Spending less, living well: How consumers are redefining a good life

R/GA Singapore’s Anna Shin maps out how the consumer definition of happiness and satisfaction has changed thanks to COVID-19, and how brands need to adapt to thrive.

Why it matters

We are experiencing a collective introspective moment where consumers are pinching pennies and electively evaluating what contributes to their wellbeing. Brands are also facing an existential crisis – some will be decimated while those who enable consumers to rethink and adapt to new ways of living will survive and thrive beyond the pandemic.

Takeaways

  • Consumers will continue to put their money to those who are serving wellbeing needs rather than products and services that fuel superficial wants.
  • Brand that are committed to consumers with concrete, functional actions even when their chips are down, will have a customer...

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