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.
U.K. is following in the footsteps of many other countries including China, the U.S. and Italy, where Nielsen research found significant spikes in the hoarding of emergency and essential supplies as consumers rush to build “pandemic pantries.”
Irish consumers are actively stockpiling grocery and medical items as concerns grow around the Novel Coronavirus (COVID-19) becoming a worldwide pandemic. This level of consumption is placing immense pressure on grocery retailers as fears spark panic buying.
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...