’s article to check out their awesome charts!