You’ve heard it before.
Well, not quite like this. COVID and its consequences are having significant impact on consumers’ buying patterns, preferences and perceptions. The key leveraging and determining factor is time.
A broad sweep of consumers are wanting, if not demanding or exercising choice for spending less time travelling to do shopping, undertaking shopping and waiting delivery of the items and services that they bought when shopping. Less really is more.
The impacts are profound (whilst largely unrecognised and not understood) and have the potential to favour “local” products services and businesses, along with brick ‘n’ mortar premises.
Compellingly attractive features, benefits and advantages for NOW consumers are accessibility and immediacy. That is, the pathway to, figuratively, instant gratification.
“Local” products, services, businesses and physical premises are well located to enjoy advantages. It’s another differing perspective on the philosophy of: location, location, location.
The effectiveness of well-intentioned, often creative and emotive mass media campaigns which promote the virtues of “local” is often overstated. Typically, they can and do, elicit initial positive responses and stimulate consideration and conversations.
However, in the final analysis, consumer-centred factors, including quality, value and price competitiveness are key determinants of buying behaviour.
On balance and in several ways, saving and minimising time in travel, shopping and delivery are enticingly attractive propositions.
Quality, continuity of supply and gracious service complement such.
The total value-package reeks of “local” and “bricks ‘n’ mortar”. It is those which need repackaging and repositioning – thanks in a large part to the consequences of COVID.
The same principles apply to business-to-business, supply chain, wholesale, manufacturing and distribution scenarios. JUST act quickly – time’s up.