European consumers are gradually returning to pre-COVID-19 spending and out-of-home activities, including holiday shopping, though some pandemic-related practices will continue.
Optimism and spend intent returning
Consumer optimism regarding economic conditions after COVID-19 up by more than 50% since February (from 21% to 34%); strongest growth in spend intent for out-of-home entertainment and travel, but most categories are increasing
Optimism and spend intent returning
Consumer optimism regarding economic conditions after COVID-19 up by more than 50% since February (from 21% to 34%); strongest growth in spend intent for out-of-home entertainment and travel, but most categories are increasing
Indian consumers are optimistic about the economy and plan to spend more. They are open to new shopping behaviors as they transition to out-of-home activities.
These exhibits are based on survey data collected in India from October 15 to 22, 2021. Check back for regular updates on Indian consumer sentiments, behaviors, income, spending, and expectations.
Spend not splurge – consumers point to muted sales
Optimism for an economic rebound has peaked, with young consumers the most optimistic
Despite this, spending intent is negative for many categories, though improved from February
Optimism grows as categories recover
One-third (32%) of French consumers are optimistic for the future —the highest rate seen in our surveys; while net spending intent remains negative, it is trending up across all categories
Spend not splurge – consumers point to muted sales
Optimism for an economic rebound has peaked, with young consumers the most optimistic
Despite this, spending intent is negative for many categories, though improved from February
Boost in optimism and spend intent
Consumer optimism regarding economic conditions after COVID-19 are up by more than 50% since February; strongest growth in spend intent is for out-of-home entertainment, dining out, and travel
Optimism and spend intent returning
Consumer optimism regarding economic conditions after COVID-19 up by more than 50% since February (from 21% to 34%); strongest growth in spend intent for out-of-home entertainment and travel, but most categories are increasing
Optimism and spend intent returning
Consumer optimism regarding economic conditions after COVID-19 up by more than 50% since February (from 21% to 34%); strongest growth in spend intent for out-of-home entertainment and travel, but most categories are increasing
Optimism and spend intent returning
Consumer optimism regarding economic conditions after COVID-19 up by more than 50% since February (from 21% to 34%); strongest growth in spend intent for out-of-home entertainment and travel, but most categories are increasing
Indian consumers are optimistic about the economy and plan to spend more. They are open to new shopping behaviors as they transition to out-of-home activities.
These exhibits are based on survey data collected in India from October 15 to 22, 2021. Check back for regular updates on Indian consumer sentiments, behaviors, income, spending, and expectations.
Spend not splurge – consumers point to muted sales
Optimism for an economic rebound has peaked, with young consumers the most optimistic
Despite this, spending intent is negative for many categories, though improved from February
Optimism grows as categories recover
One-third (32%) of French consumers are optimistic for the future —the highest rate seen in our surveys; while net spending intent remains negative, it is trending up across all categories
Spend not splurge – consumers point to muted sales
Optimism for an economic rebound has peaked, with young consumers the most optimistic
Despite this, spending intent is negative for many categories, though improved from February
Boost in optimism and spend intent
Consumer optimism regarding economic conditions after COVID-19 are up by more than 50% since February; strongest growth in spend intent is for out-of-home entertainment, dining out, and travel
Optimism and spend intent returning
Consumer optimism regarding economic conditions after COVID-19 up by more than 50% since February (from 21% to 34%); strongest growth in spend intent for out-of-home entertainment and travel, but most categories are increasing
While consumer optimism remains steady, we see signs of discretionary spend recovery.
These exhibits are based on survey data collected in the United States from February 18 through 22, 2021. Check back for regular updates on US consumer sentiments, behaviors, income, spending, and expectations.
Chinese consumers’ optimism hit a new high in October. More than 80 percent say they are returning to normal routines—and many embrace digital shopping.
These exhibits are based on survey data collected in China from October 15 to 22, 2021. Check back for regular updates on Chinese consumer sentiments, behaviors, income, spending, and expectations.
In Spain, consumer optimism about the economy has doubled since February 2021, reaching 33 percent. Consumers indicated greater intent to spend, and almost half intended to splurge this year. At equal rates of 60 percent, Spanish consumers said they are omnichannel shoppers and have returned to participating in out-of-home activities (way up from 20 percent in February 2021). More than four in ten reported changing brands, mainly for price. Over one-third said more of their holiday shopping would be online in 2021 than in 2020, and about 40 percent said they would start shopping earlier.
To what extent are you committed to success? Don’t miss the most compelling marketing event of the year. Come and hear how three leading marketers have dealt with challenging situations, turning them into outstanding successes. Here is your opportunity to ask questions and workshop issues and ideas. Learn how to focus your marketing energy, recognise what you are good at and charge on!
Despite an ongoing lockdown, German consumers’ expectations for economic recovery are stable, with half believing their routines will return to normal by the end of 2021.
These exhibits are based on survey data collected in Germany from February 23–27, 2021. Check back for regular updates on German consumer sentiments, behaviors, income, spending, and expectations.
While consumer optimism remains steady, we see signs of discretionary spend recovery.
These exhibits are based on survey data collected in the United States from February 18 through 22, 2021. Check back for regular updates on US consumer sentiments, behaviors, income, spending, and expectations.
Optimism grows as categories recover
One-third (32%) of French consumers are optimistic for the future —the highest rate seen in our surveys; while net spending intent remains negative, it is trending up across all categories
Boost in optimism and spend intent
Consumer optimism regarding economic conditions after COVID-19 are up by more than 50% since February; strongest growth in spend intent is for out-of-home entertainment, dining out, and travel.
This document is meant to help with a narrower goal: provide facts and insights on the current COVID-19 crisis to help marketers and business decision makers. In addition to the humanitarian challenge, there are implications for the wider economy, businesses, and employment. This document includes consumer insights from third-party data providers between February 2019 and August 2021, as well as longitudinal surveys conducted between March 2020 and August 2021, in the United States. Check back for regular updates on US consumer sentiments, behaviors, income, spending, and expectations.
