Cross Industries Transformative Mega Trends Shaping Post-COVID Consumer Behavior

New Customer Experiences Driven by Digitalization and Personalization Create Growth Opportunities

INDUSTRY
Macroeconomics

RELEASE DATE
30-Apr-2021
REGION
Global
DELIVERABLE TYPE
Megatrends

RESEARCH CODE
K5AB-01-00-00-00
SKU
CI00748-GL-MT_25409
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Transformative Mega Trends Shaping Post-COVID Consumer Behavior
Published on: 30-Apr-2021 | SKU: CI00748-GL-MT_25409

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COVID-19 has impacted the way we work, make purchases, and spend our free time. Some consumption patterns and behaviors will have a lasting impact on economies around the world. Frost & Sullivan has mapped 5 critical areas of influences that will shape consumer behavior.

• Home: The pandemic has compelled consumers to interact with technology, and embrace contactless technologies because of concerns
about health and hygiene. The home will be a center of work, entertainment, and wellness.

• Work: Workplace bonding has the potential to dissolve as many people continue to work from home and express reluctance to return to an
office. Employees will demand more visibility and transparency in this environment through digital collaboration. Talent pools will become
global.

• Healthcare: Many aspects of the healthcare journey will become inherently data-based. Consumers will demand control over their personal
health data to manage their health and wellness and make better-informed decisions.

• Leisure: Price-sensitive consumers are pivoting to marketplaces (e.g., Amazon) from individual brands. Targeted outreach will be a must in
spreading awareness about products and service to smaller audiences with similar values and traits on social platforms. Virtual entertainment
will be in demand.

• Mobility: Enabled by new connectivity technologies, cars will become points of health, wellness, and well-being with end-to-end, omnichannel
experiences. With an emphasis on health and safety, shared mobility will be on the decline.

Companies will have to reimagine customer experiences to cater to the new consumer through behavioral analytics for hyperpersonalization of the consumer journey; seamless interoperability among appliances, personal devices, and other products in the home regardless of brand; and healthcare consumerization and patient-centric models. Competitive intensity will hinge on disruptive technologies and innovative business models.

Why Is It Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Top Three Strategic Imperatives Driving Post-COVID-19 Pandemic Transformation

Growth Opportunities Fuel the Growth Pipeline Engine™

Key Takeaways

Post-COVID-19 Consumer Behavior Shifts

Post-COVID-19 Consumer Behavior Shifts (continued)

Home will Become the Hub of Health, Entertainment, and Work

Home will Become the Hub of Health, Entertainment, and Work (continued)

Reimagine Communication Boundaries to Fit Hybrid Work Settings

Reimagine Communication Boundaries to Fit Hybrid Work Settings (continued)

Virtual-first Approach to Healthcare Interactions

Virtual-first Approach to Healthcare Interactions (continued)

Consumer Spending Focusing on Value-driven Activities

Consumer Spending Focusing on Value-driven Activities (continued)

Emphasis on Health, Safety, and Reliability for Mobility

Emphasis on Health, Safety, and Reliability for Mobility (continued)

Shifts in Consumer Behavior Across 5 Key Areas

Personalization will be Key for the Post-pandemic Customer Experience Journey

Adapting to Post-pandemic Customer Experience Mindset

Infusing AI into the Retail Customer Experience for End-to-End Digitization

New Consumer Behavior will Influence Health and Wellness

New Consumer Behavior will Influence Retail

New Consumer Behavior will Influence Mobility

New Consumer Behavior will Influence Smart Cities

Growth Opportunity 1—Behavioral Analytics for Hyperpersonalization of the Consumer Journey

Growth Opportunity 1—Behavioral Analytics for Hyperpersonalization of the Consumer Journey (continued)

Growth Opportunity 2—Internet of Home

Growth Opportunity 2—Internet of Home (continued)

Growth Opportunity 3—Consumerization of Digital Mental Health Care

Growth Opportunity 3—Consumerization of Digital Mental Health Care (continued)

Critical Success Factors for Growth

Identifying Your Company’s Growth Zone

Your Next Steps

Why Frost, Why Now?

List of Exhibits

List of Exhibits (continued)

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COVID-19 has impacted the way we work, make purchases, and spend our free time. Some consumption patterns and behaviors will have a lasting impact on economies around the world. Frost & Sullivan has mapped 5 critical areas of influences that will shape consumer behavior. • Home: The pandemic has compelled consumers to interact with technology, and embrace contactless technologies because of concerns about health and hygiene. The home will be a center of work, entertainment, and wellness. • Work: Workplace bonding has the potential to dissolve as many people continue to work from home and express reluctance to return to an office. Employees will demand more visibility and transparency in this environment through digital collaboration. Talent pools will become global. • Healthcare: Many aspects of the healthcare journey will become inherently data-based. Consumers will demand control over their personal health data to manage their health and wellness and make better-informed decisions. • Leisure: Price-sensitive consumers are pivoting to marketplaces (e.g., Amazon) from individual brands. Targeted outreach will be a must in spreading awareness about products and service to smaller audiences with similar values and traits on social platforms. Virtual entertainment will be in demand. • Mobility: Enabled by new connectivity technologies, cars will become points of health, wellness, and well-being with end-to-end, omnichannel experiences. With an emphasis on health and safety, shared mobility will be on the decline. Companies will have to reimagine customer experiences to cater to the new consumer through behavioral analytics for hyperpersonalization of the consumer journey; seamless interoperability among appliances, personal devices, and other products in the home regardless of brand; and healthcare consumerization and patient-centric models. Competitive intensity will hinge on disruptive technologies and innovative business models.
More Information
Deliverable Type Megatrends
No Index No
Podcast No
Author Chaitanya Habib
Industries Cross Industries
WIP Number K5AB-01-00-00-00
Is Prebook No
GPS Codes 9A3B

Transformative Mega Trends Shaping Post-COVID Consumer Behavior

$4,950.00
In stock
SKU
CI00748-GL-MT_25409