Consumers Unmasked: Stage 4
Addressing New Spending Habits and Behaviors in a World Disrupted by the Pandemic and Economic Changes
Consumers Unmasked: Stage 4
Addressing New Spending Habits and Behaviors in a World Disrupted by the Pandemic and Economic Changes
Designed to help brands understand consumer attitudes and actions in the past 18 months, the final installment of EPAM Continuum’s longitudinal study details qualitative findings and reviews habits that were formed during and after the pandemic, with the onset of the war and the increase in the cost of living.
Consumers Unmasked answers these questions:
If you are in marketing, innovation or customer experience, this study is for you. It will give you a full picture about evolving consumer needs and interests during a period of changes in the world, and actions to take to stay relevant in this rapid evolving market.
REPORT | STAGE 4 | WINTER 2023
Consumers Unmasked
These are the results of our longitudinal consumer research, conducted during the pandemic and the global economic crisis.
Qualitative & Quantitative Surveys
Sector Insights
Food
Fashion
Fitness
Travel
Home
Key Themes
1.
Value-for-money calculation increasingly based on price.
2.
Deals and discounts determine loyalty.
3.
Consumers are looking for positive associations.
4.
Consumers are aspiring to sustainability, but living with affordability.
5.
Room remains for impulse buys and passion purchases.
6.
Brands must contend with two clear camps of the post-COVID consumer.
Takeaways
Affordability beats sustainability…
for now.
Quality experiences expected.
Local experiences appreciated.
Online is expected everywhere…
but retailers should not neglect in-store.
Shoppers will pay a premium for convenience.
Pandemic-honed reactions remain essential for the future.
Retailers should make every part of their service hybrid.
Inclusivity and transparency: authenticity still matters.
Is your brand prepared
to meet consumer demands?
Read the full report for more in-depth insights on evolving consumer needs and recommendations on how to keep up with demands.