With the global lockdown caused by the ongoing COVID-19 crisis, consumers are turning more and more toward online transactions. The crisis has significantly impacted consumer behaviour altogether in other ways, as well. This scenario has created an unprecedented surge in demand for the fast moving consumer goods (FMCG) companies.
Reasons for Brands to Align with Consumer Behaviour
There is a notable boost in the consumption of traditional and ayurvedic food items. Most of the brands have responded appropriately to these changing circumstances and have developed innovative products for the consumers in accordance with their requirements. Experts believe that this trend of online dependence is going to continue even long after the crisis has passed. Brands which make the most of this opportunity are much more likely to benefit in the long run. Presently, consumers are opting for digital services and platforms in almost every walk of life. It is imperative that the FMCG brands learn to swiftly align themselves to this shifting consumer behaviour. For instance, partnering with online delivery service platforms in order to better serve the consumers can help the brands to maintain their credibility in the long term.
The social impact of the crisis is likely to last for a longer duration than the economic impact. So it is highly essential that brands are prompt and amenable to align themselves to the changing market conditions.