Adapting to Your Customers’ Post-Pandemic HabitsBy Evan Snively, Senior Client Engagement Associate
Have you been wondering how customer behavior will change in the post-pandemic economy? So have we.
In fact, it’s so top of mind that we asked over 1,000 U.S. consumers in June of 2021 about their expected buying behavior and brand loyalty post COVID-19. Their responses are full of fascinating insights and unexpected quirks, including three key takeaways to inform your customer strategy:
#1 Some of your customers are never coming back
1 in 4 could identify a brand they stopped shopping with during the pandemic that they won’t return to.
#2 Almost half of customers plan on revising their buying behaviors
46% expect to be “Revisers” – stating COVID-19 will have long-term effects on their behavior as customers. The other 54% expect to be “Reverters” – simply returning to the same behaviors they held prior to COVID-19.
#3 Those revising their behavior put more weight on your company’s values
“Revisers” are 2x more likely to be greatly influenced by a company’s values than Reverters. 26% of Revisers said their purchasing decisions will be “greatly influenced” by finding companies matching their values, vs. 13% of “Reverters.”
The bottom line
Simply biding your time in hopes the dust will settle and all of your pre-pandemic customers will soon return isn’t a viable option. Nor is assuming that the new customers you earned during COVID-19 will stay loyal moving forward. So, what are some steps you can take right now to ensure your company’s success in the coming months?
- Come to terms that the opening of our economy does not mean “back to normal.” It means we are now entering yet another new phase where consumer behavior might be as erratic and novel as it was during lockdown.
- Increase your understanding of human nature. Do you know if your brand is likely to benefit (or suffer) in the coming months from human heuristics like moral licensing, availability bias, or the bandwagon effect?
- Maximize the growth potential of this next phase with an intentional loyalty strategy. If you don’t have a business plan with specific strategies to retain new customers you gained during the pandemic as well as convert competitors’ customers who have developed a wandering eye, your company is not optimizing.
As people emerge from lockdown and reengage with the world and each other, there is a lot to consider regarding the future of consumer behavior. Buying habits have been substantially disrupted and there’s now great opportunity for brands to capitalize.
You don’t have to navigate these changes on your own. Our Customer Experience team will work with you to develop a loyalty strategy that is targeted and nimble, creating an authentic customer connection that will have a lasting impact on your business.
Learn more about our Customer Experience Practice Here