Some Lasting Consumer Mindset Shifts

January, 2021

 

Motourly is about emerging shifts that are happening around us, subsequent converging industries and the new lifestyles and business opportunities that result. Many interesting lifestyle and mindset shifts were already happening pre-COVID and I expect them to be more present in the future. For instance, ownership of once desired goods was being questioned because of on-demand availability and new access model and younger generations were putting a higher value on time spent in the outdoors.

But then we stopped getting on planes, going to in-person business meetings or restaurants or the gym. We stopped throwing and attending big in-person family gatherings or any group event for that matter. We stopped casually shopping or visiting others, or going to non-essential stores and most of us stopped going to a physical workplace. The events of the past year have caused many of our social and economic norms to change. Economic uncertainty, the changing dynamic of work and space, a political shift, social unrest and the shifting commentary and focus of brands are a few of these forces of changes. At some point vaccines will be widespread and our lives will go on with a lesser risk of COVID, but our society has been shaken at its core.

In many instances, our everyday thoughts, our feelings and our behaviors have shifted. For example, exposure to germs is now top of mind, economic uncertainty and the speed of recovery are pervasive thoughts and we are all doing more routine disinfecting and staying closer to home. I believe that the shifts of personal mindset and behavior that we are currently witnessing at scale will continue long into the future – and have a significant effect on the future of business and commerce. These new choices of lifestyle, consumption, movement and activities are affecting the products and services that serve them – from the architecture and city planning, to finances, to consumption, mobility and more.

Many say we cannot know and are not willing to predict what new trends or behaviors will persist post-COVID, but I am always willing to share an educated hypothesis. Many things may go back to the way they were pre-COVID, but there will be a persistence reflection of change and difference for a long time to come. What follows are some observations and trends (via a consumer’s point-of-view) that should be considered by businesses as they plan and strategize future products and services.

 

My Community & Friends

In the near-term, I plan to socialize in small groups instead of crowded clubs.

I have a very small social group with whom I interact with in-person, and the same goes for family. I will be more inclined to attend gatherings and events that are partially or wholly outside.

I have less desire to live in a mega-city (NY, CHI or SF) and more in a mid-tier city (Madison, Boise, Wilmington, NC or Sacramento). I may make less as a result, but that is OK.

I have or will move to be closer to family. My other priority is to live somewhere with a better cost of living.

The outdoors is good for me and my soul. It is a source of rejuvenation and freedom.

It’s easy and affordable to get a COVID test to make others feel more comfortable with my presence.

Doing things with others in-person will be more important than ever once the vaccination is wide-spread.

 

My Space, My Place & Movement

The necessity of personal travel, now and in the future, has increased due to being so still and isolated for so long. However, I do not plan to travel far from home in the near future.

It is clear that slowing down, making and traveling less is good for the environment, the Earth and maybe our futures.

A big part of my personal narrative and identity revolves around the outdoors.

I desire spontaneity and expect to find luxury goods and services with relative ease. Things like comfortable means of travel, comfortable gear, accommodations, activities and more.

I drive much less now. My car use to sit idle for 84% of the week, and now it sits idle for 95% of the week. I am questioning the need to own a car (as well as the insurance, parking and other services related to it).

There is always a new spin of on-demand vehicles or subscription access launching or shifting – either from startups, rental companies, manufacturers or others. Access to a vehicle via a single monthly payment that includes insurance, service, tax and repairs is starting to make more sense. Having a choice of vehicles is the luxury being sold.

I am confident that ride-sharing services will define new reliable protocols for sanitizing their vehicles after every individual ride. I am not as certain or confident about mass transit. Nonetheless, I will probably return to all of them due to convenience and cost and trust.

I may not be around masses of people again until all are vaccinated – and it is not clear when that will happen.

 

The Brands I Chose

I choose and interact with brands on my terms – sometimes online, sometimes in-stores, sometimes on the curb or in the parking lot only. Anytime for anything.

Home delivery has become my preferred means of interaction and access. E-commerce and online transactions of goods and services has reached new levels of efficiency and will largely sustain companies. A high level of convenience and reliability online will be the cost of entry.

Most importantly, the brands that I associate with display a concern for the environment, sustainability, social advocacy and are working towards emissions reduction and other ecological and climate positive actions. Caring, empathy and advocacy are required. They are transparent what’s working and what needs to get better to both customers, employees, consumers, partners, suppliers and investors.

The old big guards in many categories do not matter to me. They need to prove to me that they are authentic and caring in this modern world. Quality from all is high and many of the same factories manufacture everything in a category – from low-end brands to high-end.

I am willing to put my money where my beliefs are even if it means paying a little more. I am also willing to pay a little more for my preferred experience.

If a product is “connected”, then it ought to be providing updates, upgrades, refurbishing and have a different definition of longevity. Rarely do I purchase something (other than food) with an expiration or obsolescence.

I have lesser of a need to buy something “new”. I am comfortable with items that are used, refurbished and up-cycled.

Technological brands are still trying to sell me their operating system (for my phone, living room, car and elsewhere) and I expect these things to all work together.

 

My Work & Livelihood

My work no longer requires a company office and I do not plan to work full-time in an office ever again.

Some activities have become a little bit more difficult, but in general, I work harder, faster and more efficiently remotely. Working from home is viable, comfortable and desirable.

Deals do not need to be made in-person or sealed with a handshake. E-signatures and other electronic legal tools work just fine.

The necessity of business travel has diminished significantly. Most of my future business trips will be handled via an online call or session.

I do exercise in my home, online and/or virtually or in isolation. Occasionally I exercise with others in the outdoors.

 

The Person That I Choose To Be

I am making different choices now and putting more focus on what I feel to be important.

I find happiness in connections with others and lived experiences, versus consumption, ownership and accomplishments based on acquired stuff.

My definition of a vacation is simply time away. It may not involve physically relocating and may be centered on improving my current accommodations.

I am starting to reflect more on the collective than myself and that is affecting the decisions that I make.

My sense of value and success has also shifted.

I have moved beyond the infinite possibilities of material possession and extreme efficiency to rediscover and redefine myself.