As society changes so will your marketing plan

In assessing the behavioral changes following from the current crisis that will impact marketing, we must lay out our assumptions regarding the path forward for the virus and societies around the world alongside our expectations for the evolution of the economy.
In general, we can assume that while containment efforts will generally be successful in most countries and that the phase of the crisis involving country-wide formal lockdowns will come to an end, risks of further outbreaks will persist until a vaccine is both discovered and widely distributed. As a result, while there will be a gradual and at least partial resumption of many pre-crisis behaviors over the course of the next year, a complete return of old social patterns will not occur any time soon. Because of the sudden shut-down and related disruptions in economic activity, we can also assume the economy is likely weak for the foreseeable future, with a disproportionate impact on workers in retail and hospitality sectors who tend to be lower income. Any concentration of negative outcomes among certain groups of people could exacerbate existing trends, which could play out in public policies related to populism, global trade and taxation among other issues. Read more…