How Consumption Habits Have Changed
Consumption has changed forever
9th September 2021
Written by Tom Peace
Globally, consumers were forced into different purchasing patterns with lockdown restrictions and financial uncertainty, but which of these changes does research say are the new normal?
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Gifting From the Heart
“The pandemic has created a lot of anxiety. We’re reminded the world is not permanent. By giving gifts and things that are enduring and are a lasting expression of care, it helps us soothe a bit of that anxiety” consumer psychologist Chris Gray, Psy.D. of Buycology.
Browsing = higher spending according to First Insight with 54% of consumers spend upwards of £40 online – but that rises to 71% when shopping in stores.
The online experience is crafted to facilitate quick checkouts and with store closures and lower footfall, impulse buying without the in-store browsing is leading to declines.
Creative and Nostalgic Cooking
With more time to ourselves and the term 'fakeaway' trending we've been cooking much more extravagantly and from scratch with yeast sales soaring. We also reached for the comfort options cooking those childhood classics or reverting to the chocolate cereals of our youth and these trends are looking like they're here to stay.
Shopping Locally & Carefully
Our survey revealed that of the 60% who had permanently changed their consumption habits, half had begun to support local and smaller sellers with the other half shopping more carefully. Studies show that we are buying less, but higher quality items with the propensity to last and save money long term.
As businesses, by creating offerings and rewards that cater to the new ways of shopping we can better serve consumers, building lasting relationships and fostering loyalty.
You can find even more insight in The Loyalty Community Newsfeed: