Most Consumers Changed Brands in 2020: Research Explains Why

Now that 2020’s global pandemic has taught most of the world how to live and work completely from home, marketers planning their 2021 strategy are asking one big question:

“Will this uncertain time change the way people spend money?”

McKinsey — which recently polled consumers in over 48 countries about their 2020 spending habits — says, “Yes.”

One of the biggest findings in the McKinsey study was that 75% of consumers have changed brands at least once during the pandemic.

McKinsey’s research also noted four other key shifts in consumer spending behavior that could majorly impact brands in the near or far future.

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