As governments and organizations continue to work toward containing COVID-19 and stem the growing humanitarian toll it is exacting, the economic effects are also beginning to be felt. Through a series of regular, global surveys, we are tracking how customers’ expectations, spending, and behaviors are changing throughout the crisis across multiple countries over time. Please check back regularly for updates.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
As governments and organizations continue to work toward containing COVID-19 and stem the growing humanitarian toll it is exacting, the economic effects are also beginning to be felt. Through a series of regular, global surveys, we are tracking how customers’ expectations, spending, and behaviors are changing throughout the crisis across multiple countries over time.
Mexican consumers continue to be worried about their economy during the COVID-19 crisis, with optimism about a recovery climbing slowly.
These exhibits are based on survey data collected in Mexico from February 20–March 2, 2021. Check back for regular updates on Mexican consumer sentiments, behaviors, income, spending, and expectations.
Despite ongoing lockdowns, European optimism about economic recovery remains steady, except in the United Kingdom, where it is at its highest of the pandemic.
These exhibits are based on survey data collected in the France, Germany, Italy, Spain, and the United Kingdom from February 23–27, 2021. Check back for regular updates on the European consumer sentiments, behaviors, income, spending, and expectations.
Belgian confidence about the economy during the COVID-19 crisis is beginning to increase, but spending intent is still below pre-COVID-19 levels.
These exhibits are based on survey data collected in Belgium from June 18–21, 2020. Check back for regular updates on Belgian consumer sentiments, behaviors, income, spending, and expectations.
Portuguese consumers are concerned about the health of family members as well as the economy, and are cutting back on spending.
Portuguese consumers continue to feel the economic effects of the crisis, and their concerns about health, safety, and the economy are increasing. Most consumers still believe that the personal and financial impact of COVID-19 will continue to last well beyond two months. They expect to cut their spending across almost all categories. However, the proportion of consumers’ income, spending, and savings affected by the COVID-19 situation has decreased slightly since the last pulse. Portuguese consumers have been leaving home mainly to shop and meet family, and expect to continue doing so in the near future. In addition to lifted restrictions, consumers are waiting for the endorsement of medical authorities prior to engaging in out-of-home activities.
These exhibits are based on survey data collected in Portugal from June 19–21, 2020. Check back for regular updates on Portuguese consumer sentiments, behaviors, income, spending, and expectations.
Saudi consumers remain optimistic about economic recovery, however they continue to spend less on discretionary items and more on essential goods.
These exhibits are based on survey data collected in Saudi Arabia from January 25 to February 10, 2021. Check back for regular updates on Saudi consumer sentiments, behaviors, income, spending, and expectations.
US consumers exhibited strong optimism and spend in October, driven by consumers across the age and income spectrum.
Check back for regular updates on US consumer sentiments, behaviors, income, spending, and expectations.
Although Japanese consumer optimism about economic recovery is improving steadily, the majority of consumers are still cautious about reengaging in out-of-home activities.
These exhibits are based on survey data collected in Japan from February 24–27, 2021. Check back for regular updates on Japanese consumer sentiments, behaviors, income, spending, and expectations.
As containment measures have been lifted, Australian consumers’ optimism has returned to April levels, though spending intent is still negative.
These exhibits are based on survey data collected in Australia from Sep 4–7, 2020. Check back for regular updates on Australian consumer sentiments, behaviors, income, spending, and expectations.
Optimism and spend intent returning
Consumer optimism regarding economic conditions after COVID-19 up by more than 50% since February (from 21% to 34%); strongest growth in spend intent for out-of-home entertainment and travel, but most categories are increasing
Indonesian consumers remain optimistic on the economy, expecting higher incomes and spending. Many tried and plan to keep using digital services and omnichannel methods.
In Indonesia, optimism about future economic conditions increased more than 25 percent over September 2020 from an already high base, boosted by planning for the upcoming holiday season. Eight out of ten consumers say they will dine out, shop for gifts, and redecorate. Out-of-home activities are generally rising but remain far below prepandemic levels. Optimism about the economy is tempered by views of household finances; half predict finances won’t return to normal before June. The loyalty shake-up continues, with 60 percent citing value as their primary reason to try a new brand. New digital behaviors are starting to show evidence of stickiness: 60 percent say they intend to use new shopping methods when the pandemic subsides.
While consumer optimism remains steady, we see signs of discretionary spend recovery.
These exhibits are based on survey data collected in the United States from February 18 through 22, 2021. Check back for regular updates on US consumer sentiments, behaviors, income, spending, and expectations.
Chinese consumers’ optimism hit a new high in October. More than 80 percent say they are returning to normal routines—and many embrace digital shopping.
These exhibits are based on survey data collected in China from October 15 to 22, 2021. Check back for regular updates on Chinese consumer sentiments, behaviors, income, spending, and expectations.
In Spain, consumer optimism about the economy has doubled since February 2021, reaching 33 percent. Consumers indicated greater intent to spend, and almost half intended to splurge this year. At equal rates of 60 percent, Spanish consumers said they are omnichannel shoppers and have returned to participating in out-of-home activities (way up from 20 percent in February 2021). More than four in ten reported changing brands, mainly for price. Over one-third said more of their holiday shopping would be online in 2021 than in 2020, and about 40 percent said they would start shopping earlier.
To what extent are you committed to success? Don’t miss the most compelling marketing event of the year. Come and hear how three leading marketers have dealt with challenging situations, turning them into outstanding successes. Here is your opportunity to ask questions and workshop issues and ideas. Learn how to focus your marketing energy, recognise what you are good at and charge on!
Despite an ongoing lockdown, German consumers’ expectations for economic recovery are stable, with half believing their routines will return to normal by the end of 2021.
These exhibits are based on survey data collected in Germany from February 23–27, 2021. Check back for regular updates on German consumer sentiments, behaviors, income, spending, and expectations.
While consumer optimism remains steady, we see signs of discretionary spend recovery.
These exhibits are based on survey data collected in the United States from February 18 through 22, 2021. Check back for regular updates on US consumer sentiments, behaviors, income, spending, and expectations.
