During these challenging time, consumers are turning to self-care products more than ever.
A social media survey by Brightfield Group shows 50% of the consumers have stocked up or plan to stock up on CBD products. Main reasons for consumption are self-care (mentioned in 27% of the posts), anxiety and stress treatments (20%) and for relaxation (12%).
Households worldwide are adopting new ways of living, which impact the way consumers shop, what they buy and their set of preferences:
Grocery traffic is on the rise: Consumers are stocking up on essentials (and panic buying).
Demand for delivery is increasing: Delivery services are being used more frequently.
Friction-less payments are up: Consumers are adopting contact-less payment methods.
E-commerce rates are climbing: Consumers are avoiding brick-and-mortar stores and placing large online orders for staple items such as nonperishable foods and household goods.
Consumer buying and consumption behavior is rapidly changing: consumers are nesting and learning new home/life skills; they are more focused on germs and bacteria, and self and small family entertainment.
Realizing these changes will open opportunities for business innovation to present solutions for the changing needs and infrastructures.