Category
Lifestyle
Assisted Choices
Trend cluster
Category
PWYC
COVID
Brands are alleviating financial stress with special pay-what-you-can programs.
2.2
Trend score
Trend
What is the PWYC COVID trend?
PWYC COVID: During COVID-19, many companies have decided to offer their products, services, or a portion of them on a pay-what-you-can basis. These types of initiatives are launched as businesses seek to support their consumers while being sensitive about their financial situation during the pandemic.
Insight
The consumer insight behind the PWYC COVID trend
Consumers are experiencing some financial insecurity as the COVID-19 pandemic has effectively taken away jobs and opportunities. For some, this impacts their ability to afford necessities like food, shelter, education, and so on. This creates a demand for more accessible goods that allow individuals to be fed or to enrich their lives without placing further strain on their unique financial situations. As a result, many opt-in for discounted or flexible solutions in order to take care of themselves and their families without worrying about money.
Trend themes
Themes within the PWYC COVID trend
Three behaviours holding the trend together01
PWYC Initiatives
Businesses are helping alleviate financial strain on consumers with pay-what-you-can programs in response to COVID-19.
02
Discounted and Flexible Solutions
Consumers are seeking accessible goods that allow individuals to take care of themselves and their families without worrying about money.
03
Virtual Programs
Virtual programs are becoming popular during COVID-19, especially pay-what-you-can classes and courses.
Industry implications
What the PWYC COVID trend means for industry
Where the trend changes the playbookFor
Education
Pay-what-you-can programs for education services could be offered to support students during COVID-19 and beyond.
For
Food and Beverage
Pay-what-you-can initiatives on certain menu items can help restaurants draw in families during COVID-19.
For
Healthcare and Pharmaceuticals
Pay-what-you-can options in online pharmacies can help make healthcare accessible to people affected by COVID-19.
Workshop question
How can your brand increase affordability for certain products/services?
Trend signals
Trend signals for PWYC COVID
Trend score 2.2 out of 10, from popularity 31%, activity 27%, freshness 9%.
Popularity31%
Activity27%
Freshness9%
Audience
50%Men
50%Women
- Gen Alpha
- Gen Z
- Millennial
- Gen X
- Boomer (not a primary audience)
Market
North America
Europe
Asia-Pacific
Evidence
Examples of the PWYC COVID trend
4 featured examples from Apr 2 to Jun 17, 2020CategorySocial Good
Pay-What-You-Can Online Pharmacies
Online Pharmacy Cabinet is Helping Public Safety Amid Covid-19
The pharmaceutical industry can benefit from implementing pay-what-you-can programs and direct-to-consumer delivery to improve accessibility and affordability.
CategoryMarketing
PWYC Kid's Meals
Hugo's Restaurants is Alleviating Stress from Family Life Amid COVID-19
The restaurant industry can adopt PWYC menus to assist struggling families, while building stronger connections with their communities.
CategorySocial Good
PWYC Virtual Music Classes
Sing Like A STAR Provides Classes for Children Through Zoom
Disruptive innovation opportunity: Integrating technology and virtual platforms into traditional music education programs to meet the changing needs of students.
CategorySocial Good
PWYC ISA Programs
Juno College of Technology Aims to Offer Tuition Flexibility to Students
Disruptive innovation opportunity: Introducing innovative financial models to make education more accessible and inclusive.
