COVID-19 Implications on the Loyalty concept

The impact of the COVID-19 outbreak has already changed our daily lives in many ways. Most of this change is tied to the external restrictions placed on our lives as we are urged to practice social distancing, shelter in place, and learn to live and work under new circumstances, all with the shared objective of stemming the spread of the virus.

When the virus subsides and daily routines become more familiar, we can expect that two extremes in human behaviors are possible: 1) People will desperately seek a return to life as they knew it before the crisis. Many people will exhibit “short memories” regarding habits and attitudes 2) We will see a step-change in our collective behaviors, elevating the importance of products made in our respective home nations, and giving widespread attention to the sustainability of our planet. The future reality will occur somewhere in between these two extremes. (The Wise Marketer)

The global coronavirus pandemic is affecting consumer behavior worldwide, which will have long-term implications for business. As customers shift their traditional shopping behaviors, many brands are wondering what the residual effects may be. Cindy Faust, Chief Commercial Officer, Aimia

Customers are without a doubt experiencing new ways and experiences to do their shopping in todays world. We can expect that a new buyer profile will emerge from this situation, and therefore the marketing teams must be alert and ready to bring their brands and products closer to this new customer profile in an effective and fast way. We obviously don’t know the definitive end to the current crisis, but we do know that things will be different on the other side. Be alert, pay attention to details and perhaps take into consideration for your benefit your own (+ friends and family) positive interactions with services and brands these days.

This moment will probably define brands for years to come and loyalty marketers must be vigilant and close to what will arise from this situation in order to become more relevant to the customers.