Brand manufacturers and retailers will have to work together in response to long-lasting shifts in consumer behavior produced by COVID-19. Over the past several months, we’ve all experienced our share of drive-by graduation celebrations, quiet anniversaries spent snuggling on the couch, improvised at-home kids’ birthday celebrations, and backyard weddings with the bare-minimum guests. COVID-19 has forced us to reinvent how we mark special occasions, in ways that are hyperlocal — many so local that they don’t even extend past our front door. And as spending shifts to at-home activities, people are also being more frugalPDF in response to the economic impact of the pandemic. These trends are likely to persist well beyond the reopening of the economy, as safety concerns linger, companies take a fresh look at their workforce strategy and allow employees to continue working from home, and the economic shock reverberates. Read more…
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