Uncertain times like these make us stop in our tracks and rethink everything we do. For many companies and brands, it has become even harder to plan for the future. What do consumers want now and how will things change once the COVID-19 crisis is resolved? Everything has changed and it seems whatever brands had in mind has gone out the window.
Or has it?
The brilliant minds behind Mintel Consulting are tasked with making sense of the consumer reality around us and applying these insights to our clients’ businesses. They advise clients on where to play and how to win, and that remains their focus today, no matter the current reality. Wherever our client is, whatever success looks like to them, Mintel consultants keep them informed on what is happening next so they will have the confidence to implement change in these uncertain times.
To give you a little insight into the process, they’ve identified three key phases that our client’s business will most likely go through during the COVID-19 pandemic:
1/ Survive
Setting your priorities has never been more crucial and you need to understand where your key strengths and opportunities lie so you can make the effective changes your business needs now.
The questions you’re probably asking:
- What are consumers experiencing and thinking at the moment?
- How is the retail environment responding?
- Where can I get inspiration from?
2/ Revive
You might have doubts about the plans you have spent months developing and feel the need to revisit them. Adapting your strategy confidently now will help you emerge from this crisis stronger, and you need to make an informed decision on which plans to delay, change, or cancel altogether.
The questions you’re probably asking:
- Which trends are likely to be accelerated and which ones will fade into the background?
- What impact will this have on my industry and how is consumer behaviour shifting as a result?
- What are the learnings from previous crises that we should take into account now?
3/ Thrive
In the chaos of a crisis, many things change on a macro-level, which will unlock new consumer needs. Innovating in uncertain times can be difficult and you need to implement a holistic vision to take your business to the next level to sustain growth in the future.
The questions you’re probably asking:
- How can I accelerate my innovation based on the current shifts in society?
- What will consumers want in the future and why?
- How can I unlock new ways to meet evolving consumer needs?
Mintel Consulting has unlocked new ways to help our clients adapt and navigate in these uncertain times – everything from online workshops to bespoke insights sessions. Ask yourself what phase is my business navigating today and how is it going. Then get in touch.
From market assessment to landscape analysis, Mintel Consulting delivers a fresh viewpoint supported by rigorous data on brand, innovation, strategy and consumer insight.
