Consumer Trends Shift As COVID-19 Creates Change
It’s crucial for marketers of all stripes to stay on top of consumer trends. The term trend does not refer to specific brands or styles that may be in vogue today, but rather underlying values that drive consumers toward certain products and services and away from others.
The acceleration of consumer mobility preferences have rapidly shifted as a result of the COVID-19 pandemic, according to a new Strategy& report.
The findings from their annual Digital Auto Report focus on how Connected, Automated, Smart Mobility and Electric strategies have had to be re-evaluated due to the pandemic.
As a result of shifting mobility modes, the survey findings reveal most consumers are hesitant to use shared transportation. Consumers prefer to use their own vehicle over shared mobility and public transportation as a result of COVID-19.
Shared mobility decreased the most in Germany with 77% of respondents intending to use less car sharing while the same holds true in both the United States and in China.
In both China and the United States, consumers prefer the use of their own vehicle, while in Germany, the increase of commuting in cars is still equal to commuting on both bike and foot.
Overall, seamless mobility solutions are still key for consumers.
Additionally, the total number of vehicles is expected to decrease in Europe and increase in both the United States and China until 2035. This is primarily due to mobility growth, consumer preferences for shared mobility and the average life of a vehicle until it is deposed.
Though mobility preferences are changing, shared mobility providers can take steps to win back consumers, such as regular cleaning and disinfection. Consumers shared that these things are more important than lower prices in light of the pandemic.
Safety and navigation rank the highest for consumers, followed closely by vehicle management and vehicle features as a service.
While connected services are important, the survey findings reveal that only consumers primarily in China are willing to pay for these services.
Gasoline continues to be the most preferred powertrain in both Germany and the United States. In China, 68% of consumers under the age of 40 prefer electric powertrains, while only 46% in Germany and 37% in the United States prefer electric powertrains.