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.
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.
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.
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.
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.
Argentine consumers remain concerned about the economy and taking care of their families during the COVID-19 crisis.
These exhibits are based on survey data collected in Argentina from September 1–11, 2020. Check back for regular updates on Argentines’ consumer sentiments, behaviors, income, spending, and expectations.
Filipino consumers generally remained as optimistic in October as they were in April; however, optimism among lower-income groups declined significantly.
As the government’s COVID-19 restrictions ease, Filipino consumers are cautiously resuming spending activity. While overall optimism remained the same from April to October, optimism in the lowest income group dropped significantly, while those in the highest income group increased. Optimism among 20- to 24-year-olds also declined. Additionally, approximately 50 percent of respondents believe their finances will be impacted for at least six more months, up from only about 10 percent last April. Overall decreases in spending are expected to soften after the pandemic, but most categories will likely see spending declines linger for the long term.
These exhibits are based on survey data collected in the Philippines from April 17 to 20, and October 1 to 12, 2020.
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.
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.
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.
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.
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.
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.
Argentine consumers remain concerned about the economy and taking care of their families during the COVID-19 crisis.
These exhibits are based on survey data collected in Argentina from September 1–11, 2020. Check back for regular updates on Argentines’ consumer sentiments, behaviors, income, spending, and expectations.
Filipino consumers generally remained as optimistic in October as they were in April; however, optimism among lower-income groups declined significantly.
As the government’s COVID-19 restrictions ease, Filipino consumers are cautiously resuming spending activity. While overall optimism remained the same from April to October, optimism in the lowest income group dropped significantly, while those in the highest income group increased. Optimism among 20- to 24-year-olds also declined. Additionally, approximately 50 percent of respondents believe their finances will be impacted for at least six more months, up from only about 10 percent last April. Overall decreases in spending are expected to soften after the pandemic, but most categories will likely see spending declines linger for the long term.
These exhibits are based on survey data collected in the Philippines from April 17 to 20, and October 1 to 12, 2020.
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.
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.
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 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
In Qatar, the prevailing sentiment is uncertainty about the health of family members and the duration of the COVID-19 crisis. Although consumers are optimistic about the country’s economic recovery after the COVID-19 situation subsides, they are cutting their spending on almost all categories. During the crisis, consumers have both adopted and increased their usage of digital activities such as remote learning, videoconferencing, and contactless delivery and pickup of food and supplies.
These exhibits are based on survey data collected in Qatar from April 24–May 1, 2020. Check back for regular updates on Qatari residents’ consumer sentiments, behaviors, income, spending, and expectations.
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.
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.
After steadily improving, Japanese consumer optimism stabilizes and a majority of consumers remain cautious about returning to out-of-home activities.
These exhibits are based on survey data collected in Japan from October 15 to 22, 2021. Check back for regular updates on Japanese 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.
Spanish consumers’ overall economic pessimism has decreased since November, but caution about engaging in out-of-home activities continues.
These exhibits are based on survey data collected in Spain from February 23–27, 2021. Check back for regular updates on Spanish 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
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.
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.
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.
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
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
Consumers in the Dominican Republic are concerned about the COVID-19 crisis and uncertain about its impact on the economy. Over 50 percent of consumers have mixed feelings about economic recovery.
These exhibits are based on survey data collected in the Dominican Republic from September 1–29, 2020. Check back for regular updates on consumer sentiments, behaviors, income, spending, and expectations.
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.
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.
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.
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 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.
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 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
In Qatar, the prevailing sentiment is uncertainty about the health of family members and the duration of the COVID-19 crisis. Although consumers are optimistic about the country’s economic recovery after the COVID-19 situation subsides, they are cutting their spending on almost all categories. During the crisis, consumers have both adopted and increased their usage of digital activities such as remote learning, videoconferencing, and contactless delivery and pickup of food and supplies.
These exhibits are based on survey data collected in Qatar from April 24–May 1, 2020. Check back for regular updates on Qatari residents’ consumer sentiments, behaviors, income, spending, and expectations.
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.
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.
After steadily improving, Japanese consumer optimism stabilizes and a majority of consumers remain cautious about returning to out-of-home activities.
These exhibits are based on survey data collected in Japan from October 15 to 22, 2021. Check back for regular updates on Japanese 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.
Spanish consumers’ overall economic pessimism has decreased since November, but caution about engaging in out-of-home activities continues.
These exhibits are based on survey data collected in Spain from February 23–27, 2021. Check back for regular updates on Spanish 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
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.
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.
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.
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
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
Consumers in the Dominican Republic are concerned about the COVID-19 crisis and uncertain about its impact on the economy. Over 50 percent of consumers have mixed feelings about economic recovery.
These exhibits are based on survey data collected in the Dominican Republic from September 1–29, 2020. Check back for regular updates on consumer sentiments, behaviors, income, spending, and expectations.
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.
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.
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.
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 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.
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.
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 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
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.
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.
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.
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
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.
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.
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.
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.
In China, almost all consumers have already returned to normal out-of-home activities, and 97 percent of respondents report working outside the home in the two weeks prior to being surveyed.
These exhibits are based on survey data collected in China from Feb. 20 to March 8, 2021. Check back for regular updates on Chinese 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.
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.
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
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.
Similar to McKinsey Survey: European consumer sentiment during the coronavirus crisis (20)
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
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McKinsey Survey: European consumer sentiment during the coronavirus crisis
1. McKinsey & Company 1
We have seen six fundamental shifts to consumer behavior,
some of which will have a lasting impact
Source: McKinsey & Company COVID-19 Europe Consumer Pulse Survey 2/23–2/27/2021, n = 5,139 (France, Germany, Italy, Spain, UK), sampled to match European general population 18+ years
4. Stickiness
of digital
2. Signs of
spend recovery
5. Rebalancing
of homebody
economy
6. Evolution
of loyalty
3. Vaccination
triggering spend
upside at
early stage1
1. Steady overall
optimism
Up to 92%
intend to continue
purchasing online
post-COVID-19
(from those who
currently do)
42%
of consumers expect
“extra” spend in
2021 to reward
themselves
67%
of consumers have
changed stores,
brands or the way
they shop
29%
of consumers have
invested in new uses
of their living space
at home
21%
of consumers are
optimistic about
economic recovery
vs 16% in
November, driven
by the UK
optimism boost
+16 increase in
net spend intent
among vaccinated
people vs those
interested in
vaccination for
Germany, +11 for
Spain, but -3 for UK
1. France, Italy not included.
2. McKinsey & Company 2
Confidence in own country’s economic recovery after COVID-191
% of respondents
European countries are less optimistic than most other markets
Steady overall optimism
1. Q: What is your overall confidence level surrounding economic conditions after the coronavirus (COVID-19) crisis subsides (i.e., once there is herd immunity)? Rated from 1 “very optimistic” to 6 “very pessimistic.” Bars may not sum to 100%
due to rounding.
