“Focusing on customer concerns can help you identify the issues you need to tackle, as well as flag potential crises points,” noted Talkwalker in its recent COVID-19 market report.
For the CPG industry, a few noticeable trends have emerged around financial health and stability, social issues, and the safety of their products as well as signs that consumers are finally starting to discuss their shopping habits and preferences beyond the pandemic.
Budgeting and food self-sufficiency
The widespread economic impact of the pandemic has increased people’s concern about their financial stability, which Talkwalker predicts will lead to an increase in consumers budgeting more effectively, and focusing more on essential goods and services.
According to Talkwalker, views of recipe and cooking videos increased 45% at the beginning of the pandemic compared to same time period last year.
Talkwalker’s analytics of online conversations found that consumers are also switching to more self-sufficient means of acquiring their food such as growing their own fruit and vegetables, and learning how to make hard-to-find products.
Online searches for items including breadmakers, starter cultures, pasta makers, homebrewing and winemaking kits grew by more than 100% since last year, reported Talkwalker.
Price gouging of essential goods was a primary financial concern for consumers at the beginning of the pandemic in March but has subsided in recent months.
“But people are more aware of the issue, so future price adjustments should be done cautiously to avoid accusations of profiteering from the crisis,” noted Talkwalker.
Meat industry takes a hit in consumer sentiment
One category that may take a while to recover in terms of consumer attitudes is the meatpacking industry, according to Talkwalker, which has been hit by factory closures and concerns over plant workers' health and safety.
“Overall, the meatpacking industry took a hit during the crisis,” noted Talkwalker.
A culmination of issues that took place over the past several months such as employee health and safety concerns, product shortages, and product contamination (as some consumers were concerned that the issue may have caused products to be contaminated, and therefore unsafe to eat) have hindered the category.
And while consumer sentiment has improved slightly in recent weeks, the impact of these issues will continue to plague the meatpacking industry, according to Talkwalker.
“Expect the meatpacking industry to still be facing issues in the coming months."
‘The crisis no longer dominates conversations'
While more immediate consumer habits such as comfort eating and DIY cooking have dominated food-related conversations in recent months, conversations are starting to shift away from pandemic-induced behaviors and habits.
“The crisis is no longer dominating conversations, but instead demographics are reverting to the core issues they care about (e.g. sustainability, health & wellness). They’re thinking beyond the now and towards future impacts again,” noted Talkwalker.
“These are both signs that we’re slowly returning to a new normal. The crisis is no longer dominating conversations, but instead demographics are reverting to the core issues they care about. They’re thinking beyond the now and towards future impacts again.”