Brands candidly ask for financial support from consumers amid COVID-19
Trend - The COVID-19 pandemic has impacted businesses spanning all industries and many are struggling to remain afloat with current social distancing regulations. As a result, smaller brands are reaching out to consumers to ask for financial support during these uncertain times with initiatives like discounted travel vouchers to use post-pandemic and prepaid products without fixed delivery dates.
Insight - Both consumers and brands are preparing for a different world after the COVID-19 pandemic and the reality that many small-to-medium-sized businesses may not survive is not lost to consumers. Due to a sense of community and compassion, many consumers are looking for ways to support these small businesses through this hardship and are willing to sacrifice the instant gratification of receiving a product or service for the greater good of the local economy. This empowers consumers to feel like they are giving back during and helping their community—a sentiment many lean into during uncertain times.
Insight - Both consumers and brands are preparing for a different world after the COVID-19 pandemic and the reality that many small-to-medium-sized businesses may not survive is not lost to consumers. Due to a sense of community and compassion, many consumers are looking for ways to support these small businesses through this hardship and are willing to sacrifice the instant gratification of receiving a product or service for the greater good of the local economy. This empowers consumers to feel like they are giving back during and helping their community—a sentiment many lean into during uncertain times.
Workshop Question - How can your brand use authenticity to reach consumers during times of chaos?
Trend Themes
1. Pre-paid Products - Smaller brands are offering pre-paid products without fixed delivery dates to ask for financial support from consumers amid COVID-19
2. Discounted Travel Vouchers - Travel agencies are offering discounted travel vouchers to use post-pandemic to help support the tourism sector
3. Newspaper-branded Customer Support Ads - Newspapers are creating branded ads to ask customers for financial support during the COVID-19 pandemic
Industry Implications
1. Hospitality Industry - The hospitality industry can offer discounted travel vouchers to customers to help sustain tourism during the pandemic
2. Retail Industry - The retail industry can offer pre-paid products to ask for financial support amidst the COVID-19 pandemic
3. Media Industry - The media industry can create branded ads to ask for customer support during the pandemic
