Covid-19: Impact on Consumer spending
GlobalWebIndex, a leading firm that provides audience insight to publishers, media agencies and marketers around the world has produced a series of research articles related to the Coronavirus outbreak. In their most recent note they explore how consumers’ shopping habits have changed during the outbreak.
Major remarks take from pages 4-6 are:
- Grocery spending on the rise in all countries and demographics
- Cleaning products, toilet paper, and non-perishable goods are the priority buys –in that order
- Bigger baskets, fewer visits
- Simple, reliable forms of self-care dominate despite many resources available
- Convenience often triumphs over health or financial benefits when it comes to deliveries
- Brand discovery reflects our changing media habits while in lockdown
- Consumer priorities reflect a “mind over matter” attitude
- Younger groups are most likely to be eyeing up post-crisis purchases, and domestic vacations are top of the list
- As is typical, consumers have a more positive outlook on their personal outcomes vs. macro outcomes
More can be found in the report here