Source: McKinsey & Company COVID-19 Consumer Pulse Survey
10 14 14 18 17
32
21
31
20
37
43
45 46
53 59
50
62
52 67
61
47 41 39
30 24 18 17 17 12
2
25
71
4
‘Optimistic’ change vs November
survey, percentage point +9
+9 +3 +6 +13 +7
0 +4 +3 +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/
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
Brazil
2/20–3/1
Germany
2/23–27
UK
2/23–27
Spain
2/23–27
Italy
2/23–27
France
2/23–27
Japan
2/24–27
US
2/18–22
India
2/20–3/3
China
2/20–3/8
Mexico
2/20–3/2
3. McKinsey & Company 3
Confidence in own country’s economic recovery after COVID-191
% of respondents
1. Q: How is your overall confidence level in economic conditions after the COVID-19 situation? Rated from 1 “very optimistic” to 6 “very pessimistic”; figures may not sum to 100% because of rounding.
Optimism regarding European economic recovery has stabilized at
the same level seen in April, at the height of the first virus wave
Steady overall optimism
29% 32% 30% 31% 32% 32% 30% 31% 31%
24%
52%
52% 54% 55% 53% 54%
55% 53%
55%
19% 16% 16% 14% 15% 14% 15% 14% 16%
21%
June 18–21
Mar 20–22 Mar 26–29 Apr 2–5 April 30–May 3
April 16–19 Sept 24–27
May 21–24
55%
Nov 9–16 Feb 23–27
Source: McKinsey & Company COVID-19 Europe Consumer Pulse Survey 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 European general population 18+ years
Europe
2020 2021
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/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
4. McKinsey & Company 4
Confidence levels have slightly increased in most markets, with the
strongest improvement in the United Kingdom
Steady overall optimism
1. Q: How is your overall confidence level on economic conditions after the COVID-19 situation? Rated from 1 “very optimistic” to 6 “very pessimistic.”
Source: McKinsey & Company COVID-19 Europe Consumer Pulse Survey 2/23–2/27/2021, n = 5,139 (France, Germany, Italy, Spain, UK), sampled to match European general population 18+ years
37 40
34 35 37
32
51
49
49
53 52
50
12 11
17 12 11
18
Nov
9-16
Sept
24-27
April
30-
May
3
Feb
23-27
May
21-24
June
18-21
17 16 16 17 18 17
60 64 63
66
59
23 20 21 17
23 24
Feb
23-27
May
21-24
June
18-21
Apr
30-
May
3
Sept
24-27
Nov
9-16
59
35 37
31
26
33
21
51 49
57
60
54
62
14 14 12 14 13 17
Jun
18-21
May
21-
May
24
Apr
30-
May
3
Sep
24-27
Nov
9-16
Feb
23-27
42 39 39 42 40
31
43 47 48
47
47
52
15 13 13 11 14
17
Apr
30 -
May
3
May
21-24
Jun
18-21
Nov
9-16
Sep
24-27
Feb
24-26
24
35
30
37
31
18
58
50
55
47
52
53
18 15 15 17 17
30
Nov
9-16
May
21-24
April
30-
May
3
Feb
18-
22
June
18-21
Sept
24-27
Optimistic Mixed Pessimistic
Confidence in own country’s economic recovery after COVID-191
% of respondents
UK France
Germany Italy
Spain
5. McKinsey & Company 5
Household income1
% of respondents
Household spending1
% of respondents
Household savings1
% of respondents
European consumers experienced increased spending and savings
in February, but no change in income since September
Steady overall optimism
Source: McKinsey & Company COVID-19 Europe Consumer Pulse Survey 2/23–2/27/2021, n = 5,139 ; 11/9–11/16/2020, n = 5,232; 9/24–9/27/2020, n = 5,338 (France, Germany, Italy, Spain, UK),
sampled to match European general population 18+ years
1. Q: How has the coronavirus (COVID-19) crisis affected your (household) income, overall household spending, and amount of income put away as savings over the past two weeks? Figures may not sum to 100% because of rounding.
Increase slightly/a lot
Reduce slightly/a lot About the same
31%
3% 3%
65%
Past 2 weeks Past 2 weeks
64%
33%
4%
64%
33%
Past 2 weeks
13%
Past 2 weeks Past 2 weeks
11%
52%
37%
50%
37%
16%
48%
36%
Past 2 weeks
19%
17% 17%
54%
Past 2 weeks
33%
29%
Past 2 weeks
50% 49%
32%
Past 2 weeks
Sept 24–27 Nov 9–16 Feb 23–27 Sept 24–27 Nov 9–16 Feb 23–27 Sept 24–27 Nov 9–16 Feb 23–27
6. McKinsey & Company 6
Consumers engaging in “normal” out-of-home activities1
% of respondents
Consumers are still constrained by restrictions preventing
resumption of ‘normal’ out-of-home activities
Steady overall optimism
Overall
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. Members of Gen Z were born from 1997–2012, millennials from 1981–1996, Gen X from 1965–1980, and baby boomers from 1946–1964. The traditionalist/silent generation is not included due to a low sample size.
3. For France, Italy, Spain, and Germany: low income is less than €25,000 per year, medium is €25,000–€49,999, and high is above €50,000. For the UK, low income is less than £25,000 per year, medium is £25,000–£49,999, and high is above £50,000.
11
12
37
27
11
Sep 24–27
Feb 23–27
Nov 9–16
Jun 18–21
May 21–24
Source: McKinsey & Company COVID-19 Europe Consumer Pulse Survey 2/23–2/27/2021, n = 5,139 (France, Germany, Italy, Spain, UK), sampled to match European general population 18+ years
9%
12%
9%
Vaccinated Interested Cautious Unlikely
17%
Low Medium High
12% 10%
11%
Gen X
8%
Baby boomers
20%
Gen Z
13%
Millenials
10%
By income3
By
generation2
By
vaccination
adoption
~17%
of people unlikely to be
vaccinated are doing
out-of-home activities
~20%
of Gen Z are doing
out-of-home activities
~12%
of low-income consumers
are engaging in out-of-
home activities (but limited
distinction vs other groups)
7. McKinsey & Company 7
Consumers will return to out-of-home activities once1 …
% of respondents awaiting each milestone before engaging
More than 60 percent of the population is waiting for restrictions to
be lifted before resuming ‘normal’ out-of-home activities
Steady overall optimism
36
26
23
16
Government
lifts restrictions
Government lifts
restrictions +
other requirements
Vaccination
coverage
COVID-19 no
longer spreading
89%
of people are not
currently engaging
in “normal” out-of-
home activities
Vaccination coverage
Government lifts restrictions and…
1. Q: Which best describes when you will regularly return to stores, restaurants, and other out-of-home activities? Chart rebased to exclude those already participating in these activities and those who do not deem any of these items important.
