Encouraging reports on the success rates of different COVID-19 vaccines notwithstanding, much of the world still faces a recession next year and brands will need to adapt accordingly – including reassessing what constitutes value for consumers.

  • Some consumers will trade down, others will focus on getting the greatest possible value – in terms of efficacy, quality and reliability – for their outlay.
  • A survey for WARC’s Marketer’s Toolkit 2021 finds that brand marketers are responding in a number of ways, including developing new product offerings to cater for post-pandemic consumer preferences (40%).
  • Other tactics involve focusing ad spend on specific product lines (33%), running price promotions and sales (30%), reducing product portfolio (21%) and altering pack sizes (20%).

Marketers are recommended to go ‘back to basics’ and evaluate all elements of their brand proposition to find a model that suits the post-pandemic consumer mindset.

Download a free copy of the Marketer’s Toolkit and plan your 2021.

Sourced from WARC