Consumer Transformation
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Digital adoption has raced forward, by necessity. COVID has increased the centrality of the home and redefined the things that one does from home: eCommerce, grocery shopping, work, entertainment, fitness, restaurant food delivery, healthcare delivery.
Additionally, the drivers of preference are different for next-gen consumers who prioritize frugality, social impact and sustainability. Disruptive innovation typically spurts forward in times of crisis because innovations tend to do better on a “clean slate” basis. How consumers exit the crisis will be less about legacy decisions carried forward than the new things tried and preferred.
What we’re watching:
Related themes:
The crisis is a catalyst for innovation as we forecast consumers will accelerate adoption of Re-Commerce & online grocery as they pivot toward value and blend digital & physical interactions.
Oliver Chen, Retail’s Modernization Imperative