11%
Medical authorities deem safe
7%
Stores, restaurants, and other
indoor places start taking
safety measures
5%
I see other people returning
9%
Vaccine is widely distributed
9%
I have been vaccinated
2%
Family member(s) vaccinated
Source: McKinsey & Company COVID-19 Europe Consumer Pulse Survey 2/23–2/27/2021, n = 5,139 (France, Germany, Italy, Spain, UK), sampled to match European general population 18+ years
8. McKinsey & Company 8
Meeting family and friends, and dining out are the most missed
activities; most consumers shop in-person for groceries now
47%
35%
Get together with friends
Travel by airplane
41%
Get together with family
17%
Dine at a restaurant or bar
15%
Attend an indoor cultural event
14%
11%
Attend an outdoor event
Stay in a hotel
13%
Go out for family entertainment
12%
Travel more than 2 hrs by car
11%
Visit a crowded outdoor public place
1. Q: Did you leave your house for the following activities over the past two weeks? Responder % is based on those who previously selected “Yes” to having done the activity once per year prior to the COVID-19 crisis.
2. Q: Which of the following activities are you most eager to get back to on a regular basis? Please select the top 3 activities you miss the most.
Source: McKinsey & Company COVID-19 Europe Consumer Pulse Survey 2/23–2/27/2021, n = 5,139 (France, Germany, Italy, Spain, UK), sampled to match European general population 18+ years
Top activities eager to get back to2
% of respondents for whom the activity is in their top 3 choices
87%
shop in-person for groceries,
necessities
53%
work outside home
Most prevalent activities
consumers are engaging in1
% of respondents who did activity
within last 2 weeks
Steady overall optimism
9. McKinsey & Company 9
Expected leisure spend in 20211
% of respondents who plan to splurge or treat themselves
42%
Plan to splurge or
treat themselves
Gen Z
Millennials
Gen X 47%
59%
28%
41%
58%
42%
49%
60% 73%
Generation2 Mid
Low High
Baby boomers
Household income3
26% 31% 38%
1. Q: With regard to products and services you will spend money on, do you plan to splurge/treat yourself in 2021? Figures may not sum to 100% because of rounding.
2. Members of Gen Z were born from 1997–2012, millennials from 1981–1996, Gen X from 1965–1980, and baby boomers from 1946–1964. The traditionalist/silent generation is not included due to a low sample size.
3. For France, Italy, Spain, and Germany: low income is less than €25,000 per year, medium is €25,000–€49,999, and high is above €50,000. For the UK, low income is less than £25,000 per year, medium is £25,000–£49,999,
and high is above £50,000.
Source: McKinsey & Company COVID-19 Europe Consumer Pulse Survey 2/23–2/27/2021, n = 5,139 (France, Germany, Italy, Spain, UK), sampled to match European general population 18+ years
47%
44%
32%
40%
47%
On average, 42 percent of consumers plan to spend extra to splurge
or treat themselves, especially the younger generation
>70%
<30% 50–70%
30–49%
Signs of spend recovery
10. McKinsey & Company 10
Expected leisure categories on which people
plan to splurge or treat themselves in 20211
% of respondents who plan to splurge or treat themselves
57
50
36
31
30
28
24
19
16
Beauty & personal care
Restaurants, dining out, bars
Out of home entertainment
Travel, lodging, & vacation
Apparel, shoes & accessories
Electronics
Items for your home
Fitness, sports, & outdoors
Household essentials
Trigger for when people plan to splurge or treat themselves2
% of respondents who plan to splurge or treat themselves on that category
6
11
34
26
7
37
40
16
30
23
17
13
15
19
15
10
19
13
8
11
8
10
9
12
11
12
12
63
61
45
49
66
36
40
53
46
Anytime
Govt restrictions lifted/COVID-19 stops spreading
I am vaccinated
Family is vaccinated
1. Q: You mentioned that you plan to splurge/treat yourself in 2021. Which categories do you intend to treat yourself to? Please select all that apply.
2. Q: Which best describes when you will most likely splurge/treat yourself? Figures may not sum to 100% because of rounding.
Source: McKinsey & Company COVID-19 Europe Consumer Pulse Survey 2/23–2/27/2021, n = 5,139 (France, Germany, Italy, Spain, UK), sampled to match European general population 18+ years
This extra spend is expected across categories but is tied to the
lifting of government restrictions and the virus subsiding
Signs of spend recovery
11. McKinsey & Company 11
Net intent: Above +1
Net intent: -15 to 0
Net intent: Below -15
Expected spending per category over the next two weeks compared to usual1
% of respondents Net
intent2
-2
+4
+4
+6
+16
+17
+9
+11
+10
+14
-15
-1
+3
+10
+15
-20
N/A3
N/A3
Change since
November 2020
N/A3
+14
+1
+4
+3
+13
+4
+11
+17
+17
-35
+13
+17
+12
+15
+10
+12
+11
7
18
31
31
48
66
47
44
56
54
38
13
9
27
46
45
35
33
15
7
16
8
8
9
8
9
9
15
6
Food takeout & delivery
Restaurant
Alcoholic beverages
6
Groceries
Toys & baby
Tobacco products
Quick-service restaurant
5
5
Footwear
6
Apparel
5
Jewelry
Accessories
Household supplies
6
Personal-care products
Skin care & makeup 6
Home & furniture
Sports & outdoors
Home improvement & garden
Kitchen & dining
Decrease
Stay the same
Increase
-51
8
-30
-5
-37
-11
-15
-23
-40
-60
-42
-37
-50
-3
-21
-35
-19
-27
9
22
13
26
42
68
27
51
41
34
44
65
48
66
67
75
73
71
9
13
8
7
9
7
9
9
8
9
Pet food & supplies
Domestic flights
Books/magazines/newspapers
Entertainment at home
Vitamins & OTC medicine
6
Consumer electronics
6
Out-of-home entertainment
Hotel/resort stays
6
Pet-care services
Fitness & wellness
Personal-care services
Gasoline
Vehicles
6
Short-term home rentals
4
Travel by car
Cruises
7
Adventures & tours
4
International flights
5
-3
0
-17
-35
-62
-22
-42
-34
-26
-60
-40
-58
-60
-71
-69
-66
-12
-35
1. Q: Over the next two weeks, do you expect that you will spend more, about the same, or less money on these categories than usual? Figures may not sum to 100% because of rounding.
