Consumer trends in the wake of Corona
At present, it is difficult to imagine a world where Corona no longer impacts every aspect of our daily lives. A time when visits to the cinema and theatre, as well as eating out at restaurants, can be taken for granted once again. A time when seeing family and friends is part of normal human behaviour. How we as consumers will act when some kind of normality has returned is an open question.
We’ll undoubtedly see an enormous increase in the social interaction that we’re currently denied. There’s even talk of a second 'roaring 20s', the era of indulgent excesses. That said, the pandemic has forced us to reflect on what is important in life. So, when all the post-pandemic parties have subsided and the initial rejoicing has receded, we may well enter a period of reflection. Some people are even talking about the need for healing as a natural response to the problems that confront us – climate change, trade wars, political unrest and, of course, another potential global health crisis.
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In the wake of the pandemic, consumers will seek to bring more balance to their lives and the demand for products that offer peace of mind and reduce stress and anxiety will rise. Recent studies show that consumers are currently preoccupied with mental and physical well-being as a means of preventing disease. This more reflective period will be accompanied by greater focus on the 'the joy of missing out', where all the things that we regard as important will take centre stage. Leisure time will become more sacred and new technology will only be part of life’s daily rhythm if it is of clear personal benefit. We will still see major technological advances, but these will be more focused on consumers and their requirements. Online shopping will continue. Artificial Intelligence will transform our lives – as will touchless solutions and new entertainment devices for the home.
During the corona pandemic, home has been a safe haven and will remain important. A new kitchen or kitchen gadgets, pleasure in food - new and exotic recipes as well as nostalgic dishes – will all help to make consumers feel safe and secure. Important, too, will be products, dishes and ingredients that affect our mood – as will lighting, textiles and plants in the home. We will also find security in nature. During the pandemic, many consumers have (re)discovered the joys of nature. A walk or run in the woods has provided a sense of peace and has helped to maintain our physical and mental health. The importance of nature and outdoor life is a trend that will grow and continue to inspire. Nature will also become embedded in the home with more urban gardens and plant-filled balconies as well as more homegrown fruit and vegetables. There is much to look forward to 'on the other side' and it cannot come soon enough.
Photo: Per Vesterbæk, Head of Department
Market Analysis, Consumer Economics & Statistics, DAFC