Following the news that Unilever has released its 2020 full-year results;
Frederick Diamond, Consumer Analyst at GlobalData, a leading market research company, offers his view on how the pandemic, when responded properly, can offer gains for diverse brand portfolios:
“Unilever’s 2020 announcements clear the global shift in priorities by consumers in one of the most turbulent years in modern history. One-third (33%)*1 of consumers globally report buying household cleaning products more than before the pandemic, in China, this rises to 51%*1. This could be down to the fact China has dealt with two other novel coronaviruses (SARS and MERS) this century. Either way, this has been great news for Unilever, who have used the opportunity to lay strong foundations in China for the household cleaning range.
“Domestos made headlines back in January 2020 as sales of the household cleaning brand skyrocketed against the background of a new novel coronavirus emerging in China. Unilever charged into the fray, launching new cleaning formats worldwide and bringing the flagship brand to China as the year progressed, seeing the brand grow by 25% overall, an increase Unilever attribute to Chinese market penetration.
“It’s not just the cleaning products that stand out as drivers of growth for Unilever. Plant-based meat alternatives, particularly under their ‘The Vegetarian Butcher’ range, have also been enjoying a rise. This correlates with GlobalData’s research, showing a move towards plant-based alternatives in light of heightened health and eco awareness; one in five (21%)*2 millennials globally report buying more plant-based meat alternatives than before the pandemic.”
1- GlobalData 2020 Coronavirus (COVID-19) Recovery Consumer Survey Results- Week 11 –China – Combined responses: “I have never bought this, but have started buying this now”, “I am buying slightly more than before”, “I am buying significantly more than before” and “I am stockpiling i.e. buying this in bulk or multiple times”
2- GlobalData 2020 Coronavirus (COVID-19) Recovery Consumer Survey Results- Week 11 – Global– Combined responses: “I have never bought this, but have started buying this now”, “I am buying slightly more than before”, “I am buying significantly more than before” and “I am stockpiling i.e. buying this in bulk or multiple times”