2. Net intent is calculated by subtracting the % of respondents stating they expect to decrease spending from the % of respondents stating they expect to increase spending.
3. Data not available or insufficient sample (n = < 50) in November 2020 survey.
Source: McKinsey & Company COVID-19 Europe Consumer Pulse Survey 2/23–2/27/2021, n = 5,139 (France, Germany, Italy, Spain, UK), sampled to match European general population 18+ years
Spending intent outside of the grocery category remains negative,
however less negative as compared to November
Net
intent2
Change since
November 2020
Signs of spend recovery
12. McKinsey & Company 12
-20
-70
-80
-90
-60
-50
-40
-30
-10
0
10
20
Feb
23
Sep
24
Mar
17
Aug
23
Mar
29
Mar
22
May
10
May
17
May
24
Nov
9
Expected spending per category over the next two weeks compared to usual1
Net intent2
Source: McKinsey & Company COVID-19 Europe Consumer Pulse Survey 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 European general population 18+ years
Groceries
Consumer electronics
Household supplies
Skin care & makeup
Fitness & wellness
Personal-care products
Apparel
Out-of-home entertainment
Domestic flights
International flights
Net spending intent is picking up in most categories, including
discretionary categories, though it remains negative
1. Q: Over the next two weeks, do you expect that you will spend more, about the same, or less money on these categories than usual? Figures may not sum to 100% because of rounding.
2. Net intent is calculated by subtracting the % of respondents stating they expect to decrease spending from the % of respondents stating they expect to increase spending.
Signs of spend recovery
13. McKinsey & Company 13
Source: McKinsey & Company COVID-19 Europe Consumer Pulse Survey 2/23–2/27/2021, n = 5,139 (France, Germany, Italy, Spain, UK), sampled to match European general population 18+ years
Although still negative, net spending intent is picking up in most
categories, including discretionary categories
1. Q: Over the next two weeks, do you expect that you will spend more, about the same, or less money on these categories than usual?
2. Q: Once the COVID-19 crisis subsides (i.e., once there is herd immunity), do you expect that you will spend more, about the same, or less money on these categories than during the COVID-19 pandemic?
3. Net intent is calculated by subtracting the % of respondents stating they expect to decrease spending from the % of respondents stating they expect to increase spending.
-15 to 0 Below -15
Above +1 Below 0
Above +25 +15 to +25 0 to +15
Net intent3
Next 2
weeks
Post-
COVID-19 Evolution
Pet food & supplies -3 -1
Vitamins & OTC medicine -12 -5
Domestic flights -66 12
Hotel/resort stays -69 22
Adventures & tours -60 26
Out-of-home entertainment -62 25
Pet-care services -22 -5
Fitness & wellness -42 9
Personal-care services -34 4
Gasoline -26 16
Short-term home rentals -60 18
Cruises -58 -1
Travel by car -40 19
International flights -71 15
Books/magazines/newspapers -17 -8
Consumer electronics -35 -10
Entertainment at home 0 -7
Vehicles -35 -9
Expected spending per category over the next two weeks1 compared to post COVID-192
% of respondents Net intent3
Post-
COVID-19
Next 2
weeks Evolution
Groceries 0
8
Toys & baby -9
-30
Tobacco products -10
-11
Food takeout & delivery -23
-15
Alcoholic beverages -7
-23
Accessories -11
-50
Household supplies -2
-5
Apparel 0
-37
Quick service restaurant -8
-40
Footwear -5
-42
Home improvement & gardening -2
-19
Restaurant 22
-60
Personal-care products 1
-3
Skin care & makeup 0
-21
Sports & outdoors -5
-35
Home & furnishings -11
-37
Jewelry -19
-51
Kitchen & dining goods -8
-27
Signs of spend recovery
14. McKinsey & Company 14
People interested in the vaccine are more confident that their finances
will return to normal by 2021 end, but less optimistic about routines
Expectations on routines returning to normal1,3
% of respondents
Expectations on finances returning to normal2,3
% of respondents
45
44
34
34
36
29
36
34 68
73
81
70
6
6
8
16
64
52
53
45
Cautious
Vaccinated
61
Interested 58
Unlikely
61
70
X% % of respondents
9%
52%
21%
18%
1. Q: When do you expect your routines will return to normal? Figures may not sum to 100% because respondents who answered “2022 and beyond” are not shown here.
2. Q: When do you expect your personal/household finances will return to normal? Figures may not sum to 100% because Figures may not sum to 100% because respondents who answered “by 2022 and beyond” are not shown here.
3. Q: How likely are you to get the coronavirus vaccine once it is made available to you? Rated from 1 “not at all likely” to 6 “very likely,” including “I have received the first dose of the vaccine (partially vaccinated)” and “I have already received
both doses of the vaccine (fully vaccinated).” Bars may not sum to 100% due to rounding. Respondents who stated “Very likely” (6) and “Likely” (5) are considered “interested”; respondents who stated “Somewhat likely” (4) or “Somewhat
unlikely” (3) are considered “cautious”; respondents who stated “Unlikely” (2) or “Very unlikely” (1) are considered “unlikely.”
Already back to normal By Dec 21
Source: McKinsey & Company COVID-19 Europe Consumer Pulse Survey 2/23–2/27/2021, n = 5,139 (France, Germany, Italy, Spain, UK), sampled to match European general population 18+ years
Vaccination triggering spend upside at early stage
15. McKinsey & Company 15
Increase in net spend intent of vaccinated people compared to those
‘interested’ in vaccination is highest for Germany and Spain
1. Q: How likely are you to get the coronavirus vaccine once it is made available to you? Rated from 1 “not at all likely” to 6 “very likely,” including “I have received the first dose of the vaccine (partially vaccinated)” and “I have already received
both doses of the vaccine (fully vaccinated).” Bars may not sum to 100% due to rounding. Respondents who stated “Very likely” (6) and “Likely” (5) are considered “interested”; respondents who stated “Somewhat likely” (4) or “Somewhat
unlikely” (3) are considered “cautious”; respondents who stated “Unlikely” (2) or “Very unlikely” (1) are considered “unlikely.”
2. 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.
3. Q: Over the next 2 weeks, do you expect that you will spend more, about the same or less money on these categories than usual?
