Profitero-危机事件对消费者行为的影响（英文）-2020.6-21页_1mb

The Cheating Consumer Summary

Core Content Overview

This document explores how crisis events, such as the COVID-19 pandemic, can trigger massive consumer brand switching and substitution behavior, leading to significant sales losses and new growth opportunities for agile brands. It outlines key findings and actionable strategies for brands to adapt and thrive in this shifting market landscape.

Main Findings

• Brand loyalty is up for grabs: Consumers are more likely to switch to alternative brands when their preferred brand is out of stock. The switching rate increased by 75% to 127% between January and April 2020.
• Invisibility breeds irrelevance: Out-of-stock (OOS) issues make big brands less visible on digital shelves, allowing smaller and challenger brands to gain traction. For example, the organic share of page 1 for "toilet paper" dropped from 92% to 49%.
• Competition may be bigger than you think: Consumers are switching between categories based on availability and value. For instance, the category switch index for "disinfectant wipes" increased 2.5X in April compared to January.
• Products are the new services: The closure of services like restaurants and gyms has driven consumers to seek product-based solutions. "Hair clippers" and "workout equipment" saw demand increase by 90X and 40X respectively.
• Go digital or be gone: The shift to online shopping is accelerating, with grocery sales online increasing 150% YoY. Brands must prioritize digital strategies to avoid losing market share.

Key Insights

• Consumer Behavior: During crises, consumers prioritize availability and price over brand loyalty.
• Digital Shelf Importance: Page 1 placement on e-commerce sites is critical, with 71% of category sales occurring there.
• Adaptation Strategies: Brands must build flexibility in supply chains, enhance digital presence, and monitor trends and keywords to stay relevant.

Actionable Steps

• Build Flexibility: Ruggedize your supply chain by offering pre-orders, restock notifications, and subscriptions.
• Focus on Digital Presence: Invest in SEO/SEM, product content optimization, and ensure visibility across all retailer platforms.
• Reassess Competitive Landscape: Evaluate your product portfolio in the context of broader consumer needs and trends.
• Track Digital Metrics: Monitor trending keywords, product traffic, conversion rates, and OOS rates to pivot quickly.
• Enhance Customer Communication: Keep consumers informed about inventory status and brand availability to retain loyalty.

Case Studies & Examples

• Male Shaving: Switching rates from disposable razors to other brands dropped by 46% as OOS rates declined.
• Toilet Paper: The shift to smaller brands was significant, with "toilet paper" searches seeing a surge in new brands.
• Hair Clippers: Demand increased 90X as consumers sought alternatives to traditional shaving methods.
• Home Office Equipment: Keywords like "home office desks" and "ergonomic office chairs" saw significant search spikes.

Conclusion

Crises like the pandemic disrupt established consumer behaviors and create new opportunities for brands that adapt quickly. Brands must be agile, monitor digital trends, and prioritize their digital presence to retain market share and customer loyalty. The future of consumer behavior will continue to evolve, and brands that are prepared will be the ones to succeed.

Checklist: Essential Data and Digital Metrics

Addendum: The Cheating Consumer Update

• Loyalty Recovery: As OOS rates level out, consumer loyalty is returning, particularly in categories with strong brand preference.
• Persistent Switching: High switching rates remain in categories with limited inventory, such as toilet paper and disinfecting wipes.
• Ongoing Trends: Brands must continue to track and adapt to changing consumer behaviors and digital dynamics to remain competitive.