Brands and businesses, medium and small, are struggling to cope with the ‘New Normal’. Readjusting their strategy and operations to stay afloat in these tough times is taxing for any business but is especially so for small and medium businesses.
At such troubled times, cognizance of the shifts in the consumer behavior can help businesses realign their strategy to effectively deal with the new challenges.
BrightEdge has some insights into the latest consumer behavior trends that can help businesses rethink a strategy for the coming times.
The SEO Solution Provider identified four key impact types along with different business segments that fall under each of these. The report also talks about the top-trending niche. Take a look…
Impact Areas and Industries Affected by Them
|Impact Areas||Industries Affected|
This category saw a dip in demand but is now recovering
These products/services experience a high demand normally. But during the lockdown, it has seen an increase of up to 200% in demand.
Services/products that were suddenly in demand at the onset of the pandemic, but are now stabilizing constitute this category.
This business segment was worst hit by the global changes but is now readjusting to adapt to the new situation.
According to BrightEdge Research, some niches are trending. These include,
- Media streaming and gaming, particularly on weekends
- Gardening and patio are trending at 200% above normal spring highs
- Sports-related searches crashed but are beginning to speed up
- Cycling, training and stationary bikes were in demand but, are now giving way to bicycling
- Concerts, conferences, and events saw a major downtime but are reacclimating to the new trends
- Travel and Hotel Searches were almost down to zero but, are gradually rebounding
- Restaurant search volume dropped by 50% but is rebounding as customers adjust to takeout, and curbside pickup.
As is evident, the contactless delivery is much higher than the curbside takeout. This is even more true during weekends.
Thus, restaurants must now optimize for their local area and be ready for weekend demand peaks.
- Interest in grocery peaked initially but is now relaxing to a new level that is much higher than the pre-COVID levels
- Health and Hygiene products continue to show an increasing trend in demand
- Finance related searches have also seen a surge with 401K, retirement accounts, and stocks and investment queries seeing a renewed interest.
If you are a business owner sailing through these challenging times, a realignment of your business strategy can help you cope with the new changes.
With a greater number of customers turning towards online channels, marketing, and sale of goods and services online with the help of digital marketing may become the new norm for some years to come.
It is thus important that businesses understand and adapt to these changes to deal with the enormous changes facing the economies to not just stay afloat but to stay profitable in the new world order.