Reverse Urbanization - Coronavirus (COVID-19) Consumer Behavior Impact

Reverse Urbanization - Coronavirus (COVID-19) Consumer Behavior Impact

Summary

Reverse Urbanization - Coronavirus (COVID-19) Consumer Behavior Impact identifies the structural changes taking place as a result of the COVID-19 pandemic. The public health emergency has challenged the need for offices and workspaces, leading to demand for a rural renaissance as people consider alternatives to dense urban living. Attitudes are changing as consumers place a greater emphasis on self-sufficiency, independence, and the local community.

Reverse urbanization is a concept of urban decline in favor of rural living. In light of the COVID-19 pandemic, surges in demand for suburban and rural living have spiked as remote working negates the need for physical office space. As the work-life balance changes, consumption behavior and occasions will also be impacted over the coming years.

Scope

• A significant number of consumers are buying more of certain products than they used to before the pandemic.
• Over three quarters of consumers prefer local products over those imported from overseas.
• In the short to medium term, foodservice will decrease in importance as consumers eat at home. The industry faces many challenges in adapting operations in favor of on-the-go and delivery options.

Reasons to Buy

• Understand the structural changes that are taking place in response to the coronavirus pandemic.
• Gain a broader understanding of how these changes in demand are impacting on FMCG both within and outside your sector.
• Access take-outs to help direct future decision-making towards a new normal in the post-COVID-19 world.