In addition to keeping us informed, the news media can often inspire quick, sometimes targeted, behavior shifts, especially in times of crisis. But in today’s prolonged timeline of crisis, there are other factors driving consumer behavior transformation.
Two important narratives have been necessarily conflated as the novel coronavirus (COVID-19) has made its way around the world this year: the devastating impact of the deadly disease on the lives of millions and their loved ones and the almost immediate effect on the global economy.
The impact of COVID-19 on the U.S. pet retail industry has been substantial, with sales numbers fluctuating at historic proportions. Year-over-year in-store and e-commerce sales up by double-digits, but sales trends have fluctuated following pantry stockpiling in March.
As businesses across the U.S. begin to re-open, companies need to understand evolving consumer sentiment before assuming that open-for-business means business as usual.
Faced with uncertainty about the future, many companies are responding by trying to freeze all activity, from hiring to marketing. But stopping and cutting all activity can only persist for so long without dramatic downstream effects. Adaptation will be the key to survival.
With most of the world now on lockdown in an attempt to mitigate further spread of the novel coronavirus (COVID-19), it’s not surprising to see heightened e-commerce adoption across the U.S. What is somewhat surprising, however, is that in some categories and locations, online sales have been...
For the two weeks ended March 21, 2002, total U.S. CPG sales (in-store and online) increased $8.5 billion from the two weeks prior. For context, that’s 15x the average rate of change for a typical two-week period.
Brick-and-mortar retail may be readying for a resurgence. And somewhat ironically, a handful of digital brands are leading the charge.
Challenges arising from the spread of the new coronavirus (COVID-19) are likely to accelerate the use of existing and new technologies and tools as consumers go into lockdowns, millions are forced to work from home and digital connectivity takes even more of a hold on everyday habits.
There’s no shortage of omnichannel chatter across the retail landscape, and that chatter has been building for quite some time. But now that 44% of American households are actively buying food both on- and offline, the industry needs to focus more on the consumer and less on the physical channel.