I hit my broadcast studio yesterday to take on the top question of the week sent in via my Ask.A.Futurist series. Send in your question here, and if I select it, I’ll take it on!

This week’s question? Basically around the issue of how we might see consumer behavior change as a result of the global pandemic – what can we expect for the rest of 2021 and into 2022? Clearly, we are seeing new signs of hope amidst a massive vaccine rollout in various countries, and so things are obviously changing. How will consumers change?

I always do extensive research for my new projects, and for this one, I came across some wonderful insight from KPMG from over 75,000 consumers in 15 countries with respect to their future

  • 43% are worried about their financial security in 2021;
  • 36% will prioritize savings over their spending;
  • 21% expect an actual net spending decline;
  • 63% expect that value for money will be their key purchase driver

Clearly, the numbers tell us that we won’t see a massive return to pre-Covid spending levels – there is still a lot of economic pain otu there.

What about how they will shop and spend? Don’t expect a rush back to retail: 45% expect that digital channels will continue to be their main spend method going forward. E-commerce, online shopping, and curbside pickup/delivery will be with us for a long time to come. If omnichannel was an issue before – it’s massive now.

In addition, brand loyalty has disappeared – 36% of consumers are now buying from more brands as a result of Covid, and 45% indicate less loyalty to the brands they ‘loved’ pre-Covid. Some of this spending will be local – 35% have tried a new channel, and 29% have tried local shops!

I also covered a number of other important issues in the second half of the video – give it a watch to discover some of the secrets to your consumer interactions going forward!




THE FUTURE BELONGS TO THOSE WHO ARE FAST features the best of the insight from Jim Carroll’s blog, in which he
covers issues related to creativity, innovation and future trends.