As the novel coronavirus (COVID-19) spreads across the globe, we're monitoring key consumer behavior thresholds to help fast-moving consumer goods (FMCG) brands and retailers understand the status of each market, as well as how to best respond.
Joe Fan, who has a team of more than 1,200 retailer auditors operating across China, said access for his team was difficult at first, but they remained protected throughout the toughest days of the crisis.
The outbreak of the COVID-19 epidemic at the beginning of 2020 has adversely influenced China's retail industry, especially brick-and-mortar retailers. But some retailers were well prepared, and they responded quickly to the incident, turning the crisis into an opportunity.
Never mind national pride, opting for locally produced products may fast become a necessity for retailers and consumers concerned about products originating from countries where novel coronavirus (COVID-19) has spread.
There are six key consumer behavior threshold levels that tie directly to concerns around the COVID-19 outbreak. The thresholds offer early signals of spending patterns, particularly for emergency pantry items and health supplies.
As we watch this situation unfold and get a handle on the length of time COVID-19 may be in play, the ability to guarantee the quality and safety of products, environments and consumption, coupled with the recognition of how important this will be to communicate to consumers for the foreseeable...
Almost 20 years ago, when SARS (Severe Acute Respiratory Syndrome) swept China, the habits of China’s population changed for good. And early indications across the country are that the new Coronoavirus (COVID-19) may have similar long-term effects.