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Published February 24, 2021, 8:00 AM
Baby boom and cautious spending are among the 12 top trends that will shape consumer behavior this year, according to a study.
Kantar, world’s leading data, insights and consulting company, has identified the top 12 trends that will impact how consumers navigate the new normal in shopping this 2021. These trends are baby boom impact, cautious spending, e-commerce expansion, leveraging omni channel, convenience and proximity, antibac, quest for immunity, bring the outside in, impulse at home, joys of pampering again, regionalizing of behavior, and sustainability.
Marie-Anne Lezoraine, general manager of the Worldpanel Division of Kantar Philippines, said that the top trends will affect consumer behavior as COVID-19 pandemic continues to influence the complexity of overall consumer behavior and mobility.
SunStar Retailers: 2020 a catastrophic year
NO PROFIT. According to Robert Go, spokesman of the Philippine Retailers Association-Cebu Chapter, no one talked about profit for 2020 as retailers suffer too much losses due to the coronavirus pandemic. He said losses could range from 10 percent up to 80 percent. Even businesses of deep-pocketed retail players weren’t spared. (KATLENE O. CACHO)
+ FOR the retail industry, 2020 was a nightmare. It upended everything.
Burdened by low consumer spending and disrupted supply chains due to limitations in logistics, the retail industry has been bleeding cash due to the coronavirus pandemic.
“Restaurant members totally closed and in-house dining remains a challenge. Fashion clothing and general merchandise are still struggling since sales, especially in malls, are very minimal. Only essentials such as supermarkets, pharmacies and hardwares were allowed to open early during the enhanced community quarantine
Reporter
PREI T. VALENCIA was a twice-a-month online shopper before the quarantine. These days she places online orders weekly for clothes or electronic device accessories. She even bought furniture online once.
“Now that everything’s online, it’s a lot easier to shop. Even SM and Robinsons malls are on Lazada or Shopee, or have their own e-commerce sites,” she said over Facebook Messenger on Nov. 18.
“I really don’t mind paying for shipping or delivery fees because I’d rather spend extra than risk exposure outside.”
Before COVID-19, malls would typically be packed as the weather turned cold, but the pandemic has chased foot traffic away, calling into question retailers’ ability to survive without revenue from the year’s busiest shopping season.