Over the past few weeks, we have been sharing insights we’ve uncovered in our advanced analytics platform around the ongoing pandemic and the resulting shifts in consumer behaviors and market indicators. For a better pulse and understanding of the global health crisis and all of the related topics, we took it one step further and created a custom taxonomy to surface and monitor these topics.
COVID-19 Purchase Drivers
The chart below shows the distribution of consumer discussion surrounding COVID-19 across the top four impacted categories: Vitamins, Minerals, & Supplements (VMS); Frozen Food; Snacks; and Body Hygiene. The chart is further broken out by the top seven most discussed coronavirus topics, providing a snapshot view of how COVID-19 concerns are manifesting differently in each unique category.
Family is a focal point across VMS, Frozen Food, and Snacks. Consumer consumption behaviors are driven first by their worry for their families, while other topics are pressing, yet secondary motivations behind Family.
Key areas of interest in VMS are Fear, Anxiety, Panic, & Stress. Consumers are not only worried about physical health. They are also concerned for the toll the crisis could have on their mental health as reflected in the 58% increase year-to-date in discussion surrounding Mood & Stress, Relaxation, and Sleep benefits.
Hand washing and sanitizing are key topics within Body Hygiene, driving 66% of COVID-related conversations. Consumers are turning away from more natural solutions and going back to trusted household brands to help fight off the virus. As a result, we are seeing attributes that were previously showing momentum are now taking a back seat to more top of mind pandemic concerns.
Food Supplies is the main driver within the frozen food category with 57% of total posts. Frozen Foods, especially frozen vegetables, are now center plate as consumers seek healthy and nutritious options for when produce may not be as accessible. However, flavor and choice still play a role as consumer tastes and preferences continue to influence purchase decisions.
Snacking habits are shifting towards topics like Fear, Anxiety, and Quarantine. The benefits and features showing the highest growth include those with extended shelf life, aid in relaxation, and contains anxiety-reducing ingredients like CBD. With uncertainty around the full impact and duration of COVID-19, consumers are seeking comfort-food and products that will last a long time.
COVID-19 Intelligence Platform Configuration
A major strength of the Signals Analytics platform is the ability to configure the platform to answer specific business questions or, in this case, address the effects of a global health crisis.
Between the combined efforts of our data scientists and our industry experts, our teams were able to seamlessly build a taxonomy specific to the topics surrounding COVID-19. The teams leveraged machine learning and natural language processing for enhanced speed and scale, coupled with industry expert refinement and validation for increased precision and relevance.
To start leveraging advanced analytics to stay ahead of the curve, schedule a demo with one of our solutions consultants.