As U.S. states have now reopened in some capacity, there are several signs that consumers are cautiously re-entering the market with safety measures in place. Those early indicators include:
Times have changed, but most habits won’t. Find out why historical location data can tell us most of what brands need to know about future consumer behaviour.
Five ways historical targeting can help predict future behaviors: Part 5 – expanding target audiences
The COVID-19 crisis has disrupted the way we live, work and play. It’s also impacted national economies of countries around the world and in turn the personal finances of individuals. Decision making has changed and household budgets are tighter. In the UK alone 40% of the working population is currently furloughed or unemployed.
Much of our current movement must be planned and timed specifically. Public transportation is operating with reduced capacity and social distancing measures in most places. Public spaces and leisure areas face similar precautions, limiting the amount of potential for serendipitous encounters. Less meet-ups with friends to grab a coffee and a bite to eat and less opportunities for well-dressed windows to entice us to purchase.
During the periods of lockdown we witnessed dramatic shifts in consumer loyalty. In the US, in late February, brands were experiencing on average 78% loyalty. During the peak period of early April those figures rose to 90%, indicating that most people were going to one store only to pick up their essentials and didn’t “shop around”.
The world as we knew it before COVID-19 is forever changed. But that’s not to say that everything we knew in that world has changed. Humans are still humans and past behaviours can speak volumes about what people will actually do once lockdowns are eased and the rhythms of daily life start to return to ‘normal’.
Understanding the intersection of people and places helps chart behaviour patterns, habits and lifestyle indicators. In doing so we can make inferences and predictions based on known habits. However, with the current state of constrained connectivity and at a time when fewer purchase decisions are being made outside the home, past habits can provide key indications of preferences and buying behaviours.
In March 2020 we conducted an online survey with Sapio Research, which asked 2,275 consumers across the UK, Singapore and Australia a series of 25 questions. The aim of the research was to help brands understand customer loyalty from the audience perspective and the factors that influence loyalty.
Earlier this week we looked at gaming apps and the rise in activity at distinct points throughout the day. As part of ‘The changing behaviour series’ we’re taking a deeper look at what other apps are performing well in the app ecosystem and how brands can use consumer behaviour to inform their strategy.