Optimism grows as categories recover
One-third (32%) of French consumers are optimistic for the future —the highest rate seen in our surveys; while net spending intent remains negative, it is trending up across all categories
Boost in optimism and spend intent
Consumer optimism regarding economic conditions after COVID-19 are up by more than 50% since February; strongest growth in spend intent is for out-of-home entertainment, dining out, and travel.
This document is meant to help with a narrower goal: provide facts and insights on the current COVID-19 crisis to help marketers and business decision makers. In addition to the humanitarian challenge, there are implications for the wider economy, businesses, and employment. This document includes consumer insights from third-party data providers between February 2019 and August 2021, as well as longitudinal surveys conducted between March 2020 and August 2021, in the United States. Check back for regular updates on US consumer sentiments, behaviors, income, spending, and expectations.
As governments and organizations continue to work toward containing COVID-19 and stem the growing humanitarian toll it is exacting, the economic effects are also beginning to be felt. Through a series of regular, global surveys, we are tracking how customers’ expectations, spending, and behaviors are changing throughout the crisis across multiple countries over time. Please check back regularly for updates.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
As governments and organizations continue to work toward containing COVID-19 and stem the growing humanitarian toll it is exacting, the economic effects are also beginning to be felt. Through a series of regular, global surveys, we are tracking how customers’ expectations, spending, and behaviors are changing throughout the crisis across multiple countries over time.
Mexican consumers continue to be worried about their economy during the COVID-19 crisis, with optimism about a recovery climbing slowly.
These exhibits are based on survey data collected in Mexico from February 20–March 2, 2021. Check back for regular updates on Mexican consumer sentiments, behaviors, income, spending, and expectations.
Despite ongoing lockdowns, European optimism about economic recovery remains steady, except in the United Kingdom, where it is at its highest of the pandemic.
These exhibits are based on survey data collected in the France, Germany, Italy, Spain, and the United Kingdom from February 23–27, 2021. Check back for regular updates on the European consumer sentiments, behaviors, income, spending, and expectations.
Belgian confidence about the economy during the COVID-19 crisis is beginning to increase, but spending intent is still below pre-COVID-19 levels.
These exhibits are based on survey data collected in Belgium from June 18–21, 2020. Check back for regular updates on Belgian consumer sentiments, behaviors, income, spending, and expectations.
Portuguese consumers are concerned about the health of family members as well as the economy, and are cutting back on spending.
Portuguese consumers continue to feel the economic effects of the crisis, and their concerns about health, safety, and the economy are increasing. Most consumers still believe that the personal and financial impact of COVID-19 will continue to last well beyond two months. They expect to cut their spending across almost all categories. However, the proportion of consumers’ income, spending, and savings affected by the COVID-19 situation has decreased slightly since the last pulse. Portuguese consumers have been leaving home mainly to shop and meet family, and expect to continue doing so in the near future. In addition to lifted restrictions, consumers are waiting for the endorsement of medical authorities prior to engaging in out-of-home activities.
These exhibits are based on survey data collected in Portugal from June 19–21, 2020. Check back for regular updates on Portuguese consumer sentiments, behaviors, income, spending, and expectations.
Saudi consumers remain optimistic about economic recovery, however they continue to spend less on discretionary items and more on essential goods.
These exhibits are based on survey data collected in Saudi Arabia from January 25 to February 10, 2021. Check back for regular updates on Saudi consumer sentiments, behaviors, income, spending, and expectations.
US consumers exhibited strong optimism and spend in October, driven by consumers across the age and income spectrum.
Check back for regular updates on US consumer sentiments, behaviors, income, spending, and expectations.
Although Japanese consumer optimism about economic recovery is improving steadily, the majority of consumers are still cautious about reengaging in out-of-home activities.
These exhibits are based on survey data collected in Japan from February 24–27, 2021. Check back for regular updates on Japanese consumer sentiments, behaviors, income, spending, and expectations.
As containment measures have been lifted, Australian consumers’ optimism has returned to April levels, though spending intent is still negative.
These exhibits are based on survey data collected in Australia from Sep 4–7, 2020. Check back for regular updates on Australian consumer sentiments, behaviors, income, spending, and expectations.
Optimism and spend intent returning
Consumer optimism regarding economic conditions after COVID-19 up by more than 50% since February (from 21% to 34%); strongest growth in spend intent for out-of-home entertainment and travel, but most categories are increasing
Indonesian consumers remain optimistic on the economy, expecting higher incomes and spending. Many tried and plan to keep using digital services and omnichannel methods.
In Indonesia, optimism about future economic conditions increased more than 25 percent over September 2020 from an already high base, boosted by planning for the upcoming holiday season. Eight out of ten consumers say they will dine out, shop for gifts, and redecorate. Out-of-home activities are generally rising but remain far below prepandemic levels. Optimism about the economy is tempered by views of household finances; half predict finances won’t return to normal before June. The loyalty shake-up continues, with 60 percent citing value as their primary reason to try a new brand. New digital behaviors are starting to show evidence of stickiness: 60 percent say they intend to use new shopping methods when the pandemic subsides.
Indonesian consumers remain optimistic on the economy, expecting higher incomes and spending. Many tried and plan to keep using digital services and omnichannel methods.
In Indonesia, optimism about future economic conditions increased more than 25 percent over September 2020 from an already high base, boosted by planning for the upcoming holiday season. Eight out of ten consumers say they will dine out, shop for gifts, and redecorate. Out-of-home activities are generally rising but remain far below prepandemic levels. Optimism about the economy is tempered by views of household finances; half predict finances won’t return to normal before June. The loyalty shake-up continues, with 60 percent citing value as their primary reason to try a new brand. New digital behaviors are starting to show evidence of stickiness: 60 percent say they intend to use new shopping methods when the pandemic subsides.
Indonesian consumers remain optimistic on the economy, expecting higher incomes and spending. Many tried and plan to keep using digital services and omnichannel methods.
