Brand trust in the time of COVID-19
Brand trust in the time of COVID-19
By David Shum
Copywriter at ExpertVoice
December 8, 2020
COVID is changing the brand landscape.
At ExpertVoice, we think about brand trust and advocacy every day. The 400+ consumer brands we work with do, too. So we can’t help but zoom in on the distinct trends that are surfacing as a result of our strange times.
We recently hosted an online summit In October where Bain Capital presented intriguing data about how COVID-19 has already significantly impacted consumer buying. But way before they got to that part, we were struck by their timeline for the ongoing state of disruption:
The good news is that some of these timelines for a vaccine have improved since October. But generally the overall trends are similar to their earlier predictions
- A COVID peak in the fall/winter of 2020
- A solid vaccine in 2021
- Wide vaccine distribution before 2022
We have a long road ahead of us.
Consumers' buying patterns
are changing in a big way
E-commerce just experienced 4 years of growth in 4 months
Consumer loyalty is in flux –
and up for grabs
What does this all mean for your brand?
Bain’s advice is to align your brand with the “new laws of gravity” by doubling down on the consumer trends above. Considering that shoppers have less to spend and more anxiety about spending, Bain called their state of mind a “flight to trust.” Meaning: They’re increasingly looking for advice on what to buy, and not just from brands themselves, but fellow shoppers—and particularly people they trust. We’ll talk more about the skyrocketing importance of brand trust in our next newsletter.