The Covid-19 pandemic has transformed in many ways over almost the last 2 years. It also changes consumer behaviours towards FMCG (Fast-moving Consumer Goods) product, some trends have arisen directly out of pandemic like stockpiling behaviour and wellbeing issue, other than that Covid-19 has kickstarted many other new behaviours. Here are a few of particular note.
The competition within the FMCG industry is increasing and brands invest in Blockchain to gain a competitive edge. Blockchain allows FMCG to understand their supply chain bottleneck , make necessary interventions and build transparency for consumers by allowing them to track the source of their purchases. Blockchain platforms also can offer loyalty program that allow consumers to collect, exchange, and redeem points that can increase customer engagement.
- Direct To Consumers (DTC) Brand
As getting out to the supermarket became a risky and the street started shutting down, DTC might be the solution. This FMCG industry trend is closely associated with e-commerce growth as well as the penetration of smartphones and the internet. This increases their profit margin and offers consumers a direct channel to their favorite brands.
- Internet Of Things (IoT)
IoT has developed fast as more people are spending more time in their houses and want to provide their needs easily with connected devices. In combination with related emerging technologies including ambient intelligence and smart objects IoT creates new consumer interaction channels and revenue streams for FMCG brands.
- Artificial Intelligent
2021 has been called ‘The Year of The Chatbot’ as people stuck at their, screen time went up and e-commerce and social commerce skyrocketed. By implementing AI-based solutions, FMCG companies provide an enhanced customer experience thereby increasing customer satisfaction and retention.
- E-commerce, social commerce, and social media
The outbreak of the COVID-19 pandemic has further shifted consumers’ shopping habits towards online channels. Nowadays brands build their own social media to boost their engagement with consumers. Social media also plays a significant role in the world of e-commerce as more items are sold via social platforms such as Instagram.
Short video such as Snapchat, TikTok, YouTube shorts is the most exciting space in social media right now. Especially TikTok with their with their authenticity and focus on social issues rather than material goods, lifestyle and appearance make their content ofter cross over to viral on Twitter, Instagram, even WhatsApp group.
- Brands with purpose
The last year has given people too pause and reflect as everything changed people became more critical and conscious about what is important, valuable and non-negotiable. Thus, they pay more attention to companies value and sustainability. Consumer would prefer FMCG product that compostable, recyclable, and reusable. And brands that concern about climate and has good impact for environment and society.
- Customers Experience
Improving customer experience in FMCG industry is important to build trust and increase brand royalty. With the demand for convenience because of Covid-19 pandemic increasing in the FMCG sector, companies strive to significantly improve customer experiences.