In Indonesia, optimism about future economic conditions increased more than 25 percent over September 2020 from an already high base, boosted by planning for the upcoming holiday season. Eight out of ten consumers say they will dine out, shop for gifts, and redecorate. Out-of-home activities are generally rising but remain far below prepandemic levels. Optimism about the economy is tempered by views of household finances; half predict finances won’t return to normal before June. The loyalty shake-up continues, with 60 percent citing value as their primary reason to try a new brand. New digital behaviors are starting to show evidence of stickiness: 60 percent say they intend to use new shopping methods when the pandemic subsides.
Italian consumers are increasingly pessimistic about the economy, with many aiming to reduce spending and modify consumption habits.
Italian consumers are increasingly worried about the effects of rising prices, as well as the invasion of Ukraine. Of Italians surveyed, six in ten expressed a negative view of the current economy; hopes for an economic recovery are lower than they were throughout the entire COVID-19 pandemic. Consumers perceived the highest price increases in groceries and fuel, along with strong increase in spend. These sentiments have translated into reduced consumption. Changed consumer behavior is also apparent, with a shift towards discounters and private-label brands. Price, value for money and availability are the biggest drivers of these choices.
These exhibits are based on survey data collected in the United States between February 2019 and June 2021, as well as longitudinal surveys conducted between March 2020 and February 2021. Check back for regular updates on US consumer sentiments, behaviors, income, spending, and expectations.
Japanese consumers’ behaviors and finances are gradually recovering to normal, though their responses indicate a slight increase in pessimism. The long-lasting impact of COVID-19 is prolonging Japanese consumers’ intent to stay conservative about spending across categories. In a further sign of cautiousness, the trend of shrinking pessimism over the past few years reversed for the first time. Meanwhile, people’s demand for travel is rising, considering the next seasonal vacations.
Despite an ongoing lockdown, German consumers’ expectations for economic recovery are stable, with half believing their routines will return to normal by the end of 2021.
These exhibits are based on survey data collected in Germany from February 23–27, 2021. Check back for regular updates on German consumer sentiments, behaviors, income, spending, and expectations.
Despite an ongoing lockdown, German consumers’ expectations for economic recovery are stable, with half believing their routines will return to normal by the end of 2021.
These exhibits are based on survey data collected in Germany from February 23–27, 2021. Check back for regular updates on German consumer sentiments, behaviors, income, spending, and expectations.
Across the continent, the pattern holds: Europeans are anxious about the state of their countries’ economies, and worried about the future. Russia’s invasion of Ukraine and price inflation overshadow other concerns, and consumer anxieties in turn are impacting confidence in household finances and national economies, especially among vulnerable populations.
Worried about spending more on food, transport and fuel, consumers report cutting back on less essential items. Most say they’ve changed their shopping behaviors in recent months, trading down to more affordable brands and retailers. With no relief clearly in sight, 2022 continues to prove a challenging year for the continental consumer.
Across the continent, the pattern holds: Europeans are anxious about the state of their countries’ economies, and pessimistic about the future. Price inflation and the war in Ukraine overshadow other concerns, and these anxieties in turn are causing confidence in household finances and national economies to plummet, especially among low-income households and the elderly. As consumers worry about spending ever more on food, transport and fuel, they cut back on less essential items. Most say they’ve changed their shopping behaviors in recent months, trading down to more affordable brands and retailers. With no relief clearly in sight, 2022 continues to prove an unusually challenging year for the embattled continental consumer.
Spanish consumers are primarily concerned about inflation and the invasion of Ukraine, and are becoming increasingly pessimistic about the economy.
Only 14 percent of Spanish consumers are optimistic about economic recovery, with concerns focused on inflation and the invasion of Ukraine. Four in ten have an increasingly negative sense of the economic outlook—mostly due to petrol and supply-chain shortages, as well as unemployment. Price-increase Perceptions of price increases are particularly high regarding groceries (at 95 percent) and other household products. In these categories, more than half of respondents have reacted to inflation by trying less costly brands. Over the last six weeks, half have tried a private-label brand, 30 percent have switched brands, and a quarter have tried out a different retailer.
Japanese consumers’ behaviors and finances are gradually recovering to normal, though their responses indicate a slight increase in pessimism. The long-lasting impact of COVID-19 is prolonging Japanese consumers’ intent to stay conservative about spending across categories. In a further sign of cautiousness, the trend of shrinking pessimism over the past few years reversed for the first time. Meanwhile, people’s demand for travel is rising, considering the next seasonal vacations.
As inflation rises, French consumer hopes for economic recovery wane, with optimism sinking back to the lows of lockdown.
Optimism regarding the economic recovery has decreased to 14 percent in France—levels last seen in the depths of COVID-19 lockdown. Top sources of concern are rising prices, the invasion of Ukraine, and political uncertainty. Nine out of ten survey respondents perceive high price inflation in the country, and 60 percent expect prices to rise further over the next year. These trends have implications for loyalty: in the search for higher purchasing power, 69 percent of respondents have tried new shopping behaviors in the last four to six weeks. Household products remain the most impacted category, with 65 percent of consumers switching for cheaper options.
Rising prices and the Ukraine invasion are top concerns for German consumers, fueling a general slide into economic pessimism.
German consumers are experiencing intense unease regarding the state of the economy and its future outlook—with public sentiment sinking lower than at any time during the COVID-19 pandemic. Survey participants felt the greatest concern about rising prices and the invasion of Ukraine. Spend on groceries and gasoline has soared, even as consumers cut spending in non-essential categories. Almost two-thirds have assumed new shopping behaviors in the last four to six weeks, with more than forty percent trying private-label brands. There’s a clear trade-down trend in stores visited and brands chosen, with prices and value for money as key drivers.
Indian consumers’ optimism has remained high since October 2021 and has reached the highest levels across other Asian markets since COVID-19 started.
Nearly three-quarters of India’s consumers are optimistic about economic recovery, and net intent to spend is growing and positive across many categories. Omnichannel usage continues across the majority of categories, and social-media influence is high, especially for Gen Z and millennials. More than 90 percent are engaging in social media and entertainment platforms. There is an upward trend for new technology, such as crypto and augmented reality/virtual reality, and consumers intend to continue digital activities as the COVID-19 crisis subsides.