4. Net intent is calculated by subtracting the % of respondents stating they expect to decrease spending from the % of respondents stating they expect to increase spending. It is then multiplied by the % of people who respond as typically
purchasing in that category, to effectively weight the average across categories.
5. Small sample sizes (n =< 50) for Germany and Spain.
Source: McKinsey & Company COVID-19 Europe Consumer Pulse Survey 2/23–2/27/2021, n = 5,139 (France, Germany, Italy, Spain, UK), sampled to match European general population 18+ years
Vaccination status1
% of respondents
Already engaging in out-of-home activity2 Net spend intent next 2 weeks over usual3,4
9
52
21
18
Vaccinated5
Interested
Unlikely
Cautious
8%
3%
6%
9%
6%
5%
14%
25%
25%
15%
21%
25% -23
-20
-29
-32
-3
-9
+3
-10
-26
-23
-27
+16
-3
+4
-18
-29
-29
-31
+11
0
+2
Below -10
Net intent difference in
percentage points
Vaccination triggering spend upside at early stage
-10 to 0 Above 0
16. McKinsey & Company 16
Consumers expect to continue with the new digital behaviors they
have developed during the pandemic
3. In-home entertainment and
wellness digital activities
to stay
2. New online buying solutions
are likely to stay, less so for
novel delivery services
1. Increased online purchases
~2 in 3
categories, consumer intend to sustain their
level of online buying post-COVID-19,
especially travel, entertainment, and
personal care
67%
of consumers currently using a wellness
app intend to continue post-COVID-19
62%
of consumers currently buying online
on social media intend to continue
post-COVID-19
vs
69%
of consumers currently streaming online
intend to continue post-COVID-19
29%
of consumers using restaurant curbside
pickup services
Source: McKinsey & Company COVID-19 Europe Consumer Pulse Survey 2/23–2/27/2021, n = 5,139 (France, Germany, Italy, Spain, UK), sampled to match European general population 18+ years
Stickiness of digital
17. McKinsey & Company 17
Ninety-two percent of consumers intend to continue buying online,
especially in the most-purchased categories
48
47
39
57
70
35
67
23
22
41
59
55
82
Personal-care products
Alcoholic beverages
Food takeout
Groceries
Household supplies
Apparel
Footwear
Meal at restaurant
Personal-care services
Quick-service restaurant
Books / magazines / newspapers
Skin care & makeup
Entertainment at home
15
15
39
24
20
27
34
10
23
-2
10
62
40
58
37
62
60
43
42
49
38
64
67
33
55
45
38
51
55
31
45
57
35
69
65
85
15
30
69
94%
currently purchasing
online4
92%
intend to continue
purchasing online
post-COVID-194
Purchase online after COVID-19
Net intent5
after COVID-19
% of online purchase during COVID-19
for most purchased categories
0 to 20
Above 50
21 to 50
Below 0
Net intent5
Since start of
COVID-19
Decrease
or stop
Increase or
stay the same
1. Q: Before the coronavirus (COVID-19) situation started, what proportion of your purchases in this category were online vs from a physical store/in person? Includes respondents who chose “some online,” “most online,” and “all online.”
2. Q: Have you purchased the following categories online since the coronavirus (COVID-19) began? Please select “yes” or “no” for each category. Includes respondents who selected “Yes” for the category.
3. Q: Will you continue to purchase these categories online after the coronavirus (COVID-19) situation subsides (i.e., once there is herd immunity)?: “No, I will stop purchasing online altogether”; “buy less online”; “buy about the same amount
online;” and “buy more online.”
4. Number indicates respondents who chose at least one category that they purchase online.
5. Net intent is calculated by subtracting the % of respondents stating they expect to decrease or stop use from the % of respondents stating they expect to increase or maintain use.
Consumers’ use of online channel during, and after COVID-191,2,3
% of respondents
Source: McKinsey & Company COVID-19 Europe Consumer Pulse Survey 2/23–2/27/2021, n = 5,139 (France, Germany, Italy, Spain, UK), sampled to match European general population 18+ years
Stickiness of digital
18. McKinsey & Company 18
10
51
42
41
39
54
69
42
31
24
10
59
74
65
70
72
Consumers intend to purchase more online post-COVID-19 across
the majority of categories
48%
32%
67%
35%
41%
23%
57%
70%
48%
47%
68%
39%
47%
55%
54%
55%
51%
42%
Restaurant
Groceries
Quick-service restaurant
Tobacco products
Alcoholic beverages
Food takeout & delivery
Apparel
Footwear
Jewelry
Personal-care products
Accessories
Toys & baby
Household supplies
Skin care & makeup
Home & furniture
Sports & outdoors
Home improvement & gardening
Kitchen & dining
54%
49%
82%
59%
69%
21%
32%
32%
22%
41%
22%
24%
24%
33%
32%
20%
Consumer electronics
Pet food & supplies
Vitamins & OTC medicine
Entertainement at home
Pet-care services4
Hotel/resort stays
Books/magazines/newspapers
Entertainment at home
Fitness & wellness4
Personal-care services
Short-term home rentals
Cruises
Adventures & tours
International flights
Domestic flights
Vehicles
Net intent3
post-COVID-19
Since COVID-19 began
Net intent3
post-COVID-19
20
23
17
23
10
15
15
-2
34
17
27
30
24
30
31
21
39
24
Above 50
0 to 20
Below 0 21 to 50
Net intent3
1. Q: Have you purchased the following categories online since the coronavirus (COVID-19) began? Please select yes or no for each category. Includes % respondents who selected “yes” for the category and currently buying the category.
2. Q: Will you continue to purchase these categories online after the coronavirus (COVID-19) situation subsides (i.e., once there is herd immunity)? Possible answers: “no I will stop purchasing online altogether”; “buy less online”; “buy about the
same amount online”; “buy more online.”
3. Net intent is calculated among respondents currently buying online by subtracting the % of respondents stating they expect to decrease or stop use from the % of respondents stating they expect to increase or maintain use.
Consumers’ use of online channel during1 and after2 COVID-19
% of respondents buying this category
Source: McKinsey & Company COVID-19 Europe Consumer Pulse Survey 2/23–2/27/2021, n = 5,139 (France, Germany, Italy, Spain, UK), sampled to match European general population 18+ years
Stickiness of digital
19. McKinsey & Company 19
Most categories will benefit from lasting online penetration,
especially entertainment and consumer electronics
1. Q: Will you continue to purchase these categories online after the COVID-19 situation subsides (i.e., once there is herd immunity)? Possible answers: “no, I will stop purchasing online altogether”; “buy less online”; “buy about the same amount
online”; and “buy more online.” Number indicates net intent, calculated by subtracting % of respondents stating they expect to decrease or stop use from % of respondents stating they expect to increase or maintain use.
