The pandemic-driven consumer behavior changes are here to stay, and they are shaping the trends for this Summer 2021. There was a sentiment that many used as a source of hope during the Covid-19 Pandemic, which was that after the 1918 influenza pandemic, the Roaring Twenties emerged and the economy boomed. This is the case now, as people cash in on their canceled air travel tickets, or just want to escape wherever they’ve been cooped up for over a year. Consumers are far more health-aware and socially conscious than ever, which is shaping the way brands must interact with their audience.
Experiential & Consumer Goods
The surge in consumer spending can be described as “post-Covid Revenge.” Vaccinated individuals are finally ready for what they’ve been missing out on during the pandemic. Harris Poll surveys have found that consumers’ top-planned purchases are shoes, smartphones, going-out clothes, concert tickets, and sporting events. These once-in-a-generation consumer behaviors must be capitalized on by businesses.
Health & Wellness
According to a HealthInsurance.com Survey, 83% of Americans are more aware of their personal health, and the health of loved ones, than ever before. This has led to a surge in the Fitness and Wellness markets, with even at-home fitness thriving post-lockdown. Many consumers don’t plan on abandoning their beloved online shopping habits, but the aforementioned survey found that 70% of consumers say they plan to shop in-store more than they did before the pandemic. This means that businesses with a Storefront component must optimize theirs in-store shopping experience.
The Consumer Price index in May 2021 jumped 5%, the fastest pace since the summer of 2008. With the financial toll many experienced through the pandemic, many consumers are wary of inflation. While the Fed says the inflation is transitory, many are concerned that the high prices could lead to the Fed pulling back on stimulus measures, harming businesses and individuals. This further pushes the point that is important for companies to be completely transparent to their consumers. The importance of earning the trust of consumers has pivoted many brands thinking to a prioritization of lifetime revenue. More than having a desirable product or service, brands are optimizing their messaging and image to win over customers that’ll stay loyal. This kind of customer delivers a far more reliable income to your business.
Another trend this summer, that builds off of Consumer’s increased awareness of where they spend, is the importance of convenience. A survey done by the Linnworks Agency found that 75% of consumers value convenience more than they did a year ago, and 95% say that convenience seriously impacts which retailers they use. This is a period of marketing overload as consumers spend more and more, which means that optimizing your business’s shopping experience is more important than ever. Consumers won’t put up with hard-to-use user interfaces, they can just take their business elsewhere. To further convenience to consumers, many businesses are utilizing voice search technology. This technology, shopping from programs like Google Voice or Amazon Echo, is expected to become more competitive in the future. In today’s competitive market, convenience can make or break your conversion.
Augmented Reality is another trend populating marketing channels this Summer. Using Artificial Intelligence technology, brands can deliver a more immersive and personalized experience, without the overhead and limitations of an in-person retail location. Marriott Hotel’s new app, Portal to Paradise, enables the user to aim a smartphone at a flat surface, and the app creates visual portals providing a 360-degree view of gorgeous resort destinations.
A Harris Poll found that the longer and more severe the local impact of the Covid-19 pandemic, the greater the demand to resume travel activities. Additionally, a study by McKinsey linked vaccination with higher spend intent, especially for activities such as restaurants, entertainment, and travel. This surge in consumer spending is giving businesses the chance to recover from financial losses throughout the pandemic. Utilizing digital marketing, and keeping an eye on the trends, can help your business capitalize on these behaviors unseen in 13 years.