Boston Consulting Group (BCG) and Snapchat surveyed Gen Z and Millennial consumers from the U.S., Canada, U.K, and France to learn how their behaviors and spending are changing during the coronavirus pandemic and which of these changes are likely to stick.
The results find that Gen Z and Millennials will continue to focus spending on essentials, at-home entertainment, and health & wellness once we return to the new normal. The shift to online shopping and off-premises dining with stay as well.
To reach this market post-COVID, BCG recommends brands:
- Focus on digital and mobile channels
- Revamp communications strategies and messaging to convey a brand’s values and value proposition to consumers in the context of the present day
- Add new capabilities to your arsenal.