About 40 percent of consumers are engaging in out-of-home activities, especially among the vaccinated segment. Most consumers have tried new shopping behaviors such as new retail outlets and new brands.
Indian consumers’ optimism has remained high since October 2021 and has reached the highest levels across other Asian markets since COVID-19 started.
Nearly three-quarters of India’s consumers are optimistic about economic recovery, and net intent to spend is growing and positive across many categories. Omnichannel usage continues across the majority of categories, and social-media influence is high, especially for Gen Z and millennials. More than 90 percent are engaging in social media and entertainment platforms. There is an upward trend for new technology, such as crypto and augmented reality/virtual reality, and consumers intend to continue digital activities as the COVID-19 crisis subsides.
About 40 percent of consumers are engaging in out-of-home activities, especially among the vaccinated segment. Most consumers have tried new shopping behaviors such as new retail outlets and new brands.
Indian consumers’ optimism has remained high since October 2021 and has reached the highest levels across other Asian markets since COVID-19 started.
Nearly three-quarters of India’s consumers are optimistic about economic recovery, and net intent to spend is growing and positive across many categories. Omnichannel usage continues across the majority of categories, and social-media influence is high, especially for Gen Z and millennials. More than 90 percent are engaging in social media and entertainment platforms. There is an upward trend for new technology, such as crypto and augmented reality/virtual reality, and consumers intend to continue digital activities as the COVID-19 crisis subsides.
About 40 percent of consumers are engaging in out-of-home activities, especially among the vaccinated segment. Most consumers have tried new shopping behaviors such as new retail outlets and new brands.
Most Korean consumers expect that normalcy will return to routines only after June 2022, yet there are signs of pre-COVID-19 routines returning.
Korean customers have been less optimistic than those in other countries about the economic recovery. But optimism in Korea is much higher now than two years ago. Half of consumers indicate a desire to splurge, with intent to do so being the strongest in Gen Z and millennials. One-eighth of consumers say they have returned to out-of-home activities.
UK consumers are pessimistic about the economy. Rising prices and the invasion of Ukraine are top concerns, and consumers are trading down significantly.
In the United Kingdom, consumers are most concerned about rising prices and the invasion of Ukraine. Their views of the current and future state of the economy are extremely pessimistic, worse than throughout the entire COVID-19 pandemic. Spend for groceries and gasoline soared, while consumers reduced spend in non-essential categories. Almost two-thirds of consumers have assumed new shopping behaviors in the last four to six weeks, with more than four out of ten trying private label. Trade-down in retailers visited and brands is evident, with the key drivers of choice being prices and value for money.
Similar to European consumer pulse sentiment and behaviors during the COVID-19 crisis (20)
Spanish consumers are pessimistic about the economy. Rising prices, unemployment, and the invasion of Ukraine are top concerns, and consumers are trading down.
In Spain, consumers are most concerned about rising prices, unemployment, and the invasion of Ukraine. Their views of the current and future state of the economy remain pessimistic, at a level comparable to attitudes in the early months of the COVID-19 pandemic. Spend for groceries and gasoline soared, while consumers reduced money directed to savings and spent less on non-essentials. Of the 80 percent of consumers who have assumed new shopping behaviors in the last three months in search of value for money, more than half tried private labels. Trade-down in retailers visited and brands is evident, with the key drivers of choice being prices and value for money. However, 39 percent of consumers say they plan to splurge in 2022.
COVID-19 is no longer among Italian consumers’ top concerns. Consumers remain pessimistic about economic recovery and inflation; many aim to reduce their spend.
Italian consumers are increasingly worried about the effects of rising prices and the invasion of Ukraine. Unemployment is a number-two concern for respondents in Gen Z, millennials, and the low-income group. Almost six out of ten share a negative view of Italy’s current economic state; hopes for an economic recovery are lower than during the entire COVID-19 pandemic. Consumers observed the highest price increases in groceries and gasoline. To cope with inflation, Italian consumers are changing their purchase behavior, shifting toward discounters and private labels. The leading factors for these choices are prices and value for money.
German consumers are pessimistic about the economy. Rising prices and the invasion of Ukraine are top concerns, and we see a significant down-trade in shopping.
In Germany, consumers’ top concerns are rising prices and the invasion of Ukraine, followed by climate change and COVID-19. Pessimism about the current and future state of the economy has eased but remains at a level comparable to attitudes in the early months of the COVID-19-pandemic. As spend for groceries and gasoline soared, consumers reduced money directed to savings and spent less on non-essentials. Of the 70 percent of consumers who have assumed new shopping behaviors in the last three months, more than four out of ten tried private labels. Trade-down in stores visited and brands is clearly visible, with the key drivers of choice being prices and value for money. However, 46 percent of consumers say they plan to splurge in 2022.
For consumers in France, inflation eclipses other sources of concern. It triggers changes in shopping behaviors as consumers seek better value for money.
French consumers’ optimism regarding the economic recovery is stable at around 14 percent—a level last seen in the depths of COVID-19 lockdowns. Top sources of concern are rising prices (cited by 54 percent), followed by the invasion of Ukraine (13 percent) and climate change (10 percent) and far ahead of COVID-19 (4 percent). Nine out of ten survey respondents perceive high price inflation in the country. These trends have implications for brand and retailer loyalty: of the 73 percent of respondents saying they have tried new shopping behaviors in the last three months, 40 percent say they purchased private labels. Household products remain the category most affected by this trading-down trend.
Australian consumers, in view of the omicron variant, are feeling less optimistic about economic recovery than last year and remain cautious on spending.
In Australia, optimism about economic recovery has declined since the November 2020 pulse survey but remains higher than at the onset of the COVID-19 pandemic. Six in ten consumers predict routines will return to normal only after June 2022; two-thirds do not plan to splurge in 2022. Although Australian households increased their spending in the past month, net intent to spend remains negative. Digital and omnichannel adoption continues in most categories, and intent to use out-of-home services rose. Seventy-five percent of consumers have addressed the rise of omicron by changing how they engage in out-of-home activities. Most consumers have tried a different brand or retailer, especially to switch brands in pursuit of value.
