On 11 March 2020, the WHO declared COVID-19 a global pandemic. The repercussions of this outbreak radically set whole nations into a state of unprecedented changes. Inevitably, a significant shift in consumer behavior was observed during this pandemic. With social distancing and lockdown policies implemented in various parts of the world, consumers are rapidly shifting to digital activities such as online shopping and home streaming.
Staying Connected To Customers During The COVID-19 Period
Consumer Behavior In Response To The COVID-19 Pandemic
The uncertainties arising out of COVID-19 saw social media abuzz with unprecedented consumer behavior. This includes the unspeakable panic-buying and hoarding of essential goods such as toilet rolls and bread, frantic searches for financial planning or insurance products and constant spreading of anecdotal accounts of the coronavirus.
A set of logical fallacies and cognitive biases may account for such irregular behavioral patterns during the pandemic.
Consumer Behavior (Behavioral Science)
This is best illustrated by the scores of videos readily shared on social media showing consumers frantically rushing supermarkets to get toilet rolls, bread and other essentials.
For instance, massive media coverage on the origins of the coronavirus sparked prejudices that led to the discrimination of specific groups of people.
False cause works when people assume that the higher number of virus-related deaths amongst older people means that children are immune to COVID-19.
To further understand the changes seen on the digital landscape, we conducted an analysis of our various clients’ ongoing campaign data as well as their social media content before & during the government-mandated Movement Control Order period. Our findings:
How Social Media Advertisements Are Doing
Social Media Guide for Businesses (COVID-19 Edition)
As changes in consumer behavior are becoming more evident during this pandemic, businesses should rethink and reframe their short and long term strategies if they wish to survive, let alone thrive in this time.
We’ve put together a guide that we hope might give you some inspiration for your business during this time.
Stay safe, we will get through this together.