Consumer behavior has undergone profound changes in 2020. Thanks to supply chain disruptions, the availability of beloved brands has been inconsistent, forcing consumers to purchase other items. Is the importance and marketing investment in brand loyalty now under question? E-commerce, already a growing trend, accelerated at warp speed due to safety concerns, and older generations have been key adopters. What does this mean for long-term viability of retail brick and mortar stores? Diversity and inclusion are now a mandate vs. a nice to have.
As a result, companies across all industries are rethinking their consumer experience (CX) strategies. Seamless e-commerce requires digitization. Innovating products that are relevant to today’s world builds brand loyalty. Investment in data and analytics means companies can better anticipate customer needs and deliver on experience.
The ARF presented five sessions at Advertising Week 2020 to explore these questions and strategies. Leaders from the travel, finance, retail and media industries shared how they are understanding and predicting consumer behavior and how they are adapting their CX plans in our new normal.