Change in a post-pandemic world

Since the beginning of 2020, all our decisions and actions have been driven by a subconscious knowing that we are on the verge of a paradigm shift. We were prepared for something but few of us knew that change was going to be forced by a global pandemic that spread at an alarming rate.   

The world, however is not simply in a process of “change”, it has changed.  And it is not going back.

 

The Coronavirus C-19, certainly caught many by surprise and was seen as a curve ball for Economists.  The world was already in a state of flux, politically and economically, making it hard to predict what the future held.  Continued advancements in the technology sector directly impacted the way people were living their lives. The forced changes in economic behaviour as a result of the pandemic have further accelerated these shifts in technology.  As a result, many of the old rules on consumer behaviour and trends will no longer be applicable. We will learn to expect the unexpected at any moment and many new ideas will emerge as we constantly make contingency plans.

 

To what extent the changes forced by the pandemic will affect us will become clearer over time.  The biggest surprise will perhaps come from changes in attitudes and behaviours as people continue to adapt their lives - not just to the inevitable economic shifts but to their new way of ‘being’ having reframed their values and goals for living.

 

Of course, there have always been big changes and shifts as new ways of doing things emerge.  There have been many ‘renaissance’ periods with new trends in fashion and new movements in literature, film and art.  However, the change we have undergone in 2020 is the biggest shift not just socially, politically and economically but in both our attitudes and interactions.  As our lifestyles shift so do our needs. The economic trauma that will likely be caused by the pandemic is an opportunity for us to rethink our relationship with goods and services and re-evaluate what we consider as a priority.

 

Collectively, we are starting to shift from our consumer-driven world as we become gradually. attuned to needing and consuming less. Lifestyles have changed. We no longer have structured working lives as working from home is common place, altering our needs as consumers.   Simultaneously, we have developed an increasing distrust of authority – not just of governments and banks but of other corporations, particularly related to the media, which has lost its influence over consumers.

 

The biggest change, however is in our social interactions and the way we communicate.

 

If we tune out from the noise of the Covid-19 pandemic and into what is going on around us, we can begin to notice the shifts.  We are becoming more “open minded”, more open to change and more focused on creating a better world for everyone.

 

Beyond the obvious, what this means for the future is a shift in priorities - less travel, less need for acquiring superfluous items and a greater focus on health & wellbeing, education, the environment and creating communities of like-minded people.   Businesses and brands need to stay tuned to the changes and the shift towards new patterns.  

 

Preparing to engage with a different kind of consumer with a different set of values requires strategic consideration and careful communication.

 

 

 

 

 

Previous
Previous

Investment spending

Next
Next

The future for the luxury sector