IRI is monitoring COVID-19 and has released a new report, “Then and Now: Consumer and CPG Behavior During Economic Downturns,”  in which it looks at life in lockdown and explores what might be learned from past recessions.
 
The market research firm has two resources for brands: a COVID-19 Dashboard and the IRI COVID-19 Info Portal.
 
According to IRI, consumer attitudes shifted during the past few weeks, buying trips for many products increased with the onset of pantry stocking, but consumers are now shifting to fewer, larger trips as social distancing sets in.  Trends in Italy point to an increase in e-commerce, with a dramatic quick uptick in click and collect.
 
COVID-19 Implications, according to IRI, include:

• Retailers and CPG manufacturers have an opportunity to become trusted support for consumers confined to their homes. 

• Center-store has seen a revival as quarantine reintroduces consumers to shelf-stable categories and brands. Retailers and CPG manufacturers should help shoppers make the most of these products.

• There will be a greater shift to online purchasing of consumer products, with click and collect at grocery, club, mass merchandisers and more.

• Drug and convenience stores, which often populate suburban and urban areas, have an opportunity to provide more staple and essential fresh products for consumers staying closer to home.

• With the tightening economy, consumers will increasingly look for the value proposition, zeroing in on lower-priced brands and/or private label products.