The COVID-19 pandemic has catapulted the world into a time of uncertainty and unparalleled change. As the impact of the pandemic has grown in both breadth and depth, retail has felt the massive swings caused by changes in consumer sentiment and shopper behaviour.
People are shopping differently in the pandemic. Volume and frequency are shifting as shoppers make fewer trips but purchase more in each of those trips. Shopper loyalty is also being challenged as shoppers prioritise immediacy and availability over their brand, category, and product preferences.Where shoppers shop is also shifting, with online and omnichannel platforms seeing explosive growth. These new behaviours are driven by a variety of factors: COVID-related safety measures that make getting out of the home more difficult, rampant out-of-stocks across categories, and shifting needs as the country spends more time at home.
As we continue to weather the storm and prepare for a gradual return to a new normal, our white paper shows why brands and retailers must respond to swings in shopper behaviour and demand shifts. The brands and retailers that will win are those that can make quick optimisations in the near term while maintaining a level head for long-term planning and preparation.
Download the white paper via the form below or contact our experts to start planning your future assortment strategy.