As the world has locked down to combat the dreaded pandemic, it has done so in conjunction with a massive drop in consumer spending. In fact, over the past few months take up of common household goods have dropped by 22%. This is a particularly concerning finding as it suggests potential market penetration for brands aiming for high levels of growth. This year's global consumer sentiment index has been a rollercoaster: we saw one of the lowest levels ever recorded, while the second quarter of 2020 was actually the most optimistic period in history – and we’re expecting another downward shift in 2021. With that said, things are starting to look up for the rest of 2020 – here are all 5 consumer trends you need to know, to help you plan your marketing strategy for the rest of 2020 and beyond.
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