Most Korean consumers expect that normalcy will return to routines only after June 2022, yet there are signs of pre-COVID-19 routines returning.
Korean customers have been less optimistic than those in other countries about the economic recovery. But optimism in Korea is much higher now than two years ago. Half of consumers indicate a desire to splurge, with intent to do so being the strongest in Gen Z and millennials. One-eighth of consumers say they have returned to out-of-home activities.
Pessimism about recovery is at an all-time high in the United Kingdom. Rising prices are the top concern, with consumers significantly trading down in stores and products. UK consumers are feeling great economic uncertainty. With energy and transport costs eating away at consumer savings and non-food spend, the top reasons given by survey participants for economic anxiety are the gas supply, supply-chain shortages, and energy issues. Consumers report the highest perceived price increases in groceries and household supplies, with two-thirds becoming more conscious about energy usage. Half of consumers changed their grocery brands in the last four to six weeks, with trading down a clear trend: price and value were the strongest drivers here.
Rising prices and the Ukraine invasion are top concerns for German consumers, fueling a general slide into economic pessimism.
German consumers are experiencing intense unease regarding the state of the economy and its future outlook—with public sentiment sinking lower than at any time during the COVID-19 pandemic. Survey participants felt the greatest concern about rising prices and the invasion of Ukraine. Spend on groceries and gasoline has soared, even as consumers cut spending in non-essential categories. Almost two-thirds have assumed new shopping behaviors in the last four to six weeks, with more than forty percent trying private-label brands. There’s a clear trade-down trend in stores visited and brands chosen, with prices and value for money as key drivers.
As inflation rises, French consumer hopes for economic recovery wane, with optimism sinking back to the lows of lockdown. Optimism regarding the economic recovery has decreased to 14 percent in France—levels last seen in the depths of COVID-19 lockdown. Top sources of concern are rising prices, the invasion of Ukraine, and political uncertainty. Nine out of ten survey respondents perceive high price inflation in the country, and 60 percent expect prices to rise further over the next year. These trends have implications for loyalty: in the search for higher purchasing power, 69 percent of respondents have tried new shopping behaviors in the last four to six weeks. Household products remain the most impacted category, with 65 percent of consumers switching for cheaper options.
Pessimism about recovery is at an all-time high in the United Kingdom. Rising prices are the top concern, with consumers significantly trading down in stores and products. UK consumers are feeling great economic uncertainty. With energy and transport costs eating away at consumer savings and non-food spend, the top reasons given by survey participants for economic anxiety are the gas supply, supply-chain shortages, and energy issues. Consumers report the highest perceived price increases in groceries and household supplies, with two-thirds becoming more conscious about energy usage. Half of consumers changed their grocery brands in the last four to six weeks, with trading down a clear trend: price and value were the strongest drivers here.
Spanish consumers are primarily concerned about inflation and the invasion of Ukraine, and are becoming increasingly pessimistic about the economy.
Only 14 percent of Spanish consumers are optimistic about economic recovery, with concerns focused on inflation and the invasion of Ukraine. Four in ten have an increasingly negative sense of the economic outlook—mostly due to petrol and supply-chain shortages, as well as unemployment. Price-increase Perceptions of price increases are particularly high regarding groceries (at 95 percent) and other household products. In these categories, more than half of respondents have reacted to inflation by trying less costly brands. Over the last six weeks, half have tried a private-label brand, 30 percent have switched brands, and a quarter have tried out a different retailer.
Italian consumers are increasingly pessimistic about the economy, with many aiming to reduce spending and modify consumption habits.
Italian consumers are increasingly worried about the effects of rising prices, as well as the invasion of Ukraine. Of Italians surveyed, six in ten expressed a negative view of the current economy; hopes for an economic recovery are lower than they were throughout the entire COVID-19 pandemic. Consumers perceived the highest price increases in groceries and fuel, along with strong increase in spend. These sentiments have translated into reduced consumption. Changed consumer behavior is also apparent, with a shift towards discounters and private-label brands. Price, value for money and availability are the biggest drivers of these choices.
Australian consumers, in view of the omicron variant, are feeling less optimistic about economic recovery than last year and remain cautious on spending.
In Australia, optimism about economic recovery has declined since the November 2020 pulse survey but remains higher than at the onset of the COVID-19 pandemic. Six in ten consumers predict routines will return to normal only after June 2022; two-thirds do not plan to splurge in 2022. Although Australian households increased their spending in the past month, net intent to spend remains negative. Digital and omnichannel adoption continues in most categories, and intent to use out-of-home services rose. Seventy-five percent of consumers have addressed the rise of omicron by changing how they engage in out-of-home activities. Most consumers have tried a different brand or retailer, especially to switch brands in pursuit of value.
Chinese consumers have grown less optimistic about the economy, likely due to recent outbreaks of the omicron variant.
In China, overall optimism on economic recovery remains high relative to other countries surveyed. However, the share of optimistic consumers has decreased by more than ten percentage points versus October 2021, likely in reaction to recent omicron outbreaks. Omnichannel shopping behavior and adoption of digital activities continue to prevail, and intent to continue these is high. Meanwhile, intent to spend on out-of-home activities has decreased significantly.
