Opinion: Is there light at the end of the tunnel?
As we are now coming close to Spring 2021 it is fair to say that in many countries the fight against COVID is in full swing. The general opinion in many countries is that when the vaccination programme is fully up and running it is a matter of months rather than longer until we reach minimum required levels of group immunity so restrictions can start to be loosened. Which means a step back into a normal life. This expectation is fuelled by the fact that fortunately more and more pharmaceutical companies are seeing their vaccines gain approval and production is being scaled up and distribution simplified.
This therefore seems the right time to reflect and fully prepare for the period after Covid. Where did you want to go with your business longer term before and how has this been influenced by COVID in the last year? What are the lasting changes / influences that COVID will have longer term on the category in which you operate and what impacs on fundamental consumer behaviour are here to stay?
It is obvious that Covid in different ways will have a permanent impact mid- and long term but history also shows that people do have a short memory and often fall back quickly in line with former behaviour. The trick is to find the answers related to (former) longer term developments and mid- and long-term permanent changes due to Covid.
A good example is the impulse driven snack bar category which has suffered immensely due to COVID across international markets. Retailers and their suppliers world-wide are still facing declines today but does this mean that retailers in future will, or should reduce available shelf space? Or that suppliers should refocus on other categories or should cut back on NPD efforts? The answer is most probably ‘no’ as relatively soon “after” Covid, the retailers and suppliers that are best equipped to deal with the needs of the “post-COVID” consumer will be the category winners of the next few years.
From that perspective I sincerely hope that sooner rather than later we all can say… Yes, there is light at the end of the tunnel. Good luck to you all!!
Pim Haasdijk
Managing Director
Green Seed The Netherlands