Path Forward webinar: click here to view
How is the Pandemic Influencing Consumers?
Suzanne Clark, President of the U.S. Chamber of Commerce; Dr. Joshua Ackerman, Associate Professor of Psychology at the University of Michigan; Kelsey Robinson, Partner at McKinsey & Company; and Rich Thau, President of Engagious talk about consumer behavior changes during the coronavirus pandemic.
Here are some key takeaways from today’s conversation:
- Consumers want physical, visual assurances that places of business are safe. These might include placing hand sanitizer in a prominent place, having employees cleaning, showing a visible plan of action to protect customers and employees, and a certification from local health officials that the business is abiding by recommendations.
- Consumers maintain considerable optimism and pent-up demand for goods or services that have become limited or unavailable in the pandemic. When we reopen, businesses must seize that opportunity.
- Some customer expectations may significantly, and permanently, change (e.g. greater demand for online and contact-free services). We must not limit our thinking to “returning to normal” but instead look ahead to a “new normal” and be ready to meet new demands and expectations in the post-COVID environment.
The most important conclusion is this: The human spirit is indomitable. People are adaptive. I am optimistic that ingenuity, industriousness, and resilience will win the day.
You can watch today’s episode here.
–Suzanne Clark, President, U.S. Chamber of Commerce