Chapter 4: How can brands best serve consumers in 2020?
This is a simple question with a complicated answer. After all, a brand’s purpose has to have some longevity to it for it to make sense. At the same time, consumer needs and preferences can be fickle. To address those needs and to live according to brand purpose requires no small amount of agility.
Let’s zoom in on what consumer needs and preferences look like at this point in 2020.
A recent piece from Accenture noted a ‘Maslow shift’: “Self-actualization has given way to basic needs, and CEOs must pay close attention to, and act upon, the needs of employees and customers in real-time.”
In July 2020, we conducted a Qriously survey to look at consumer perceptions around brand purpose and the needs they have this year. Responses came from more than 7,000 consumers across the US, Mexico, France, Germany, Spain, the UK, Australia, and Singapore.
We asked respondents to pick five things they were most interested in or concerned about since the outbreak of Covid-19. The list we provided was loosely based on Maslow’s Hierarchy of Needs – focusing on both basic needs like food and shelter, but also ‘higher’ needs like fulfilling personal potential.
Our research concurs with the quote above from Accenture – there is certainly a focus on basic needs like personal health, financial security, and the wellbeing of family and friends. Meanwhile, things like career accomplishments and spirituality sit far further down the list of things consumers are most concerned about right now.