5 Hard Questions in response to Covid-19Written by Mark Artus
It’s time to ask ‘what next’… what does COVID- 19 mean for us, our brands, and our businesses?
Download our latest report here.
Predicting the future is a notoriously risky business but there is no doubt that disruptions such as this will lead to changes we did not think were possible. We do not know how many of us have been infected but we have certainly all been affected. The result will be an acceleration in long-term structural change – unlocking the potential to do things differently. Things which once couldn’t be done, we’ll find actually can be done - with imagination, adaptability and agility.
Within the FMCG, health & beauty industries, our biggest challenge will be in recognising the inevitable shifts that this seminal moment has created – and more specifically, which of those shifts are relevant to us. Having a clear purpose and set of guiding principles will be imperative for brands, as will be an understanding that our customers attitudes and behaviours may have changed irrevocably due to the experience of lockdown.
For those that know me I am an optimist (it helps!) but also a realist. We will get through this, but not without a subsequent recession that will force a short-term focus on price. In the long-term however, brands will need to focus on a new value equation to ensure success – and we need to start planning for ways to unlock this magic, now.
There is no doubt that now is the time to start asking the hard questions about your future and I hope our analysis may trigger some positive and exciting new thoughts.
In our latest report, we look at the risks and opportunities in the consumer goods industry as well as an in-depth exploration into the following 5 hard questions in response to Covid-19:
1) What will be the value of values?
2) Will wellbeing matter even more?
3) Must we re-map the path to purchase?
4) What channels will build relationships?
5) Will agencies return to business as usual?
Download your copy of the report here.