CONSUMER BEHAVIORS ARE CHANGING

Our customers and prospects are changing. The following are a few of the very visible changes that are occurring:

• Approximately 15 percent of US consumers tried grocery delivery. The interesting result is that 80% of those liked the experience and plan on continuing even after the pandemic. This is a trend that is growing, not just in the grocery delivery field, but across all consumer goods, even cars.
• The US online fitness market has seen approximately 50 percent growth since February of this year.
• Beyond Meat, for instance, was already benefiting from delays in meat production in the early days of the COVID-19 crisis: its sales more than doubled between the first and second quarters of 2020.
• The COVID-19 crisis has spurred consumers to become more health oriented. (one of our BizQuack members is very involved in helping a new vitamin supplement start a nationwide campaign in September)
• Working from home has proved to be very beneficial for both employees and employers. I see this as a continuing trend even after the Covid pandemic disappears. This will have a major effect on commercial office space.
• Zoom and other online communication formats are here to stay.
• Online purchases of any kind; consider Amazon, and other large retailers that have moved to online sales.

These are only a few of the more visible, what I consider, permanent changes. In each of these areas we will have to see how we can insert our products and services to benefit our customers.

There are many other more subtle changes occurring in the way all of our prospects and customers are conducting their lives. Our job, is to find out what these changes are and then change our products/service, our delivery methods and our communication methods to align ourselves with these changes.

My purpose today is to encourage you to focus on the changes that have already occurred. I believe that everyone has changed in some way and will continue to do so in the future. Growth is dependent on your knowledge of existing changes and the anticipation of future changes. It is also dependent upon your willingness to change.