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European consumer pulse sentiment and behaviors during the COVID-19 crisis
1. McKinsey & Company 1
Five emerging consumer themes in October 2021
1 2
Source: McKinsey & Company COVID-19 Consumer Pulse Surveys
5
4
3
Optimism and spend
intent returning
Consumer optimism
regarding economic
conditions after
COVID-19 up by more
than 50% since February
(from 21% to 34%);
strongest growth in spend
intent for out-of-home
entertainment and travel,
but most categories are
increasing
Omnichannel is the
new reality
For more than half of
European consumers,
omnichannel shopping is
reality across product
categories; consumers
empower themselves
with apps and shift to
remote/digital delivery
where they used to
use/shop on-site
Holiday season to
see return to stores
Neutral feelings toward
holiday season dominate
(48%), followed by equal
mix of excitement and
stress (26%); almost half
of consumers (48%) plan
a return to stores for
holiday shopping, and
younger ones expect to
be strongly influenced by
social media
Out-of-home activi-
ties rebounding
Engagement in normal
out-of-home activities
surged from 11% in
February to 51% in
October, driven by
work, day-to-day
necessities, and
meeting friends and
family; however, 74%
cautious due to Delta
variant
Loyalty is under
threat
In case of unavailability
of a product sought,
more than half of
consumers went to
another retailer to shop;
overall shopping
behavior shifted as 66%
tried new behaviors
since COVID-19 started
and 37% tried new
brands
2. McKinsey & Company 2
Confidence in own country’s economic recovery after COVID-191
% of respondents
15 14 13 17 17 22 21
22 32
41
49 52
50 50
46
65
74
67
44
37 35 33 33 32
14
5 1
Mixed: The economy will be
impacted for 6–12 months or
longer and will stagnate or show
slow growth thereafter
Pessimistic: COVID-19 will
have lasting impact on the
economy and show regression
or fall into lengthy recession
Optimistic: The economy will
rebound within 2–3 months and
grow just as strong as or
stronger than before COVID-19
Optimism at similar levels across five European countries
1. Q: What is your overall confidence level surrounding economic conditions after the coronavirus (COVID-19) crisis subsides (ie, once there is herd immunity)? Rated from 1 “very optimistic” to 6 “very pessimistic.” Bars may not sum to
100% due to rounding.
Optimism and spend intent returning | Current as of October 2021
US Germany
10/15–22
UK
10/15–22
10/9–15
Italy
10/15–22
France
10/15–22
Change in % optimistic vs
Feb survey, percentage points
+3 +3
+13 +14
+18
Spain
10/15–22
+16
India
10/18–25
+3
Source: McKinsey & Company COVID-19 Consumer Pulse Survey
China
10/17–22
+6 +2
Japan
10/18–20
3. McKinsey & Company 3
30 30 32 30 31 31
24
17
52 55 53 55 54 53
55
49
18 15 15 15 14 16
21
34
Oct 2021
Feb 2021
May 2020 June 2020
Mar 2020 Sept 2020
Apr 2020 Nov 2020
Optimism and spend intent returning | Current as of October 2021
1. Q: What is your overall confidence level surrounding economic conditions after the coronavirus (COVID-19) crisis subsides (ie, once there is herd immunity)? Rated from 1 “very optimistic” to 6 “very pessimistic.” Figures may not sum to
100% because of rounding.
2. Average of biweekly pulse surveys shown for Mar–May 2020.
Optimistic: The
economy will rebound
within 2–3 months and
grow just as strong as or
stronger than before
COVID-19
Mixed: The economy will
be impacted for 6–12
months or longer and will
stagnate or show slow
growth thereafter
Pessimistic: COVID-19
will have lasting impact
on the economy and
show regression or fall
into lengthy recession
Source: McKinsey & Company COVID-19 Europe Consumer Pulse Survey, 10/15–10/22/2021, n = 5,081 (France, Germany, Italy, Spain, UK); 2/23–2/27/2021, n = 5,139 (France, Germany, Italy, Spain, UK); 11/9–11/16/2020, n = 5,232; 9/24–
9/27/2020, n = 5,338 (France, Germany, Italy, Spain, UK); 6/18–6/21/2020, n = 5,645; 5/21–5/24/2020, n = 5,641; 4/30–5/03/2020, n = 5,631; 4/16–4/19/2020, n = 5,623; 4/2–4/5/2020, n = 5,645, 3/26–3/29/2020, n = 5,614; 3/20–3/23/2020, n =
5,035 (Italy, France, Germany, Spain, UK, Portugal), sampled to match the Europe general population 18+ years
Overall optimism has significantly increased since February 2021,
rising from 21 percent to 34 percent
Confidence in own country’s economic recovery after COVID-19,1 % of respondents
20202 2021
4. McKinsey & Company 4
Increased confidence across markets in October; UK has leveled out
since February
t pulse from week 23rd March, 2020 next pulse insights coming April 1, 2020
1. Q: What is your overall confidence level surrounding economic conditions after the coronavirus (COVID-19) crisis subsides (ie, once there is herd immunity)? Rated from 1 “very optimistic” to 6
“very pessimistic.” Figures may not sum to 100% because of rounding. Last weekly survey conducted in Apr 2020 covered first 3 days of May.
37 40 34 35 37
32
22
51 49
49 53 52
50
46
12 11 17 12 11
18
32
Apr
2020
May
2020
June
2020
Oct
2021
Sept
2020
Nov
2020
Feb
2021
17 16 16 17 18 17 14
60 64 63 66 59
49
23 20 21 17
23 24
37
Apr
2020
59
Sept
2020
May
2020
June
2020
Nov
2020
Feb
2021
Oct
2021
35 37
31 26
33
21
14
51 49 57
60
54
62
51
14 14 12 14 13 17
35
June
2020
Apr
2020
Feb
2021
May
2020
Oct
2021
Sept
2020
Nov
2020
42 39 39 42 40
31
17
43 47 48
47 47
52
50
15 13 13 11 14 17
33
Oct
2021
June
2020
Sept
2020
May
2020
Apr
2020
Nov
2020
Feb
2021
24
35 30
37
31
18 17
58
50 55 47
52
53 50
18 15 15 17 17
30 33
June
2020
Oct
2021
May
2020
Apr
2020
Sept
2020
Nov
2020
Feb
2021
Optimistic Pessimistic
Mixed
Confidence in own country’s economic recovery after COVID-191
% of respondents
UK France
Germany Italy
Spain
Source: McKinsey & Company COVID-19 Europe Consumer Pulse Survey, 10/15–10/22/2021, n = 5,081; 2/18–2/22/2021, n = 2,076; 11/9–11/13/2020, n = 2,024; 10/23–10/27/2020, n = 2,021; 9/18–9/24/2020, n = 1,026; 8/19–8/23/2020, n =
2,026; 7/30–8/2/2020, n = 2,024; 7/7–7/12/2020, n = 1,923; 6/15–6/21/2020, n = 2,006; 6/1–6/7/2020, n = 1,966; 5/18–5/24/2020, n = 1,975; 5/11–5/17/2020, n = 2,002; 5/4–5/10/2020, n = 1,993; 4/27–5/3/2020, n = 2,105; 4/20–4/26/2020, n =
1,052; 4/13–4/19/2020, n = 1,052; 4/6–4/12/2020, n = 1,063; 3/30–4/5/2020, n = 1,484; 3/23–3/29/2020, n = 1,119; 3/20–3/22/2020, n = 1,073; 3/16–3/17/2020, n = 1,042, sampled to match the Europe general population 18+ years
