The pandemic, along with its economic repercussions, forced people to postpone weddings, significant purchases, family reunions, and international adventures. Now that society has reopened, we asked 5,400 American consumers how they expected to resume planning for “big life moments” — the milestone events that mark our lives. Just over half of those surveyed said they are likely to participate in a big life moment in the next two years. So how can brands show up for people when they’re making important decisions? We found four pathways to meeting customer needs.
1. Be agile
The pandemic isn’t over just yet and economic indicators are full of mixed signals. Uncertainty is still prevalent, and that uncertainty affects brands and shoppers alike. Developing agile business strategies for people can give them peace of mind. For instance, with searches for “travel rules” growing globally by over 600% year over year, several airlines and hospitality brands have begun offering stress-free change and cancellation policies.
2. Drive digital
As people sheltered in place, the internet became more important than ever. On average, 59% of those who emerged from a life moment in the past year say they expect businesses to offer digital options for “most or everything.” Enabling people to evaluate options online is a critical strategy for brands and retailers. Automakers, for example, now allow shoppers to compare models and features on their sites, and even design their ideal cars with interactive web experiences.
3. Offer services
Big life moment decisions are rarely rushed. In fact, 39% are planned over six months in advance. So brands can’t simply rely on being present. They need to deliver value, like providing people with actual tools to help them make their decisions with more confidence. Many financial institutions have adapted by providing real-time financial insights and calculators. Searches for “calculator for home loan” have grown globally by over 200% year over year.
4. Act ethically
The pandemic, and other health risks, are still with us, and health and safety protocols continue to be important. People have varying levels of comfort with reopening and will shop in ways that best align with their personal values. Brands must proactively bolster initiatives that give cautious customers the support they need while making them feel valued.
