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Why big brands are helping local businesses navigate Covid-19
As local businesses grappled with how to respond to the coronavirus crisis, big brands in a number of sectors stepped in as they looked to make a difference to local communities.
On 23 March, the UK announced lockdown measures that would change the way we consume, market and live for the foreseeable future. As companies grappled with the new reality one trend started to appear – big business coming forth to help local ones.
Whether it was Barclay’s, Vice, Time Out or Diageo, brands across sectors extended a helping hand to local businesses.
In part this was driven by a change in consumer behaviour. According to Nielsen, a quarter of consumers say they are visiting local stores more than they did before the pandemic. And a survey by Deloitte Digital found that 57% of consumers say they will be spend more on locally-produced products after lockdown is lifted than they did before.
However, there are challenges ahead. While consumers might say they are spending more locally, spend overall is down. Channel 4 data finds that 41% say they are likely to spend less on retail shopping over the next 12 months than they did before lockdown.