Optimism and spend intent returning | Current as of October 2021
5. McKinsey & Company 5
1. Q: Which best described how you have researched the following categories over the last 3 months?
2. Q: Which best describes how you have purchased the following categories over the last 3 months?
46
44
40
36
35
31
29
29
28
28
24
24
23
23
21
19
19
18
15
15
11
54
52
55
57
54
61
61
55
61
60
59
55
66
58
61
63
57
67
67
66
57
4
5
7
11
8
10
16
11
12
17
21
11
19
18
18
24
15
18
19
32
46
44
40
36
35
31
29
29
28
28
24
24
23
23
21
19
19
18
15
15
11
54
52
55
57
54
61
61
55
61
60
59
55
66
58
61
63
57
67
67
66
57
4
5
7
11
8
10
16
11
12
17
21
11
19
18
18
24
15
18
19
32
Vehicles
Toys and baby supplies
Meal at restaurant
Groceries/food for home
Personal-care products
Kitchen and dining
Vitamins, supplements, and OTC medicine
Pet food and supplies
Meal at quick-service restaurant
Skin care and makeup
Fitness and wellness services
Books, magazines, and newspapers
Footwear
Home improvement, gardening supplies
Jewelry
Accessories (eg, handbags, sunglasses)
Sports and outdoors equipment, supplies
Apparel
Food takeout and delivery
Home decoration, furniture
Consumer electronics
Omnichannel
Research and purchase only in-store Research and purchase only online
Omnichannel shopping is reality for more than half of consumers
in all categories, with home-related, sports, and apparel strongest
Omnichannel is the new reality | Current as of October 2021
Product searches1 and purchases2 by channel
% of respondents who purchased in these categories in the last 3 months
Source: McKinsey & Company COVID-19 EU Consumer Pulse Survey, 10/15–10/22/2021, n = 5,081 (France, Germany, Italy, Spain, UK), sampled and weighted to match
the Europe general population 18+ years
6. McKinsey & Company 6
Many consumers switched retailer or brand if they could not make
a purchase as planned
Loyalty under threat | Current as of October 2021
1. Q: Over the last 3 months, have you wanted to buy something and not been able to purchase it because it was out of stock or otherwise not available?
2. Q: The most recent time this happened (when you wanted to buy something and it was not available), what did you do?
Respondents who planned to purchase
something but could not, due to unavailability1
% of respondents
32
26
20
15
7
Bought a different brand or similar
product at a different retailer
Bought the product at
a different retailer
Did not buy anything
Waited until product was
availabile at the same retailer
Bought a different product
at the same retailer
Consumer responses to stockouts2
% of respondents who could not make a planned purchase
55
45
Oct 2021
Could not purchase
at least 1 item
Able to purchase
all items
Source: McKinsey & Company COVID-19 Europe Consumer Pulse Survey, 10/15–10/22/2021, n = 5,081 (France, Germany, Italy, Spain, UK), sampled to match the Europe general population 18+ years
7. McKinsey & Company 7
Out-of-home activities rebounding | Current as of October 2021
51
11
12
37
27
11
May 2020
Oct 2021
Sept 2020
Nov 2020
Feb 2021
June 2020
Overall
Vaccinated
52
Unvaccinated
37
53 50
48
Gen X
Gen Z Baby boomers3
Millennials
52
High (>€50k)
Low (<€25k) Medium
(€25k–50k)
49 50 54
1. Q: Which best describes when you will regularly return to stores, restaurants, and other out-of-home activities? Chart shows those already participating in these activities.
2. Gen Z are people under 25 years old, millennials are 25–44 years old, Gen X are people 45–54 years old, baby boomers are 55 years old and above.
3. Baby boomers includes silent generation.
4. Income brackets shown in € apply for France, Germany, Italy, Spain, for UK same brackets were used with £.
Source: McKinsey & Company COVID-19 Europe Consumer Pulse Survey, 10/15–10/22/2021, n = 5,081 (France, Germany, Italy, Spain, UK); 2/23–2/27/2021, n = 5,139 (France, Germany, Italy, Spain, UK);
11/9–11/16/2020, n = 5,232; 9/24–9/27/2020, n = 5,338 (France, Germany, Italy, Spain, UK); 6/18–6/21/2020, n = 5,645; 5/21–5/24/2020, n = 5,641; sampled to match the Europe general population 18+ years
By
generation2
By
vaccination
adoption
By income4
53%
of Gen Z are doing out-
of-home activities
54%
of higher-income
households are doing
out-of-home activities
52%
of people who are
vaccinated are doing
out-of-home activities
Consumers engaging in ‘normal’ out-of-home activities,1 % of respondents
Even with the Delta variant present, more than half of European
consumers say they are engaging in ‘normal’ out-of-home activities
8. McKinsey & Company 8
Three themes are emerging among European consumers for the
2021 holiday shopping season
Consumers return to stores
Almost half of consumers (48%) plan
to go to stores in person for shopping,
though Gen Z plans to research even
more on social media (46%) than in
stores (45%)
Spend pulled forward Loyalty switching at play
Many consumers (37%) are spending
earlier than last year in light of
potential product shortages (45%),
shipping delays (36%), and concern
about unexpected COVID-19
challenges (39%)
76% of consumers say they will shop
differently than last year, with the
biggest switch to shopping more
online (33%); loyalty may be
challenged, as consumers indicate
price is a key driver for determining
where they will shop
1 2 3