COVID-19 Induced Behaviour: Food and Skin Care Businesses
Delivered March 23, 2020. Contributor: Emmanuel A.
Goals
To find information regarding new and/or predicted behaviour of consumers and opportunities for businesses in the food (grocery, food delivery, food apps, healthy food, snack foods)
and health and beauty (skin care and cosmetics)
business categories as a result of COVID-19.
Early Findings
Food Business
Consumer Behaviour
- IMI, a marketing consultancy firm released a study which showed that as a result of coronavirus, within the next three months, 16% of Canadians would less likely visit a shopping mall, 9% would reduce how often they visit a grocery store.
- 14% of Canadians would reduce restaurant usage for lunch while half of that would reduce the usage of restaurant for breakfast, and dinner.
- More Canadians are depending on grocery delivery services as they practice social distancing.
Business Responses
- Grocery stores in Canada usually replenish their stock of fresh goods several times a week while non-perishables are restocked from once weekly to once monthly. But they are now accelerating the delivery of goods and replenishing their stock as needed.
- Some local retailers like Bakery Warkworth, which used to rely on walk-in customers and word of mouth are suddenly beginning to reinvent themselves as takeout-only operations due to coronavirus. Bakery Warkworth had to close its Ontario store.
Proposed next steps:
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We propose continued research to find additional 5-7 insights on the new and/or predicted behaviour in the food (grocery, food delivery, food apps, healthy food, snack foods) and health and beauty (skin care and cosmetics) business categories in Canada as a result of COVID-19. We would include information on changes in consumer behaviour, potential opportunities for businesses, and anticipated permanent changes for businesses.
We also propose research to find 2-3 case studies of what companies in the food (grocery, food delivery, food apps, healthy food, snack foods) and health and beauty (skin care and cosmetics) business categories are doing to combat revenue loss as a result of COVID-19. This would include both Canadian and global case studies.
We also recommend research to find 2-3 post-COVID-19 trends in the food (grocery, food delivery, food apps, healthy food, snack foods) and health and beauty (skin care and cosmetics) business categories in Canada. This would include information on what the trend is, why it is a trend, and examples of companies driving the trend.