Understanding how consumers interact with a brand can help advertisers attract new buyers.
As COVID-19 impacts shopping behaviour, CPG brands must re-evaluate their marketing strategies. Lance Brothers, chief research officer at NCSolutions states, brands must consider factors like shorter purchase cycles, fewer store visits and changes in high-spend shopping days to understand consumers.
In the early stages of COVID-19, consumers bought new products and even tried new brands, due to variables like insufficient inventory. By this precedent, brands with a loyal consumer base must deliver value-based advertising to their loyal consumers in the coming months.
However, such brands also stand a chance to attract new consumers, as changes in CPG purchasing habits are driven by the pandemic. The author contends brands now have an opportunity to change their market position and acquire new consumers for the long-term.
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