As much as we would all love to come back in January, that won’t happen. In January, I went to the cinema, mall and restaurant. Now all of these hobbies are in jeopardy. It’s not clear if the restaurants I loved will still be in business, if a mall is more of a viable way to shop, and if we’ll all be going to the movies or if we’ll be waiting at home on a Friday night that new movies are coming. TV.
This sudden change in our lives caused by the coronavirus is unprecedented. The last time I can remember a similar change was after September 11, but it only lasted a few months.
It is clear, however, that this crisis is different. It is likely that this crisis will lead to lasting changes. These changes are also opportunities for advertising to come together and show that brands understand how we live and work and how they can improve it.
Here are various likely long-term changes that the advertising industry has not yet adopted or considered:
The sudden and extreme growth of working from home. End of June, approximately 42 percent of workers do their work from home. Another 33 percent do not work and 26 percent work on site. The people who work from home are our bourgeoisie today, the people who are likely to skip for a movie or a meal that they see advertised. One of the few brands to address this new cohort is Progressive
People are at their computers, have been working for decades, but most haven’t worked from home. There is a level of freedom and responsibility that makes working from home a worthy target for advertising.
Reduced vacations. The coronavirus prompted us to forgo European holidays this summer. (We might not be welcome there anyway.) Given the risk of displacement, most are plan road trips this summer. No advertiser has yet grasped the evolution of consumers’ plans. Yet Sherwin-Williams
Restaurants on hold. Though there is reports that people return to the restaurant, it is a precarious situation because the public opinion can quickly turn. Over the past few months, most people have had to reduce their use of restaurants. This will lead to pent-up demand, but also some consumers, especially those who have lost their jobs, will choose to go out less and cook at home. For restaurateurs, it’s still a lot to ask consumers to trust you during this time.
When it comes to ignition demand, the way forward is complicated. Ideally, businesses will take their time trying to push consumers back. But the desperate situation many find themselves in can make this impossible.
In all likelihood, it will take years to overcome this setback. A CNBC poll of the best CEOs valued that it will take at least until the end of 2021 for things to return to normal. Marketers may want to adjust their mindset to think in terms of years rather than quarters.