Covid Impact : Conscious shopping and growth in demand of local brands witness spike
By Retail4Growth Team | August 12, 2020
The survey found that the pandemic is causing more people to shop for groceries online and shop more cost consciously
The COVID-19 pandemic has permanently altered consumer behaviour in India and nearly 90 percent of those surveyed are making lasting changes to how they live, work and shop, and there is no going back to the pre-pandemic world for consumer brands, as per a new report.
According to Accenture’s ‘COVID-19 Consumer Pulse Research’ that surveyed 2,500 consumers in India between March and June (among 45,000 globally), 85 percent of consumers in the country said they shopped more health-consciously while 85 percent said they were focused more on limiting food waste.
“The pandemic has taken a toll on brand loyalty and as consumers make more socially and environmentally sustainable and healthy choices, consumer goods companies must tailor their offerings accordingly and refresh their brand promise to meet these new requirements,” said Anurag Gupta, Managing Director and Lead, Strategy and Consulting, Accenture in India.
Consumers are more mindful of what they’re buying, striving to limit food waste, shopping more cost consciously and are making healthier and environmentally-sustainable choices.
The survey found that the pandemic is causing more people to shop for groceries online.
The demand for local goods and local brands is growing in the country, said the survey.
According to the survey, 74 percent of Indian consumers bought locally-sourced products while 79 percent of consumers wanted to shop at closer neighbourhood stores.