Changes in consumer behaviour brought about by the COVID-19 pandemic have created both challenges and opportunities for FMCG brands in Asia.
From the increase in at-home consumption to a shift in shopping patterns in favour of online and proximity channels, it’s clear that new needs and behaviours have emerged.
Looking ahead, the economic impact of COVID-19 makes recession seem a certainty, leading to fears over jobs and income. Consumers will need to make some new choices about how they spend their money, where they spend their money and what they spend it on.
But if we take the learnings from previous recessions, we can see that FMCG brands are likely to be better placed than others to withstand the pressure and disruption of a global crisis. For some, it will be about rebuilding their business; for others, it will be about staying ahead. For many, it will be about reinventing themselves for the ‘new normal’.
In our new ‘What Now? What Next?’ paper, we help you navigate through challenging times by examining some of the commonly asked questions across the Asia Pacific region, including:
- Global vs local brands – who is winning and how?
- Changes in consumer/shopper behaviour – how and why are they shifting their spend?
- Ecommerce in FMCG – how incremental is the channel?
- What is the role of proximity stores – now and in the future?
- How are the ‘displaced’ (lower income households) behaving?
- What role will pack, price and promotion need to play in winning back shoppers?
In addressing these questions, the report showcases some market examples to provide practical actions on what to consider as brands move into a post-COVID-19 world.