People have been more conscious about how and where they spend their hard-earned money during the quarantine. Pre-pandemic, consumers would select items based on quality, price, then brand. But now they are more concerned about availability, price, then quality. Find out which products they have been prioritizing in these frugal times.
Cleaning and Hygiene Products
The pandemic has seen a spike in the sales of cleaning and hygiene products. Soap, alcohol, disinfectants, and even toilet paper were flying off the shelves in hopes of reducing the risk of getting infected. Celine Pannuti, Head of European Staples and Beverages Research at J.P. Morgan predicts these products will still be a top priority for all households for quite some time to come.
Vitamins and Supplements
As expected, vitamins and supplements were next on the list of people’s most purchased items in the year. They are an essential item, especially now that consumers became more health-conscious. Reckitt Benckiser – a company focused on health, hygiene, and home – reported a 50% increase in sales in the first half of the year and has continued to grow in numbers.
Salons were one of the establishments that were greatly affected during the pandemic. Because they were a non-essential business and involved close contact with customers, they had to suspend operations. This situation prompted people to take matters into their own hands and dye their hair at home. However, sales for other cosmetic products plummeted by 13-14% according to L’Oréal.
Major coffee companies like Nestlé and Starbucks saw the numbers grow substantially. The temporary closure of restaurants and cafes and work-from-home setups were cause for this commodity to be in-demand. The findings in a survey conducted by Commerce Next show that 54% of their respondents will continue to cook meals at home, even post-pandemic.
Pannuti notes that most of these transactions were done online and that consumers will still prefer this way of shopping even as quarantine restrictions ease up.