Now, we are seeing consumers exhibit behaviour changes in living, cooking, working, education, shopping, and entertainment. Some of these changes will ebb away as we move into a sense of normality, but some habits will remain permanent.
NielsenIQ research uncovered that in a financial hardship scenario, six areas were identified in which consumers have increased or decreased spending:
Consumers now dictate how brands make decisions
With consumers now driving spend in South Africa, there are implications on how brands should respond:
- CPG companies need to stay close to the changes brought about by the pandemic, using data to understand which categories are growing (region/channel)
- Using category trends and insights to identify which categories that CPG companies don’t need to play in
- CPG companies must consider how to make themselves a frictionless choice as markets change and shift
As global marketplaces adjust to a world of blended COVID-19 impacts, emerging trends point to one unifying element that seems to matter now more than ever: the shopper experience. Understanding the needs and shifting conditions of your consumer and addressing them with key data is the only strategy forward.
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