Marketers could do well to understand changes in consumer behaviour brought on by COVID-19.
With COVID-19 impacting consumption habits, Procter & Gamble (P&G) highlights purchasing habits that should endure past the pandemic. As lockdowns continued and anxiety around personal health and product shortages increased, the demand for various P&G product categories also surged.
Comforts of home are expected to hold a significant place in consumers’ lives, as people stay indoors amid lockdowns. Also, consumers now will emphasise health and hygiene products and this newfound habit is predicted to continue beyond COVID-19.
Categories that slumped during the pandemic, could drive growth post-crisis, as the “pent-up” demand is released. P&G experienced high demand for hygiene products like Tide laundry, and Ivory soap. P&G’s chief operating officer and chief financial officer Jon Moeller holds “new habit formation or habit strengthening” accountable for increased levels of consumption.
[2 minute read]