A much more discerning grocery shopper is emerging in the wake of initial widespread panic-buying sparked by COVID-19 this past spring that led consumers to disregard prices and stock up on products and ingredients required to prepare the entirety of their family meals at home.
In more ways than have yet to be realized, the novel coronavirus (COVID-19) pandemic has changed the day-to-day lives of nearly every consumer the world over. This is especially true for office workers with traditional nine-to-five day jobs, where in-person meetings were the standard and the dress code called for something more formal than leisurewear.
By successfully carving out its own identity, hard seltzer poses a threat to traditional FMB and core beer options, and even the broader alcohol category, largely because overall alcohol budgets and tolerances are finite. In comparing March and April 2020 with the same two months in 2019, hard seltzer buyers decreased their share of spending on beer and wine, with beer losing 5.6 share points and wine losing 4 share points among this consumer group, while spirits were relatively unaffected.
The impact within the U.S. pet retail industry has been substantial, with sales numbers fluctuating at historic proportions. During the month of March, as shelter-in-place orders went into effect across the U.S., pet owners rushed to load-up their pantry with essential pet food and supplies. Sales numbers skyrocketed during the second and third week of March, netting 40% and 51% growth, respectively.
As the country emerges from over a month of restricted living, questions now arise around how and when consumers’ lives will return to normal in the near future. Faced with uncertainty about the future, advertisers and marketers have exercised caution and are closely scrutinising their spend and activities to ensure their people and businesses remain viable once life returns to normal.