2. Q: Have you purchased the following categories online since the coronavirus (COVID-19) began? Please select yes or no for each category. Includes % respondents who selected “Yes” for the category.
Note: Thresholds of categories are defined by the terciles. The 1st tercile of Intent occurs at 62%, and the 2nd occurs at 66%.
Source: McKinsey & Company COVID-19 Europe Consumer Pulse Survey 2/23–2/27/2021, n = 5,139 (France, Germany, Italy, Spain, UK), sampled to match European general population 18+ years
Greater online presence
Less-accelerated online shift Sustained shift to online
Intent to continue to purchase online after COVID-191
Percent of users who intend to keep doing activity after COVID-19 at same or higher level
Penetration
since
COVID-19
2
80
50
70 80
60
Footwear
Fitness & wellness
Skin care & makeup
Jewelry
Food takeout & delivery
Alcoholic beverages
Toys & baby
Accessories
Pet food & supplies
Household supplies
Tobacco products
Personal-care services
Sports & outdoors
Home & furniture
Home improvement & gardening
Consumer electronics
Kitchen & dining
Vitamins & OTC medicine
Apparel
Groceries
Entertainment at home
Books/magazines/newspapers
Stickiness of digital
20. McKinsey & Company 20
11%
7%
2%
2%
2%
8%
10%
3%
6%
2%
4%
12%
4%
1%
19%
16%
2%
2%
4%
9%
8%
7%
13%
4%
9%
8%
4%
6%
8%
2%
1%
2%
2%
2%
7%
7%
5%
5%
2%
2%
Quick-serve restaurant drive-thru
In-store self-checkout
Restaurant delivery
Restaurant curbside pickup
Pay more for one-hour delivery
Grocery delivery
Meal-kit delivery
Used deal-finding plug-ins
Pay more for same-day delivery
Buy online for in-store pickup
Store curbside pickup
Used a new store/restaurant app
Purchased pre-owned products
Purchased directly from social media
1%
2%
Using same/less Using more Just started using
43%
47%
52%
45%
80%
29%
53%
37%
56%
73%
63%
77%
40%
40%
Consumers continue to try delivery and pickup services for the first
time, and to intensify their use of the services
Intent to
continue,2 %
Have you used or done any of the following since COVID-19 started1
% of respondents currently using/doing
1. Q: Have you used or done any of the following since the coronavirus (COVID-19) crisis started? If yes, Q: Which best describes when you have done or used each of these items? Possible answers: “just started using since COVID-19 started”;
“using more since COVID-19 started”; “using about the same since COVID-19 started”; “using less since COVID-19 started.”
2. Q: Compared to now, will you do or use the following more, less, or not at all, once the coronavirus (COVID-19) ) crisis subsides (i.e., once there is herd immunity)? Possible answers: “will stop this”; ”will reduce this”; “will keep doing what I am
doing now”; “will increase this.” Number indicates respondents who chose “will keep doing what I am doing now” and “will increase this” among new or increased users. Number indicates respondents who chose “will keep doing what I am doing
now” and “will increase this” among new or increased users.
Source: McKinsey & Company COVID-19 Europe Consumer Pulse Survey 2/23–2/27/2021, n = 5,139 (France, Germany, Italy, Spain, UK), sampled to match European general population 18+ years
Stickiness of digital
21. McKinsey & Company 21
However, less than half of consumers intend to stick with
restaurant pickup and delivery once the pandemic subsides
Source: McKinsey & Company COVID-19 Europe Consumer Pulse Survey 2/23–2/27/2021, n = 5,139 (France, Germany, Italy, Spain, UK), sampled to match European general population 18+ years
1. Q: Compared to now, will you do or use the following more, less, or not at all, once the coronavirus (COVID-19) ) crisis subsides (i.e., once there is herd immunity)? Possible answers: “will stop this”; ”will reduce this”; “will keep doing what I am
doing now”; “will increase this.” Number indicates respondents who chose “will keep doing what I am doing now” and “will increase this” among new or increased users.
2. Q. Which best describes when you have done or used each of these items? Possible answers included: “Just started using since coronavirus started”; “Using more since coronavirus started”; “Using less since coronavirus started”; “Using about
the same since coronavirus started.” Possible answers not included: “not using.”
3. Median values of the data set are used as the inflection points. Penetration median = 17%, intent to use median = 52%.
5
55
45
40
35
15
25
35
50
25
30 60 65 70 75 80
In-store
self-checkout
Used deal-finding plug-ins
Pay more for
two-hour delivery
Restaurant delivery
Grocery delivery
Meal-kit delivery
Pay more for
same-day delivery
Quick-serve restaurant
drive-thru
Store curbside pickup
Restaurant curbside pickup
Buy online for
in-store pickup
Purchased
pre-owned products
Used a new store/restaurant app
Purchased directly from social media
Intent to use after COVID-191,3
Percent of users who intend to keep doing activity after COVID-19
Penetration
since
COVID-19
2,3
Accelerated by COVID-19
~55–75% of
consumers expect
to continue digital
with COVID-19
acceleration
Disruptive growth
~45–55% of
consumers expect
to continue digital
activities with
more disruptive
growth during
COVID
Emphasized by COVID-19
Limited shift with
COVID-19
User growth: 0–19% User growth: 20–39% User growth: 40–59% User growth: 60%+
Stickiness of digital
22. McKinsey & Company 22
70%
43%
39%
54%
39%
43%
52%
67%
49%
63%
55%
80%
68%
49%
56%
50%
17%
2%
5%
3%
3%
2%
27%
9%
4%
6%
25%
11%
32%
11%
17%
7%
4%
2%
6%
5%
29%
11%
7%
8%
29%
11%
5%
14%
10%
7%
5%
4%
6%
4%
2%
1%
2%
2%
6%
3%
5%
Remote learning: my children
Videoconferencing: professional
Online streaming
Video chat: personal
2%
Remote learning: myself
1%
Telemedicine: physical
Online fitness
Wellness app
Cooked regularly for myself/my family
TikTok
1%
Social media
1%
Telemedicine: mental
2%
1%
Digital exercise machine
Playing online games
2%
Watching e-sports
Personal care/grooming at home
At-home activities such as online streaming, social media, and
cooking have increased, and videoconferencing is gaining usage
Using same/less Using more Just started using
1. Q: Have you used or done any of the following since the coronavirus (COVID-19) crisis started? If yes, Q: Which best describes when you have done or used each of these items? Possible answers: “just started using since COVID-19 started”;
“using more since COVID-19 started”; “using about the same since COVID-19 started”; “using less since COVID-19 started.”
