BASES COVID-19: TRACKING THE IMPACT ON INNOVATION

 

Consumer behavior around the world is changing rapidly due to COVID-19. You know it is affecting buying behavior, but what about innovations in development? Nielsen BASES has been diligently tracking the pandemic’s impact on innovation research and is now compiling all of that data in one convenient place.

 

We’ll be updating this page regularly with the latest news and insights. If you have specific questions, reach out to your Nielsen BASES representative or contact us.

UPCOMING EVENTS

The COVID-19 pandemic has triggered profound and unprecedented changes in societies across the world. This has resulted in shifts in how people shop and consume CPG products, further evolving with the government responses and the impact on economies. These shifts will naturally influence product innovation and renovation strategies as consumers, manufacturers and retailers experience new dynamics.

 

KEY TOPICS:

  • Should innovation remain a priority for brands during the COVID-19 crisis?
  • How should execution and go-to-market strategies be adjusted for recently launched innovations?
  • Should brands pause or reprioritize innovations planned for launch in 2020?
  • How to protect and maximize margins with portfolio, price and product adjustments?
  • Are there any quick-wins or short-term adjustments to consider for brands?

 

Asia Timezone Session:

  • Date: Thursday, June 4, 2020
  • Time:
    • 8:30-9:30 a.m. Mumbai; 10:00-11:00 a.m. Bangkok /Ho Chi Minh / Jakarta; 11:00 - 12:00 p.m.  Singapore / Shanghai / Manila; 12:00 - 13:00 p.m. Tokyo; 13:00 - 14:00 p.m. Sydney

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INSIGHTS

MOST RELEVANT BENEFITS IN HOME CARE PROTECTION

 

During COVID-19, consumers’ sentiment towards product offerings shows a clear and expected preference towards germ-killing and health protection benefits, but subtle differences among countries are worth considering. Under these pressing circumstances, consumers value effective brands that will help them care for their families.

 

Sustainable and organic claims won’t play as big a role, even in countries where they were gaining traction before the crisis. Most importantly, consumers are willing to pay more for effective products and any brand will have a space in consumer’s minds if they get the message right.

 

We conducted a Quick Screen claim analysis across 15 countries to understand how consumers are prioritizing product benefits when it comes to buying home care products.

 

 

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MOST RELEVANT BENEFITS FOR READY TO EAT AND DRINK PRODUCTS

 

Although taste remains a priority for many, our research on what benefits are “worth paying more for” revealed that consumers in this environment value products that also claim to deliver health benefits (immune system strength or supplements with ingredients that are known to deliver health benefits). Quality ingredients are also perceived as worth paying more for.

 

We conducted a Quick Screen claim analysis across countries to understand how consumers are prioritizing 21 different product benefits when it comes to buying ready to eat and drink products.

 

 

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REPORTS

IMPLICATIONS OF COVID-19 ON INNOVATION IN THE SHORT TERM

 

As the crisis of COVID-19 and the subsequent recession marches on, it’s clear that the situation will remain fluid for months to come.  Marketers must consider adaptations to their brand-building plans, including the role of innovation in the near term. 

 

This is part one of a multipart whitepaper. In future publications, we will look at the role of innovation in the long term.

 

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DRIVERS OF RETAILER CHOICE IN A CRISIS

 

Retailers are making headlines as consumers adapt their purchasing behavior to match the changing times. Overall, more than 80% of consumers state that they have been forced to make changes to their normal shopping habits.

 

So, BASES set out to understand consumer decision making when selecting a retailer during this crisis. By understanding not only what’s important to consumers’ choice of a retailer but also how to deliver that benefit, these results can guide retailers as they look to adapt to the changing environment.

 

 

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MEASURING INNOVATION DURING A CRISIS

 

Wherever you live in the world, you have probably seen the impacts of COVID-19 where you shop.

 

You know it is affecting buying behavior, but what about innovations that are still in development? Can we rely on consumer input collected during these turbulent times?

 

 

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MEASURING INNOVATION DURING AN ECONOMIC CRISIS

 

A second crisis is rapidly emerging on the heels of the COVID-19 viral crisis: an economic concern that rivals—and may be deeper than—the 2008-2009 recession.

 

As policymakers grapple with how to invigorate economies that have been at least partially shuttered by mandatory closures, marketers must grapple with the concern of how consumer purchasing will respond to the increased pressure on our wallets.

 

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RESTAURANT INNOVATION & STRATEGY DURING A CRISIS

 

Around the globe, the COVID-19 outbreak has dominated media headlines
and permeated daily life. A common reaction to times of crisis: noticeably altered buying behaviors. While this is evident in the spike in sales for household cleaning supplies and non-perishables, rolling, statewide restrictions on restaurants and bars are also driving a significant impact to industry sales.

 

Given the current turmoil in the restaurant sector, we surveyed 500 restaurant guests in the U.S. to get a sense for how COVID-19 has and will impact their behavior with respect to restaurant dining.

 

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WEBINARS

WEBINAR: MEASURING INNOVATION DURING A CRISIS

Join Amy Sizemore, Nielsen BASES Senior Vice President, and Gautam Seth, Nielsen BASES Vice President Asia Pacific, as they look at how to measure innovation during a crisis.

 

KEY TOPICS

  • How previous crises offer insight into how consumer responses in innovation research could be affected during the COVID-19 environment
  • Key findings from parallel testing, specifically pre- and post-COVID-19
  • Guidance on how to navigate your innovation pipeline during this time of uncertainty
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A SPECIAL MESSAGE FROM JOE WILLKE, PRESIDENT OF BASES