Life After Lockdown: Lessons for Consumer Strategy
We have now taken a weekly pulse of 8,000 Australians to understand how they are feeling and how their consumption behaviours are changing as a result of the COVID-19 crisis. And we have further examined and contextualised this data via anthropologically-anchored qualitative research. So this week, we are sharing with you our synthesis and observations from the first 10 weeks of Australians responses and reactions to the COVID-19 situation. The report is Life After Lockdown: Lessons for Consumer Strategy.
In this report, we provide a behavioural framework to help organisations make sense of how consumer behaviours are adjusting – our research suggests that some of these behavioural shifts will be ‘sticky’ and some will be ‘slippery’. And we believe that this framework can provide critical guidance for leadership seeking to reorient business strategy to navigate these uncertain times.
CONSUMER BEHAVIOUR CHANGE FRAMEWORK
Our research has identified four behaviour shifts which are connected to how much our values and our behaviours have been altered as we have lived through the past 4 weeks. These are:
- Transformational Shift, which occurs when there is a strong change in both our values and our behaviours. This will be sticky.
- Mindset Shift, which represents significant changes in our values with smaller behavioural impact. This will likely be sticky.
- Lifestyle Shift, which is when our behaviours have changed but our values have not. This will also be sticky.
- Snap-Back, which is our response to enforced adjustments. There is some behavioural change, and no values change. Once the status quo is reinstated, these behaviours will spring back to pre-COVID ways.
These shifts are explored further in the report, and we provide some questions and ideas to provoke your organisation’s thinking about your consumer strategy now and for when the world becomes more normal.