As consumers continue to adjust to the Coronavirus pandemic, economic climates are also bringing in a new wave of consumer trends. New shelter-at-home policies have pushed businesses to cross new boundaries. Along with that, consumer behavior trends have shifted as well. While these statistics are helpful in understanding buying patterns in today’s economical climate, it's critical to use this information to help you pivot accordingly. Staying up to date with consumer trends will help you make creative decisions in how to serve your customers during this time.
To better understand how to best adjust your marketing, we’ve complied a list of statistics on consumer behavior trends that have changed due to the Coronavirus pandemic. Learn about changes in consumer behavior, consumer expectations of brand communication, content/media consumption trends, and why it is important to use marketing technology during this time.
- How Retail Trends are Changing Due to COVID-19
- How Consumers Expect Brands to Communicate During the Pandemic
- How COVID-19 has Affected Content & Media Consumption Trends
- Shifts In Digital Marketing Data Since the Pandemic Began
How Retail Trends Are Changing Due to COVID-19
The shelter-at-home policy has created new challenges for retail stores that rely heavily on their brick-and-mortar sales. In response, online orders have skyrocketed but are also experiencing friction with their processes to deliver on time. Learn how consumer behavior has changed with the new challenges this pandemic has brought across retail.
- Revenue for Food and Beverages declined by (-47.1%) after panic-buying slowed by mid April. (Amperity)
- In a survey done by Nielsen, 69% of respondents reported that they purchased household goods online for the first time because of the pandemic and claim that they will do so again within the next 12 months. (Nielsen)
- On average, Millennials ($195.23) spent more stockpiling for the Coronavirus quarantine than Gen Xers ($179.24) and baby boomers ($150.88). (LendingTree)
- 1 out of 5 consumers are spending more money on supplies than they can afford. (LendingTree)
- 76% of consumers are adjusting their shopping habits because of COVID-19 concerns. (SuperMarketNews)
- 67% of people living with kids under 18 said fast delivery is important to them, compared to 48 percent of those without kids at home. (Klaviyo)
- 83% of consumers intend to continue buying health supplements and focus on health. (Nielsen)
- 54% of consumers are no longer considering big ticket item purchases such as cars, trips, luxury goods, and homes until after May 2020. (Agility)
- Home improvement, interior design products, and gardening sales experienced a 13% increase since early March 2020. (Criteo)
- Spending is up by 35% to 40% for in at-home fitness, 20% to 25% in medicine and medical supplies, 15% to 20% in at-home entertainment, 15% to 20% in groceries and 10% to 15% in pet supplies. (SuperMarketNews)
- Ecommerce sales for electronics is at 42.7%, while apparel is at 28.9% and food and beverage at 3.2%. (eMarketer)
- 31% of US households have used an online grocery delivery or pick up service during amidst the coronavirus outbreak. (SuperMarketNews)
- According to TABS analytics, US internet users jumped from 38% in 2018 to 56% in 2019, while the percentage of those who regularly ordered groceries online spiked from 17% to 37%. (eMarketer)
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How Consumers Expect Brands to Communicate During the Pandemic
Many brands have taken the initiative to communicate to their customers how they are responding to the pandemic. Research shows that consumers find it reassuring to hear from brands they know and trust during this time. However, it is essential to keep in mind your customer's change in priorities and the heightened sensitivity during this pandemic.
- Over 40% of consumers want to hear how brands are responding to the pandemic and find it reassuring to hear from brands they know and trust. (4A’s)
- 64% of consumers expect brands to respond and communicate differently during the pandemic. (CampaignLive)
- 65% of consumers report that brands’ actions significantly or majorly impact their trust in a time of crisis. (Qualtrics)
- 33% of consumers say they will trust brands more in the midst of COVID-19 if they don’t take advantage of a crisis to maximize their own profits. (Qualtrics)
- Only 24% of US adult online consumers trust that companies are currently prioritizing the health and well-being of their customers when making business decisions. (Forrester)
- 29% of U.S. consumers started using a new brand during the pandemic simply due to the amount of compassion and innovation a brand exhibited during the outbreak. (CampaignLive)
- 52% of US online adults prefer to buy from companies that show how they are protecting customers against any threats of COVID-19 (Forrester)
- Studies show that shoppers may be becoming more accepting of delays as brands set more realistic delivery expectations. (Klaviyo)
How COVID-19 has affected Content & Media Consumption Trends
Given the self-quarantine practices in place, it makes sense that internet usage has increased by 70%. Streaming services, such as Netflix and Disney+, are expected to see a 12% growth. Other than shifts in purchasing behaviors, people are also consuming content and media differently than before the pandemic.
- 42% of Americans are watching more shows/films on streaming services such as Netflix. (Statista)
- 32% of Americans are spending more time on social media platforms such as Facebook, Instagram, Twitter, etc. (Statista)
- The average daily in-home data usage in the US increased by 38% when comparing March 2020 to March 2019. This increase is observed in all device categories. (Statista)
- While 18% of Millennials are saying they are likely to spend more on music streaming services compared to the 5% of Boomers during the pandemic, consumers of all ages overall share the same sentiment of increased music streaming services usage. (Statista)
- More than 40% of consumers prefer that brands communicate about virus-related issues through traditional media and email versus social media (19-31%). (CampaignLive)
- 33% of consumers started reading the news due to COVID-19. (Nielsen)
- On a global scale, 60% of people are turning to news channels, 55% to news websites, and 47% to social media. (GlobalWebIndex)
Shifts In Digital Marketing Data Since the Pandemic Began
Consumer behavior trends continue to indicate the necessity of marketing technology tools. This is because tools such as automation and customer relationship management platforms optimize conversions and increase return on investments (ROI). Here are some of those statistics:
- The average monthly website traffic increased by 13% in March 2020, compared to February 2020. (HubSpot)
- Consumer packaged good's eCommerce sales increased by +85% within the first week statewide shelter-at-home policies were put into effect in the US. However, online sales declined by -22% the following week due to strain on online fulfillment systems. (Nielsen)
- Within the week of March 16, the average marketing email volume and open rates increased by 29% and 53% respectively. Open rate for emails increased by 21% overall in the month of March. (HubSpot)
- There was a 161.4% increase in traffic to supermarket sites in March, compared to just a month earlier. (InfluencerMarketingHub)
While it’s important to do your research about today’s changing consumer behavior trends, it doesn’t stop there. In order to adjust and thrive during this economic environment, companies will need to revisit their buyer personas to better understand their customers’ new challenges, expectations, and priorities. This will serve as a foundation in building a message strategy that will truly resonate with your audience.
By understanding how to provide consumers valuable content through their preferred communication channels, you’ll stay relevant and top of mind for your customers. Now more than ever, companies need to realize that the impression their brands leave now will be one that is long-lasting.
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We have dedicated ourselves to fighting through this, and we are here to help and join your fight as well. Stay healthy, stay positive, and know that this all will pass.
Tags: ECommerce Marketing