Are people returning to stores? What do consumers expect? What are - - PowerPoint PPT Presentation

▶
are people returning to stores
SMART_READER_LITE
LIVE PREVIEW

Are people returning to stores? What do consumers expect? What are - - PowerPoint PPT Presentation

Aug 30, 2022 210 likes •428 views

Are people returning to stores? What do consumers expect? What are we buying? What is MNs trajectory? What should you be thinking about? Factors leading to consumer spending Perception of Health Risk Product & Impulse Your COVID-19

slide-1
SLIDE 1
slide-2
SLIDE 2

Are people returning to stores? What do consumers expect? What are we buying? What is MN’s trajectory? What should you be thinking about?

slide-3
SLIDE 3
slide-4
SLIDE 4

Factors leading to consumer spending Perception of Health Risk Your COVID-19 Plan Product & Impulse

slide-5
SLIDE 5

Putting your plan* together:

  • Screening
  • Access
  • Face Covering + PPE
  • Enhanced Safety Measures
slide-6
SLIDE 6

❑ Yes, but slowly ❑ Yes, but smaller transactions ❑ Yes, but only to places they trust ❑ Yes, but not at pre-COVID levels ❑ Yes, and weather helps Are people returning to stores?

slide-7
SLIDE 7

❑ A long-term impact

  • Changes in routine
  • Personal $
  • Different store experience
  • Inconvenience

What do consumers expect?

slide-8
SLIDE 8

❑ Spending changes

  • More essentials
  • Shifts to household items
  • Less travel
  • Impacts on gas & restaurant
  • Changes in purchases

What do consumers expect?

slide-9
SLIDE 9

❑ Changes to online & digital

  • Subscriptions up
  • Generational changes
  • Curbside
  • Expectation of online options
  • Meetings and events

What do consumers expect?

slide-10
SLIDE 10

❑ “Homebody economy” shift

  • One-week planning moves to two

weeks

  • Space is valued – think malls
  • Youth sports

What do consumers expect?

slide-11
SLIDE 11

❑ Expectation: things are different

  • Reassurances expected
  • Medical endorsements
  • Visible safety precautions
  • Emphasis on cleaning

What do consumers expect?

slide-12
SLIDE 12

❑ 25% don’t expect to indoor dine through the end of the year ❑ 48% don’t expect to leisure travel

*Resonate research

What are we buying?

slide-13
SLIDE 13

❑ 106% increase in fashion ❑ 50% increase in computers/accessories ❑ 34% up in health and wellness ❑ 16% boost in home & garden *ViaBill research What are we buying?

slide-14
SLIDE 14

❑ Furniture ❑ Bikes ❑ Landscaping ❑ Home goods ❑ Food for home preparation What are Minnesotan’s buying?

slide-15
SLIDE 15

❑ Will vary by region ❑ Will be gradual ❑ We won’t know what retail looks like until post-holidays ❑ Shopping is social What is MN’s recovery trajectory?

slide-16
SLIDE 16

❑ Re-evaluate your products ❑ Integrate your COVID & marketing plans ❑ New communications plan ❑ Think ahead to the holidays What’s next?

slide-17
SLIDE 17

Things to think about:

  • Customers (loyal; returning)
  • Employees (returning; new)
  • Regulations
  • Perception
slide-18
SLIDE 18

Important areas to address:

  • Contactless (mapping)
  • Physical space
  • Least comfortable customer
  • Communications/marketing
slide-19
SLIDE 19
  • Prior Lake, MN
  • Owatonna, MN
  • Duluth, MN
  • Marketing plan
slide-20
SLIDE 20