40% of consumers tried new brands or made purchases with a new retailer during the pandemic

New Ideas in MarketingEssential news for marketers, summarised by YouGov
August 26, 2020, 12:58 PM UTC

Periscope by McKinsey surveyed more than 2,500 consumers in the US, UK, France and Germany to understand changes in consumer behaviour.

Changing consumer behaviour has compelled retailers to re-imagine their trajectories, priorities and operating models. Consumers are embracing change, with 40% of them saying they tried new brands or a new retailer between March and June 2020.

The main reasons for consumers switching brands include competitive pricing and empathy towards their employees. Almost one-third of consumers in the US and France cited “caring” retailer or brand as a reason for switching brands.

Safety and hygiene were also two significant concerns for consumers while making purchases. More than 50% of respondents said they want stores to follow guidelines to help keep shoppers and employees safe. 59% of consumers also said stores should not be overcrowded.

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