You’ve heard it before.
Well, not quite like this. COVID and its consequences are having significantimpact on consumers’ buying patterns, preferences and perceptions. The keyleveraging and determining factor is time.
A broad sweep of consumers are wanting, if not demanding or exercising choicefor spending less time travelling to do shopping, undertaking shopping andwaiting 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) andhave the potential to favour “local” products services and businesses, alongwith brick ‘n’ mortar premises.
Compellingly attractive features, benefits and advantages for NOW consumersare accessibility and immediacy. That is, the pathway to, figuratively,instant gratification.
“Local” products, services, businesses and physical premises are well locatedto enjoy advantages. It’s another differing perspective on the philosophy of:location, location, location.
The effectiveness of well-intentioned, often creative and emotive mass mediacampaigns which promote the virtues of “local” is often overstated. Typically,they can and do, elicit initial positive responses and stimulate considerationand 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, shoppingand 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 thosewhich need repackaging and repositioning – thanks in a large part to theconsequences of COVID.
The same principles apply to business-to-business, supply chain, wholesale,manufacturing and distribution scenarios. JUST act quickly – time’s up.
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