Unilever's decision to cut its workforce by 1,500, while also making a number of changes to its leadership team, reflects the challenges facing consumer goods firms in appealing to the post COVID-19 consumer, an industry analyst has suggested.
“Although COVID-19 restrictions have been alleviated in many countries, 45% of consumers are still concerned about the pandemic when visiting shops, according to a survey by GlobalData," commented Ramsey Baghdadi, consumer analyst at GlobalData.
"Shop visitor numbers remain lower than pre-pandemic periods, and this is a direct barrier to a significant portion of Unilever’s portfolio that relies on impulse buys. No longer can the company be supported by boosts from panic buying. New product launches and specialised products will likely see less consumer engagement, and sales will ultimately slow."