COVID-19 Focus: Growing the Stay-at-Home Economy
Since the breakout of the Covid-19 pandemic, people have spent a bigger share of their time at home, which has fuelled the growth of the “Stay-at-Home economy.”
How has this trend impacted the retail landscape?
How will these new behaviours be re-shaped in the future when social restrictions become more relaxed? And how can businesses better prepare for the opportunities brought by these new developments?
At Asia Insight, we went beyond observed customer behaviours to study the underlying needs of consumers – Why do they do what they do?
How has the Stay-at-Home economy evolved, and how can your business tap on this?
Asia Insight was invited by Lazada to an exclusive interview, where we shared findings from our recent consumer surveys and focus groups.
Discover how the Stay-at-Home economy has evolved, and how businesses can tap on these changing trends.
Why are there changes in the Stay-at-Home economy and behaviour?
We share that many manifestations of what people buy, and how they choose to spend their time and money, are driven by fundamental human needs to optimise the following:
Me-Time
The need to spend quality time with oneself and for self-care.
We-Time
The need to grow family bonds and friendships with loved ones.
Escape-Time
The need to recharge amidst the stresses of work, parenting and home management.
What You Will Learn from This Video :
Changing Buying Behaviours
Which categories saw the largest online shopping growth post-pandemic?
Meeting of Basic Consumer Needs
The importance of aligning your strategy to meeting fundamental consumer needs.
A Hybrid ‘New Normal’
Consumers will embrace digital engagement, but not at the expense of the offline sensorial experiences.
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