The past year has brought social issues to the forefront, with people voicing their opinions and taking strong stands more openly especially on various social media platforms. Consumers are now actively looking at the ‘social consciousness’ of brands and the values that they stand behind. In a research
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1. Holding Brands to Higher Standards
conducted by McKinsey, 61% of the participants claimed that how a brand responds during a crisis will ascertain if they will continue buying it when the crisis is over.Consumers are now looking at brands to take strong stands on social issues and back them up with stronger actions. Brands that are socially conscious and responsible are likely to gain
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1. Holding Brands to Higher Standards
the trust of the consumer faster and consequently see a rise in their brand value.
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2. The growth of e-commerce brands
With physical stores closing and consumers trying to avoid crowded stores, e-commerce saw significant growth. Leading e-commerce giants anticipate a permanent shift in consumer behaviour, moving toward online or omnichannel shopping platforms. However, brands that are transitioning into the e-commerce space for the first time should do so with
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2. The growth of e-commerce brands
due consideration to various fundamental aspects like pricing, packaging, delivery timelines etc.
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3. Focus on Sustainability
Since the pandemic, consumers have become more aware of the products they use and their impact on individuals and the environment. As a result, there’s been a rise in small sustainable businesses that are attracting customers more than big brands, with the latter now having to actively work on making their products more sustainable.
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3. Focus on Sustainability
For example, beauty and skincare brands have to make a conscious effort to make cruelty-free products. The food industry has also seen veganism and vegetarianism on on the rise so they have had to adapt in certain ways and have had to promote sustainable eating habits. This trend is going to have significant impact on brand strategies in 2022.
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4. Focus on Building Communities
The pandemic forced individuals to come together as a community and help each other out in difficult times. Brands should adapt their marketing strategies to this shift in the sensibilities of the consumers by taking a more grassroot approach to communication as well as by localizing the brand experience. Brands that focus on
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4. Focus on Building Communities
supporting and nurturing communities in times of crisis will not only stand out from their competitors but also gain customer loyalty and trust.
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5. Partnerships and Collaborations
Forward-looking businesses recognize that successfully navigating 2022 and beyond will require new marketing strategies like brand partnerships and brand licensing that they may not have considered previously. For example, several brands are partnering with other like-minded brands to help those who are in need during these difficult times.
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5. Partnerships and Collaborations
Several brands are also venturing into brand licensing as a way to launch new product categories not just to overcome the economic downturn but also to amplify the brand loyalty and trust among their consumers. However, to reap the benefits of brand licensing, brands must ensure that they choose their licensee partners thoughtfully
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5. Partnerships and Collaborations
and extend all support and guidance to them.
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6. Focus on Content
During the pandemic, the biggest challenge for brands has been to cope with fast-changing consumer behaviour, requiring them to adapt their communication strategies just as quickly.
However, any change in the messaging and the creative concept can create a huge impact on a brand, leading to an increase or reduction in its
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6. Focus on Content
brand value in an instant. In 2022, it will be especially crucial for brands to determine what kind of content they are putting out and through what channels is the the information reaching the consumers.
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7. Innovation is Key
Many brands are leveraging technology and incorporating online business models to survive in this pandemic-hit economy, something they didn’t have to think about earlier. For example, museums and art galleries are now booking 360 virtual reality tours of their displays and shows.
The pandemic has led to a fundamental shift in consumer
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7. Innovation is Key
behaviour, causing businesses to make continuous innovation a key strategy in order to adapt to the new normal in which working from home, online shopping, social and environmental consciousness, etc. have taken the centre stage.