The pandemic has changed the way businesses operate. Fast-moving consumer goods (FMCG) companies found opportunities in this crisis as they were forced to pay attention to both volume and profit growth, Here are a few things that we can learn from how the FMCG sector dealt with the pandemic.
Understanding The Market Sentiment
The pandemic brought a lot of uncertainties with it. Consumers were forced to shop online due to stay-at-home mandates and lockdowns. This resulted in a wave of panic, and people started hoarding essential items, resulting in stockouts in retail stores. The FMCG sector couldn’t cater to the rising demand, so they decided to understand consumers’ fears.
The lesson learned here is that the first step in dealing with this changing consumer market is understanding customer behavior and their fears, and building a customized strategy to address these fears.
Communicating With The Customers
Once you’ve understood customer fears, try to communicate with them. During the pandemic, FMCG companies ensured consumers about their business operations and that they’re doing everything in their power to provide them with the essentials.
Hearing directly from the companies eased customer concerns. So the lesson you can take here is to prioritize customer satisfaction and vocalize how you’ll solve customer concerns with a thought-out strategy. Listen to them and let them know that they are heard.
Engage In Community Service Activities
Amidst the raging pandemic, people appreciated brands who played their part in community service.
FMCG brands helped the society by donating or educating the masses. The pandemic emphasized the importance of human values, and by working towards a cause, brands established a positive image in the consumer’s minds.
Therefore, analyze the situation, find out how you can be of help, and play your part in serving the community.
Becoming A Role Model
Brands are role models for their audience, as their customers expect them to set the trends. FMCG brands educate people about the importance of social distancing by following it in their own space and advertising it.
The lesson we can learn here is that of showing responsibility. You should understand the impact you have on society as a brand and measure the results of your actions.
Remember to always react to a situation after analyzing it. Do not take sudden actions without a plan. You can learn more about the FMCG sector, their social media marketing, or the cost of business by heading to our website Manal Haddad. Learn about business, leadership, and so much more!
