Food, personal care, mobile phones, e-commerce, and hair care are the top five most-consumed categories for the post-pandemic consumer. Among the 29 most-consumed categories, OTT is at 11, retail at 19, apparel and footwear at 28, and tobacco at the bottom at 29.
While several incumbent brands floundered in the post-pandemic disruptive environment, the study saw the rise of some powerful digital-first brands that had their pulse on the changing dynamics and were able to adapt quickly.
One interesting change was that with digital becoming the primary medium, millennials suddenly emerged as key influencers with respect to the choice of brands. Also, with ‘super apps’ that sell a wide variety of goods and services, the concept of brand loyalty underwent a sea change, showed a ‘BrandXcel’ study, conducted by Market Xcel, a research and insights firm.
The study found that food, personal care, mobile phones, e-commerce and automotive scored high on relevance and their population size. These are the categories that had the highest number of touchpoints in daily consumer life and consumers have several brand choices here. This space is thus, large and competitive. Several top 100 brands belong to these categories.
Most beverages brands were classified into the next category. These brands too have a high number of touchpoints in daily consumer life. However, the proportion of consumers who feel that they make a positive impact on their lives is less. There are too many brands competing for a given demand space in this category.
Fintech emerged as the category that needs to drive its relevance amongst consumers and therefore needs for brands within this category to increase their resonance and connect. IT & Electronics and BFSI need to work on re-orienting their proposition to drive their relevance and also work towards refreshing their offers significantly.