Report: Living in COVID-19 times
Undoubtedly, COVID-19 has changed the way shoppers and consumers behave in the FMCG market.
At Worldpanel Division of Kantar; we believe these changes will continue in the foreseeable future as shoppers/consumers adapt and adjust to the new market reality.
Within the past few weeks, we have seen movement policies enacted across the Asia Pacific region at difference speed and pace. Each market taking a difference stance and approach be it in the level of flexibility, and/or length of control.
In addition, we are also experiencing an evident rise in the unemployment rates, and a dynamic change in how people consume and shop.
This publication examines the changes in how shoppers/consumers behaved post lockdown. More importantly, how the following impacted the overall FMCG spend in each market across Asia.
In addition, we will also be examining the impact of Out-of-Home expenditure vis-à-vis In Home, and what changes/shifts we are observing:
- Accessibility to shop (E-commerce/ O2O vs. Brick and mortar stores)
- Spending power (driven by the contribution of the social economy classes; and the potential impact of festivities and unemployment rate)
Manufacturers and retailers will need to adapt to themselves to these changes. The two most commonly asked questions we get center around:
- What learnings can I take from markets in recovery?
- What changes do I need to make today to ensure that I continue to stay ahead?
Whilst is it important to learn from markets in recovery, we equally need to have a realistic lens on what and where we are learning from.
In essence, we cannot average Asia.
Find out more in our latest publication – Living in the COVID-19 times!