When the epidemic struck in 2020 and 2021, the entire world came to a standstill, leading to complete lockdowns of nations, extensive travel restrictions, and the shutdown of major enterprises. Due to increased unemployment and the scarcity of both essential and non-essential products, forcing consumers to stay at home had a substantial negative impact on their spending patterns. This also caused a dramatic shift in consumer behaviour. Many industries, including hotels and airlines, went into survival mode as a result of the epidemic, and some of them lost up to 20% of their brand value. However, companies in industries including health, hygiene, e-commerce, OTT platforms, food delivery services, etc. have experienced substantial growth.
Even though economies are already beginning to recover, the epidemic has changed consumer behaviour to the point where it may never get back to “normal.” Therefore, it’s crucial for companies to revaluate their strategy and adjust to the “new normal” if they want to not only survive but also grow in the upcoming year. JachOOs is a leading branding firm in Dubai which offers you Product Branding and Corporate Branding services according to your preferences.
1. Demanding Higher Standards of Brands
In the last year, more people have publicly spoken their thoughts and taken strong positions on social problems, particularly on various social media platforms. Consumers are now actively examining brands’ “social consciousness” and the principles they uphold. According to a study, a brand’s response to a crisis will determine whether or not consumers would continue to buy it once the crisis has passed.
Customers now want brands to take firm positions on social problems and support those positions with firmer actions. Brands that are socially aware and responsible are more likely to win the consumer’s trust quickly and, as a result, enjoy an increase in their brand value.
2. The Rise of E-Commerce Brands
E-commerce grew significantly as a result of physical stores closing and customers attempting to avoid crowded stores. Leading online retailers foresee a long-term shift in consumer behaviour toward omnichannel or online shopping platforms. However, companies who are entering the e-commerce market for the first time should take into account a number of essential factors before doing so, such as pricing, packing, delivery schedules, etc.
3. More Importance to Sustainability
Consumers are now more conscious of the things they use and how they affect both people and the environment as a result of the pandemic. Small sustainable enterprises are increasingly more popular with consumers than major brands, who are being forced to actively work to make their products more sustainable as a result. For instance, companies that produce cosmetics and skincare must deliberately work to provide animal-free goods. The food business has had to adjust in some ways and encourage sustainable eating habits as a result of the surge in veganism and vegetarianism.
4. Emphasis on Community Building
The pandemic compelled people to band together as a community and support one another through trying times. By adopting a more grassroots approach to communication and localizing the brand experience, brands should adjust their marketing tactics to reflect this shift in consumer sensitivities. Businesses that put an emphasis on assisting and nurturing communities during times of need will not only stand out from the competition but also win the loyalty and trust of their customers.
5. Collaborations and Partnerships
Forward-thinking companies understand that navigating 2022 and beyond successfully will involve new marketing techniques, such as brand partnerships and brand licensing, that they may not have previously considered. For instance, a number of companies are collaborating with other companies that share their values in order to aid individuals in need during these trying times. In addition to launching new product categories to combat the economic downturn, many firms are also experimenting with brand licensing in order to increase consumer brand loyalty and trust. To gain from brand licensing, however, businesses must make sure that they carefully select their licensee partners and provide them with all necessary assistance and direction.
6. Emphasis on Content
It will be increasingly important for businesses to assess the type of content they are producing and the channels via which the consumers are receiving it. Brands can express their positions on social problems and let consumers know what safety precautions they are doing for both their staff and customers during these unsettling times through their content.
7. Innovation is Vital
In order to thrive in this pandemic-affected economy, many firms are using technology and implementing internet business methods, something they didn’t have to consider before. A fundamental shift in consumer behaviour brought about by the pandemic has forced firms to adopt a continual innovation strategy in order to adjust to the new normal, in which working from home, internet shopping, social responsibility, and other factors have assumed a prominent role.
JachOOs: The Best Branding Company in Dubai
JachOOs is a top branding company in Dubai. We offer high quality Product Branding and Corporate Branding services according to your preferences meeting the deadlines. At JachOOs, we have a team of branding specialists who are prepared to assist your company in creating a brand that inspires awareness and brand loyalty from your clients. Businesses ultimately want to create a reputation that inspires confidence and high standards. Our team of branding specialists can assist you in developing a brand for your product that will emotionally connect with your customers and encourage them to make repeat purchases.