So Your Customers Tried a Competitor During Quarantine—What Now?
Loyalty’s up for grabs, but savvy brands can regain lost ground
Customers are trying new brands at a time when at-home consumption is up overall.
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Key insights:
- Challenger brands have an opportunity to steal market share if they can adapt products and services.
- Big brands should rethink their media buys and target consumers higher in the funnel.
- The increase in at-home consumption translates to wins for CPG brands everywhere.
As U.S. consumers transitioned from the panic-buying to hoarding phases of product acquisition during the coronavirus pandemic, longstanding consumer habits and brand loyalty took a backseat to availability and circumstance.
