Ipsos identifies five points of change in consumer response to COVID-19

Geoffrey Precourt

Ipsos, the research firm, believes the major changes in consumer behavior resulting from COVD-19 could have significant staying power.

Why it matters

The interconnected impacts of COVID-19 – from shopping habits to unemployment and low consumer confidence – will exert a profound impact on the trading environment for brands. Understanding this complex network of outcomes will be essential to forming brand strategy.

Takeaways

  • The impact of COVID-19 on consumers is stratified, with educated, affluent consumers more protected, whereas less affluent consumers are more vulnerable.
  • For many shoppers that are focused on day-to-day survival in a recession, brand names will matter less than price in making purchase decisions.
  • Uncertainty is an inevitable side effect of the pandemic, and marketers should...

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