2. Q: Compared to now, will you do or use the following more, less, or not at all, once the coronavirus (COVID-19) crisis subsides (i.e., once there is herd immunity)? Possible answers: “will stop this”; ”will reduce this”; “will keep doing what I am
doing now”; “will increase this.” Number indicates respondents who chose “will keep doing what I am doing now” and “will increase this” among new or increased users.
Source: McKinsey & Company COVID-19 Europe Consumer Pulse Survey 2/23–2/27/2021, n = 5,139 (France, Germany, Italy, Spain, UK), sampled to match European general population 18+ years
Have you used or done any of the following since COVID-19 started1
% of respondents currently using/doing Intent to continue2 %
Stickiness of digital
23. McKinsey & Company 23
44
41
38 39 42
55
50
43
40 55
45 46 47 78
60
48 66
49 50 51
35
67
52 53 59
54 65
56 76
57 58 61 62 63 64 70
45
77
68 69 71 81
72
25
0
73 74 75 79 80
5
15
Video conferencing:
Professional
Telemedicine:
Mental
Online streaming
Digital exercise machine
Video chat:
Personal
Online fitness
Remote learning:
Myself
Remote learning:
My children
Telemedicine:
Physical
Used social media
Playing online
games
TikTok Watching e-sports
Cooked regularly
Personal care/grooming
at home
Wellness app
1. Q: Compared to now, will you do or use the following more, less, or not at all, once the coronavirus (COVID-19) ) crisis subsides (i.e., once there is herd immunity)? Possible answers: “will stop this”; ”will reduce this”; “will keep doing what I am
doing now”; “will increase this.” Number indicates respondents who chose “will keep doing what I am doing now” and “will increase this” among new or increased users.
2. Q. Which best describes when you have done or used each of these items? Possible answers included: “just started using since coronavirus started”; “using more since coronavirus started”; “using less since coronavirus started”; “using about
the same since coronavirus started.” Possible answers not included: “not using.”
3. Median values of the data set are used as the inflection points. Penetration median = 17%, intent to use median = 52%.
New entertainment and wellness habits show strong lasting power,
unlike videoconferencing, telemedicine, and remote learning
Source: McKinsey & Company COVID-19 Europe Consumer Pulse Survey 2/23–2/27/2021, n = 5,139 (France, Germany, Italy, Spain, UK), sampled to match European general population 18+ years
Intent to use after COVID-191,3
Percent of users who intend to keep doing activity after COVID-19
Emphasized by COVID-19
Limited shift with
COVID-19
Accelerated by COVID-19
~65–75% of
consumers expect
to continue current
level of digital
wellness
accelerated during
COVID-19
~40–55% of
consumers expect
to continue current
level of remote
communication,
learning, health
platforms with
disruptive
COVID-19 growth
Disruptive growth
User growth: 0–19% User growth: 20–39% User growth: 40–59% User growth: 60%+
Penetration
since
COVID-19
2,3
Stickiness of digital
24. McKinsey & Company 24
About one-third of consumers made major life changes involving
their work setup and home renovation
1. Q: Which of the following have you done in the last 12 months as a result of the COVID-19 crisis? 40% consumers selected “none of these.”
2. For France, Italy, Spain, and Germany: low income is less than €25,000 per year, medium is €25,000–€49,999, and high is above €50,000. For the UK, low income is less than £25,000 per year, medium is £25,000–£49,999, and high is above
£50,000.
Set up a specific work-from-home space
Decided to change jobs
Reassessed my investment portfolio
Bought a car
Went back to school
Worked more from home
Renovated/remodeled my home
2%
3%
Set up a gym at home
Bought a property
Sold a property
Permanently moved to a new city
8%
Permanently moved to the countryside
Moved into a bigger home
6%
Permanently moved in with family
Moved into a smaller home
Permanently moved to the suburbs
Got a new pet at home (e.g., dog, cat)
3%
29%
8%
14%
12%
11%
8%
2%
1%
3%
2%
2%
8%
Pet adoption 8%
Home
renovation
29%
Investments/
Divestments
18%
House move 10%
of which
38%
are high-income2 group
(vs 24% in total
sample3)
Source: McKinsey & Company COVID-19 Europe Consumer Pulse Survey 2/23–2/27/2021, n = 5,139 (France, Germany, Italy, Spain, UK), sampled to match European general population 18+ years
Main life events done in the last 12 months as a result of COVID-191
% of respondents
Work/study
change
36%
Rebalancing of homebody economy
Details next
x% Net % of respondents per category
25. McKinsey & Company 25
13
8
7
1
1
-1
-3
-4
-5
-5
-8
-8
-9
-9
-9
-13
52%
51%
70%
43%
39%
54%
62%
51%
66%
42%
67%
37%
54%
48%
78%
51%
TikTok
Playing online gaming
Telemedicine mental
Personal care/grooming at home
Online fitness
Digital exercice machine
Remote learning: my children
Videoconferencing: professional
Social media
Wellness app
Telemedicine physical
Online streaming
Video chats for personal use
Watching e-sports
Cooked regularly for myself/my family
Remote learning: myself
After COVID-19, 57 percent of European consumers expect to
resume pre-pandemic habits regarding work from home
Plan to continue or increase usage
Prior to COVID-19, only 15% of the European workforce worked from
home (5.4% regularly and 9% occasionally)2
Diff. with those
who did not,4
percentage point
1. Q: Once the COVID-19 crisis subsides (i.e., once there is herd immunity), how do you think the amount of time you spend doing the following activities will change relative to how often you did them before COVID-19 began? Asked of respondents who selected “Worked more
from home" in the Q: Which of the following have you done in the last 12 months as a result of the COVID-19 crisis? Possible answers: "I will not do this at all“; "I will do this less often“; “I will do this about the same“; “I will do this more.“
2. 2020 publication by the European Commission’s science and knowledge service. Figures are for EU 27 countries.
3. Q: Which of the following have you done in the last 12 months as a result of the COVID-19 crisis? Respondents who selected “Worked more from home.“ Q: Compared to now, will you do or use the following more, less or not at all, once the coronavirus (COVID-19) crisis
subsides (i.e., once there is herd immunity)? Respondents who selected: “I will keep doing what I am doing now“ or “I will increase this.“
4. Difference between respondents who selected “Worked more from home“ and those that did not state to work more from home.
