Majority of the consumer brands faced headwinds during the COVID-19. However, crisis creates opportunities. Many companies are ramping up investment in social, e-commerce, and O2O given consumers did more online browsing and making more online purchases.
According to a recent survey on Chinese consumer behaviors, the move towards digital will continue as normality returns. Some even expect to spend more and will take other elements like product safety, environment, etc. into account.
Read the McKinsey report here to embrace these “new normals”, react to them, and path a road to the “next normal” in order to stand out in a post pandemic world.
Source: Cautiously optimistic: Chinese consumer behavior post-COVID-19, McKinsey & Company, March 2020