NEWS

BRAND RESILIENCE DURING A TIME OF CHANGING CONSUMER BEHAVIOUR

As a result of COVID-19, over 50% of the UK have de-prioritised purchasing a home, a car, or even having a child in the next year. Instead, enjoying life, spending time with family and helping others are key life priorities. The debate about the long-lasting effects of the pandemic are still ongoing, but forward-looking brands are already taking steps to respond to changing preferences and shaping the future.

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During our panel last week, experts discussed their views on how brands can stay relevant, what can go right and how easily it is for things to go wrong.

Ben Shaw, Director at ENGINE, hosted the session and was joined by Louise Richardson, Director of Marketing, Europe at Pinterest, Darren Bentley, Chief Customer Officer at Cazoo and Annie Gallimore, Managing Director at ENGINE Creative.

Brands are responsible for leading the way, by remaining authentic and building on existing equity. Undoubtedly over the last few months, they have been cautious, those who shout the loudest won’t necessarily reap the rewards. Consumers are looking for escapism and will judge brands on how they respond now and moving forward. The key here is to maintain authenticity and to hold brand values centrally. 

BRANDS THAT WILL HELP YOU FEEL YOUR WAY BACK TO NORMALITY WILL DO WELL!

Focusing on longer-term customer and employee experiences will position brands as best placed to emerge resilient post COVID. An urgent call to action to brands – help navigate consumers back to normality. Thinking too short term is dangerous as unfortunately kindness and unity may not remain, but focusing on new routines and healthy lifestyles will support new directions. After all, it only takes 66 days to build a habit – and we are pretty much already there.

COVID-19 MAY SOON BE JUST A MEMORY AND BRANDS NEED TO FOCUS ON THEIR LONG-TERM STRATEGY.

So, what does the road to recovery look like, are we seeing elements of this already? Pinterest has already seen a 150% rise in Christmas recipes throughout May – all trends are showing that people are craving normality. Darren from Cazoo mentioned that already their customers are behaving more and more predictably with no material difference in pre-COVID customer behaviour.

Finally, brand purpose. What role does it play in the recovery and resilience of brands? It goes back to authenticity; consumers will quickly see through a brand that doesn’t live up to expectations. If anything consumers have all become more cynical and expect more from brands – if there was a purpose there before we’ll want one!

To hear the conversation in full – watch the webinar now!

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