Date Posted: Tuesday 9th June 2020
Condé Nast Britain has released its first insight report from its newly revamped research department to help brands navigate the normal. The insights report, Looking Beyond Lockdown - Changing Consumer Behaviour in Response to Covid-19 was conducted by asking over 2,500 consumers and hosting online interviews with proprietary communities.
The results indicate that UK consumers are facing the future with a sense of hope with 91% believing the UK will return to normal by 2021, if not sooner.
The main findings from the report are:
Media consumption is high: 87% have maintained or increased their use of social media; 73% have maintained or increased their use of print media and 88% have maintained or increased their time with online media websites.
Virtual is now a reality and it is becoming lucrative for some in entertainment and education: 92% have engaged with a virtual seminar and/or performance in recent weeks and 75% plan to maintain or increase their spending on in-home entertainment in the next 12 months.
Brands are prioritising being there for their consumers and community. People will remember the household names that shared their values during this time of mass reflection and scrutiny: 82% are likely to support businesses that are “giving back” by spending with them.
A sense of community is galvanising the nation and those who can afford to are giving back financially where they can, as small and local businesses bear the brunt of the impending recession: 90% are likely to support small businesses by spending more with them and 73% are likely to give to charity or fundraise for charity.
Revenge spending describes the surge in sales seen among luxury goods in China after the Covid-19 lockdown restrictions were eased. For some, this self-care will come in the form of grooming or a new wardrobe, and for others, it will mean accruing possessions, in lieu of experiences: 87% plan to return to the high street and shopping centres for leisure once they safely reopen.
Routines have been upended and people have started doing things differently. This ‘first-time’ paradigm has seen exponential growth in ‘how to’ content and e-learning platforms. Many will persevere with new habits, taking with them the brand loyalty cultivated from those early experiences: 74% plan to maintain or increase their spending on education and self-development.
Post-lockdown, many consumers will re-emerge with a newfound appreciation for the impact that homes have on our state of mind, and will choose to invest in the indoors while outdoor freedom remains tentative for the foreseeable: 2/3 plan to increase or maintain their spending on property.
Athleisure, streetwear and 90s-inspired shell suits have become mainstays of catwalks and high streets for the past few years, and now these pieces have become ubiquitous necessities for comfort for those who are working from home: 69% are now looking for the same or more information on loungewear
The lipstick effect is a phenomenon identified by economists that explains the growth of the beauty industry during times of economic crisis. Covid-19 has led to new challenges and opportunities for beauty. Masks, treatments and bathing rituals benefit from time gained at home and a renewed focus on self-care to offset anxiety: 1/4 who are using more skincare products, expect to continue post-pandemic and 73% who are using less make-up expect to revert back to their original habit post-pandemic.
Health and wellness is one of the most promising categories for projected spend in the next 12 months, not least in a bid to stave off illness, but as people adapt their living space to accommodate indoor exercise regimes: 72% plan to maintain or increase their spending in health and wellness and 85% who are now exercising more expect to continue post-pandemic.
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