One question from the live discussion of the seminar was “Would you recommend businesses to be more proactive now and try to lead the way? Or should they slow down and wait to see what happens?”
“I think that those who are proactive are always leading the development as well”, said Magnus Ohlsson. He believes this a good time to act, using the momentum from the crisis and the behaviours we already see. “I haven't seen any study that shows that wait and see is the most successful strategy at any time”, he concluded.
And the fact that a new behaviour has been formed also means that there has to happen something new before a new change comes, Magnus advised.
Another question was: “If you would work for, for example a chain of supermarkets, would you increase your ad spending right now to fight for your home market or would you lay low and wait for better times?”
Many supermarkets have so far been one of the winners, gaining from the pandemics, because people shop more food and home supplies when spending more time at home. At the same time, a position at an out-of-city shopping center may have lead to losing ground, because people are travelling a lot less to and from work.
“I think it doesn't matter if you're one of the winners or the losers in this, you should always invest in markets and try to at least maintain your share of voice”, said Magnus. “This is very well researched. Looking into previous recessions, you could look into data and see that those who have invested and continued to invest, both went back to where their growing curve started faster, and were growing much longer, than the ones that had tried to save during the recession and cut costs.”
We at Holmen Paper interpret that as an incitement for retailers to embrace change and act now. Set up new, bold strategies for marketing communication. Don’t forget to be visible by communicating in the areas in the closest vicinity of your stores. When people work from home, you can also reach them at home, with direct marketing and print combined with digital media.
The organisation Two Sides reports that Covid-19 has changed consumer reading preferences, with more people now consuming news and content on digital devices. The exception is that consumers still prefer to read books in print, 57%. At the same time, 49% of the consumers say that they spend ‘too long’ on digital devices. Around 65% of consumers say they are either more likely to act based on print or direct mail ads or are neutral on the issue, and the same percentage holds true related to trusting print ads and direct mail.
Brand building vs sales activation, media and channel strategies. How can you grow market shares?Watch seminar 1
Drawing up the next new normal retail landscape. We tap into the minds of the decision-makers.Watch seminar 2
We show and discuss different winning and losing strategies in these times of transformation.Watch seminar 3