No one fully understands the
long-term effect COVID-19 will
have on societies or regional
economies. But the impact it’s
having on brands is becoming
clearer by the day.
Customer behaviors have shifted
during the crisis and may not
revert to pre-pandemic norms.
McKinsey reports as many as 30%
to 40% of U.S. consumers have
switched brands or retailers, and
the majority intend to continue
their new shopping behavior. Many
switchers seek better prices, but
other motivators include product
availability, quality and purpose.
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