NAVIGATING CONSUMER DEMAND DURING THE CORONAVIRUS

As COVID-19 sweeps the globe, and countries and counties increase their state of lockdown, the economy is being battered as customers radically shift their behavior and investors lose confidence in world markets. How long the impact will last for remains uncertain and will be determined by the world’s collective efforts to slow its spread, “flattening the curve” of infection and ultimately distributing a vaccine for the virus to bring it to a halt.

Your customers need reassurance during this time. Research by GlobalWebIndex indicates that most consumers are worried, with 90% of consumers in the US and UK concerned, and that number increasing to 96% for Gen Z.

Brands are facing a number of headwinds as they navigate this situation:

• Decreasing Consumer Confidence and Increasing Anxiety
• Consumer Fear of Shared Spaces (i.e. Retail, Restaurant, Travel)
• Panic Buying of Household Goods (i.e. Sanitizer, Toilet Paper, Dry Goods)
• Bottlenecked Supply Chains
• Internal Organizational Health and Morale Management

This paper outlines steps you can take in managing customer communications for the best possible outcomes for your brand. At the core, it’s about doing everything you can to take care of your customers and alleviate their problems. This will pass, and brands who invest in their customers now will benefit in the long run.

Download it here.

Originally published at Schiefer Chopshop: SCS.