Page 15 - WhitePaper_MC&I Benchmark in Covid19 Era

overall changing budget priorities and, for some, large declines in sales.
Given that many marketers have only recently prioritized MC&I segments, conservative
approaches to marketing investments have led to those segments being deprioritized fi nancially.
According to one respondent, “Project work oriented to exploration, audience development,
or innovation has been eliminated and clients are taking very conservative approaches and/or
reducing investments.”

UNCERTAINTY
The study revealed that uncertainty looms as one of the greatest business challenges. Marketers
and businesses are challenged to defi ne/understand the current situation or how long it will
last. Specifi cally, businesses cannot predict the unique needs of their consumers and their
business, which makes all business decisions increasingly diffi cult.

B. BIGGEST CHALLENGES FOR MC&I CONSUMERS
The unique challenges of consumers greatly shape marketing efforts. Survey respondents
indicated that the biggest challenges for MC&I consumers during the pandemic are:

Economic Social Fear &
Uncertainty Inequities Instability
& Racism

ECONOMIC UNCERTAINTY
During the pandemic, consumers are experiencing great economic loss and uncertainty: many
have lost their jobs and/or a substantive amount of their income. Within MC&I communities,
there is even greater economic loss, because the virus has disproportionately affected these
communities. In many ways, the economic and health diffi culties presented by COVID-19 have
exacerbated existing inequalities. In a general sense, the “have nots” are less fi nancially stable,
and in turn, more vulnerable to economic and health losses.

Additionally, the occupation and status of many MC&I consumers have consequences for their
access to resources in addition to their health and economic well-being. As one respondent
points out, “Many MC&I consumers are deemed as essential workers [and] therefore cannot
make it to the stores to buy our products. When they fi nally make it, the shelves are empty.”

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