Consumer Habits Changed by the Pandemic Period

The Covid-19 pandemic changed our routines so far; created significant differences in every sector from production to retail. The epidemic, which raised new concerns in both production and consumption, revealed new business models and consumption habits.

According to the research conducted by the independent research company Nielsen, the new era has revealed 4 different types of consumers:

  • Existing Constrained – were already watching what they spent prior to COVID-19, and this has not changed
  • Newly Constrained – experienced worsening household income/ financial situations and are consciously watching what they now spend
  • Cautious Insulated – limited impact to income/ financial situation, but are watching what they spend a lot or much more than before
  • Unrestricted Insulated – similar or improved income/ financial situation and do not feel the need to watch what they spend

The Newly Constrained group increased by 23% only from September 2020 to December, showing that the strong effects of the pandemic still continues. Such sharp changes in consumer habits and spending trends are also reshaping the retail industry end to end. Brands can maintain customer loyalty with new offers and opportunities to the extent they follow the consumer’s concerns and habits.

So how do brands strengthen their ties with consumers whose spending habits have changed and are more cautious than before?

Personalized marketing helps both consumers and brands more than ever to manage their time correctly. Each consumer data actually forms the basis of the next shopping campaign, and the brand that offers the right offer at the right time succeeds in strengthening customer relations and gaining new customers.

In this pandemic period, when indoor visits change significantly, retailers need to develop new solutions so that people can reach the products they are interested in at the shopping points and fulfill their needs quickly. On-site and accurate marketing activities advance both consumer satisfaction and sales targets.

At PoiLabs, we provide the right tools and equipment for visiting maps and instant campaigns with beacon technology and offer digital solutions for companies to achieve their growth goals.