21%
57%
19%
3%
Work from home more
Work only from home
Work from home the same
Work outside home more
24%
will either work only
from home or do so
more than before
COVID-19
Source: McKinsey & Company COVID-19 Europe Consumer Pulse Survey 2/23–2/27/2021, n = 5,139 (France, Germany, Italy, Spain, UK), sampled to match European general population 18+ years
Rebalancing of homebody economy
Diff. Above +9 Diff.: 5 to 9 Diff.: Below 0
Diff.: 0 to 4
Use of digital services3
% respondents who worked more from home during the crisis
Work from home after COVID-19 as compared to before
COVID-19,1 % respondents
26. McKinsey & Company 26
Have you done any of the following since COVID-19 started1,2
% of respondents
Sixty-seven percent of consumers have tried a new shopping
behavior since COVID-19 started
36%
33%
26%
25%
23%
Different retailer/store/website
New digital shopping method
New shopping method 3
Different brand
Private label/store brand
67%
of consumers have
tried a new shopping
behavior since
COVID-19 started1
86%
of Gen Z have tried a
new shopping
behavior
1. Q: Since the coronavirus (COVID-19) crisis started, which of the following have you done? 40% consumers selected “none of these.”
2. Q: Which best describes whether or not you plan to continue with these shopping changes once the coronavirus (COVID-19) crisis has subsided (i.e., once there is herd immunity)? Possible answers: “will go back to what I did before
coronavirus”; ”will keep doing both this and what I did before coronavirus”; ”will keep doing this and NOT go back to what I did before coronavirus.”
3. “New shopping method” includes curbside pickup and delivery apps.
4. Intent to continue includes respondents who selected “will keep doing both this and what I did before coronavirus” and “will keep doing this and NOT go back to what I did before coronavirus.”
Source: McKinsey & Company COVID-19 Europe Consumer Pulse Survey 2/23–2/27/2021, n = 5,139 (France, Germany, Italy, Spain, UK), sampled to match European general population 18+ years
79%
69%
85%
86%
82%
Intent to
continue4
Evolution of loyalty
27. McKinsey & Company 27
After value and convenience, supporting local businesses is a top
criteria when choosing where to shop
1. Q: You mentioned you shopped from a new retailer/store/website since the coronavirus (COVID-19) crisis started. What were the main reasons you decided to try this new retailer/store/website? Select up to three.
Reason for shopping at a new retailer/store/website since COVID-19 began1
% of respondents selecting reason in top three
30%
26%
18%
22%
17%
16%
11%
20%
7%
5%
4%
13%
11%
22%
12%
7%
6%
Products are in stock
Shares my values
Better prices/promotions
Less crowded / has shorter lines
Better value
More easily accessible from my home
Better shipping/delivery costs
Offers good delivery/pickup options
Can get all the items I need from one place
Supporting local businesses
Wanted variety/change from my normal routine
Has more sustainable / environmentally friendly options
The company treats its employees well
Wanted to treat myself
Better quality
Offers natural/organic options
Cleaner / has better hygiene measures
Source: McKinsey & Company COVID-19 Europe Consumer Pulse Survey 2/23–2/27/2021, n = 5,139 (France, Germany, Italy, Spain, UK), sampled to match European general population 18+ years
X% Net % of respondents per category
Value 55%
Convenience 53%
Purpose-driven 30%
Availability 23%
Quality/organic 17%
Personal choice 22%
Health/hygiene 6%
37%
of Gen Z but only
27% of Gen X and
baby boomers
selected
purpose-driven
reasons
Evolution of loyalty
28. McKinsey & Company 28
Value drives brand switching across all markets except the United
Kingdom, where quality and availability are key drivers
1. Q: You mentioned you tried a new/different brand than what you normally buy. What were the main reasons that drove this decision? Select all that apply. “Brand” includes different brand, new private label/store brand.
Reason for trying a new brand since COVID-19 began1
% of respondents selecting reason in top three, selected reasons
Source: McKinsey & Company COVID-19 Europe Consumer Pulse Survey 2/23–2/27/2021, n = 5,139 (France, Germany, Italy, Spain, UK), sampled to match European general population 18+ years
Value 67%
Novelty 41%
Purpose-driven 35%
Convenience 22%
32%
Quality/organic
Availability 27%
Personal choice 35%
Better value
Wanted to try a new brand I found
Wanted to try a type of product I’ve never tried
Supporting local businesses
Is more sustainable/better for the environment
Wanted to treat myself
Wanted variety/change from my normal routine
Better quality
Products are in stock
Is available where I’m shopping
Better prices/promotions
X% Net % of respondents per main reason
Top 5 reasons per country
Better shipping/delivery costs
45
38
39 37
11
39
40
39 40
8
16
13
17 19
29
24
29
30 30
26
21
26
32 25
21
12
27
22 23
31
14
18
18 13
12
11
33
21 25
24
16
15
30 19
17
19
19
24 28
35
28
30
31 12
33
18
29
25 18
25
Evolution of loyalty
29. McKinsey & Company 29
Beyond finding value, feeling the need to try something new is an
important driver of brand switching, as is a brand’s purpose
1. Q: You mentioned you tried a new/different brand than what you normally buy. What were the main reasons that drove this decision? Select all that apply. “Brand” includes different brand, new private label/store brand.
2. For France, Italy, Spain, and Germany: low income is less than €25,000 per year, medium is €25,000–€49,999, and high is above €50,000. For the UK, low income is less than £25,000 per year, medium is £25,000–£49,999, and
high is above £50,000.
40%
39%
16%
11%
27%
24%
19%
15%
9%
6%
21%
19%
22%
16%
27%
22%
12%
Better prices/promotions
Is more sustainable/better for the environment
Better value
Better shipping/delivery costs
Supporting local businesses
Larger package sizes
Wanted to try a type of product I’ve never tried before
Wanted to try a new brand I found
Shares my values
The company treats its employees well
Wanted to treat myself
Wanted variety/change from my normal routine
Better quality
Is natural/organic
Products are in stock
Is available where I’m shopping
Cleaner / has better hygiene measures
Reason for trying a new brand since COVID-19 began1
% of respondents selecting reason in top three
Source: McKinsey & Company COVID-19 Europe Consumer Pulse Survey 2/23–2/27/2021, n = 5,139 (France, Germany, Italy, Spain, UK), sampled to match European general population 18+ years
41%
of high-income but
only 32% of
low-income
respondents
selected
purpose-driven
reasons2
Net % of respondents per category
X%
Value 67%
Personal choice 35%
Novelty 41%
Convenience 22%
Purpose-driven 35%
Quality/organic 32%
Health/hygiene 12%
Availability 27%
Evolution of loyalty
30. McKinsey & Company 30
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