Wavemaker-勇敢地接受‘新常态’（英文）-2020.4.16-39页_4mb

Summary of "Braving the 'New Normal'"

Core Content

This report explores the impact of the global pandemic on consumer behavior and brand strategies across the Asia-Pacific region. It emphasizes the importance of understanding context, adapting quickly, and leveraging trends to drive recovery and growth. The report outlines key phases of the disruption, behavioral shifts, and strategic recommendations for brands to thrive in the 'New Normal'.

Main Viewpoints

• Optimism persists despite challenges: Across the Asia-Pacific region, consumers remain optimistic about recovery, with 78% in China and 57% in other markets feeling somewhat to very optimistic. Younger audiences are particularly confident.
• Context shapes recovery: Recovery patterns vary by market and category. Markets with higher pre-outbreak confidence are more likely to experience a V- or W-shaped recovery, while others may face a U- or L-shaped recovery.
• Trends are accelerating: The pandemic has acted as a catalyst for existing trends, particularly in digital and e-commerce. Some trends, like home cooking and online shopping, have seen sustained growth.
• Trust, flexibility, and effectiveness are key: Consumers are turning to trusted media sources like TV and print. Flexibility in messaging and media choices is crucial during recovery, and effectiveness of campaigns is more important than ever.
• The 'New Normal' is not a return to the past: The pandemic is reshaping consumer behavior and brand strategies. Brands must adapt to new norms and focus on long-term brand building and innovation.

Key Information

1. Optimism in Context

• Optimism remains high: 78% of Chinese people felt optimistic about recovery in February 2020, while 57% of APAC (excluding China) felt somewhat to very optimistic in April 2020.
• Behavioral shifts: Increased time spent on TV, housework, cooking, and family care. Social media usage is rising, but trust remains low.
• Recovery phases: The report outlines three phases – Outbreak, Recovery, and New Normal – with varying durations and recovery patterns.
• Brand resilience: Strong brands recover faster, as seen in the 2008 financial crisis. Brand building is more critical than short-term activation.

2. Trend Acceleration in the 'New Normal'

• E-commerce growth: E-commerce is accelerating, especially in categories like fresh food. Print media faces structural decline.
• Livestreaming: Brands are experimenting with livestreaming, but it's a short-term trend. Authenticity and creativity are key to standing out.
• Outdoor industry: While affected by lockdowns, the outdoor market is expected to rebound as people return to normal activities.
• Consumer behavior: Light buyers drive most of the "panic buying" rather than heavy buyers. The active stage of purchasing is getting shorter due to increased digital access.

3. Trusted, Flexible & Effective

• Trusted media: TV and print remain trusted sources of information, while social media has a significant trust gap.
• Mental availability: In times of limited physical availability, mental availability becomes crucial for brand recovery.
• Creative multiplier: Campaigns that reflect community and shared culture have greater impact. Brands with strong heritage and consistent messaging are more successful.
• Efficiency vs. effectiveness: Brands must balance efficiency and effectiveness, focusing on media that drives long-term returns.

4. It’s not panic; the laws of growth still hold

• Panic buying is normal: Panic buying follows established marketing principles, with most of the increase driven by light buyers.
• Brand investment matters: Brands that invested in building their brand during the 2008 crisis performed better. The same applies now.
• Consumer behavior remains stable: Everyday items see little change in consumer behavior, but marketing activity shifts significantly.

5. Lessons from the Recovery in China

• Brand purpose is re-evaluated: Chinese brands are focusing more on brand purpose and relevance during recovery.
• Innovation is key but not copycat: Brands should innovate meaningfully and avoid copying others. Clear KPIs and a balance of noise and relevance are important.
• Re-focus on priming stage: Brands need to rebuild brand bias by focusing on the priming stage of the consumer journey.
• Market-specific strategies: The report provides insights from China, highlighting the importance of adapting to local conditions and consumer needs.

6. Market Deep Dives

• Australia:

  • Optimism and anxiety: 55% of Australians are optimistic, but 62% are worried and 52% are nervous.
  • At-home behaviors: Increased time spent on TV, reading, hobbies, and socializing. Brands should facilitate these behaviors.
  • Recovery expectations: Travel, family time, and shopping are expected to bounce back, providing opportunities for brands.

• India:

  • Lockdown impact: 1.3 billion+ Indians were in lockdown, but optimism remains high at 75%.
  • Behavioral changes: Increased time on TV, social media, and online shopping. Self-improvement and learning are on the rise.
  • Consumer priorities: Consumers are looking to improve their lives, be more grateful, and invest in themselves.

• China - Hong Kong:

  • Social distancing: Hong Kong's streets are quiet, with consumers practicing social distancing for months.
  • Economic challenges: The city faces a recession, with shops and restaurants struggling.
  • Consumer focus: People are spending more time at home, contributing to household work, and engaging with media.

Strategic Recommendations

• Understand context: Assess your market, category, and brand's pre-outbreak context to plan for recovery.
• Invest in brand building: Long-term brand investment leads to disproportionate returns.
• Leverage digital channels: Focus on media that supports growth and mental availability.
• Be authentic and creative: Use emotional and culturally relevant content to stand out.
• Track and adapt: Monitor real-time trends and adjust strategies accordingly.
• Re-focus on brand purpose: Align brand messaging with current consumer values and aspirations.