The document discusses consumer trends in Italy during October 2021 based on surveys by McKinsey & Company. It finds that optimism about the economic recovery is rising, with 35% expecting recovery within 2-3 months compared to 17% in February. However, over 60% expect routines and finances to return to normal in 2022 or later. While over a third still want to splurge, spending intent has moderated from early 2021. Travel, dining out, and home items see the strongest splurge interest, though all discretionary categories show increased spending intent versus February.
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.
For consumers in France, inflation eclipses other sources of concern. It triggers changes in shopping behaviors as consumers seek better value for money.
French consumers’ optimism regarding the economic recovery is stable at around 14 percent—a level last seen in the depths of COVID-19 lockdowns. Top sources of concern are rising prices (cited by 54 percent), followed by the invasion of Ukraine (13 percent) and climate change (10 percent) and far ahead of COVID-19 (4 percent). Nine out of ten survey respondents perceive high price inflation in the country. These trends have implications for brand and retailer loyalty: of the 73 percent of respondents saying they have tried new shopping behaviors in the last three months, 40 percent say they purchased private labels. Household products remain the category most affected by this trading-down trend.
Australian consumers, in view of the omicron variant, are feeling less optimistic about economic recovery than last year and remain cautious on spending.
In Australia, optimism about economic recovery has declined since the November 2020 pulse survey but remains higher than at the onset of the COVID-19 pandemic. Six in ten consumers predict routines will return to normal only after June 2022; two-thirds do not plan to splurge in 2022. Although Australian households increased their spending in the past month, net intent to spend remains negative. Digital and omnichannel adoption continues in most categories, and intent to use out-of-home services rose. Seventy-five percent of consumers have addressed the rise of omicron by changing how they engage in out-of-home activities. Most consumers have tried a different brand or retailer, especially to switch brands in pursuit of value.
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.
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.
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.
For consumers in France, inflation eclipses other sources of concern. It triggers changes in shopping behaviors as consumers seek better value for money.
French consumers’ optimism regarding the economic recovery is stable at around 14 percent—a level last seen in the depths of COVID-19 lockdowns. Top sources of concern are rising prices (cited by 54 percent), followed by the invasion of Ukraine (13 percent) and climate change (10 percent) and far ahead of COVID-19 (4 percent). Nine out of ten survey respondents perceive high price inflation in the country. These trends have implications for brand and retailer loyalty: of the 73 percent of respondents saying they have tried new shopping behaviors in the last three months, 40 percent say they purchased private labels. Household products remain the category most affected by this trading-down trend.
Australian consumers, in view of the omicron variant, are feeling less optimistic about economic recovery than last year and remain cautious on spending.
In Australia, optimism about economic recovery has declined since the November 2020 pulse survey but remains higher than at the onset of the COVID-19 pandemic. Six in ten consumers predict routines will return to normal only after June 2022; two-thirds do not plan to splurge in 2022. Although Australian households increased their spending in the past month, net intent to spend remains negative. Digital and omnichannel adoption continues in most categories, and intent to use out-of-home services rose. Seventy-five percent of consumers have addressed the rise of omicron by changing how they engage in out-of-home activities. Most consumers have tried a different brand or retailer, especially to switch brands in pursuit of value.
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.
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.
American consumers are navigating a “new normal” of living with COVID-19, embracing at-home testing and the added convenience of virtual care, and seeking new options for how and where they conduct work, according to the latest consumer healthcare insights survey.
Para se preparar para as mudanças de comportamento do consumidor e as novas restrições sanitárias que devem surgir no pós-pandemia, os players do mercado de aviação têm trabalhado com múltiplos cenários e avaliam que a retomada deve começar no contexto doméstico. Confira o material preparado pelos nossos sócios na apresentação do webinar "Os possíveis cenários da indústria de aviação".
Actualizamos el estudio Consumer Pulse, de Bain & Company, en el que monitoreamos los principales cambios y las tendencias en los hábitos de los consumidores en América del Sur durante la pandemia, especialmente en Colombia.
The Rapidly Evolving Landscape of Meal Kits and E-commerce in Food & BeverageL.E.K. Consulting
Consumers are increasingly strapped for time, and when they’re shopping for and preparing fresh, healthy food, every extra minute counts. Here’s where meal kits and e-commerce come in: they give consumers control and the ability to personalize their meals, while saving them valuable time otherwise spent on shopping and food prep.
In this webinar, Rob Wilson, Managing Director at L.E.K. Consulting, and The Food Institute will explore the $150 billion land grab of e-commerce sales in food & beverage and the role of meal kits in this rapidly evolving landscape.
A #COVID19 tem transformado os hábitos de consumo em todo o mundo e impactado diretamente as empresas de varejo, que enfrentam o desafio de contornar as dificuldades operacionais num cenário em que o isolamento social é a medida mais recomendada e o consumidor tem novas demandas a serem atendidas.
L.E.K. Consulting recently surveyed more than 200 U.S. brand managers and packaging stakeholders at consumer packaged goods companies to understand their packaging needs and views on trends driving demand.
The survey focused on topics that include:
- Brand trends and their effect on packaging demand
- Shifts within packaging (e.g., new materials, packaging innovations)
- Perspectives on packaging demand (including forecast spend on packaging for their brands)
This Executive Insights analyzes key findings from this proprietary research
BCG has launched its Telco Sustainability Index, designed to capture the four dimensions most relevant to a telco’s environmental strategy. The index tracks the company’s commitment to sustainability, its emissions intensity and that of its upstream and downstream partners, its elimination of waste, and its customer enablement.
COVID-19’s uneven trajectory has created a slower-than-expected rebound in urban travel worldwide. Some mobility modes, however, are poised to exceed pre-pandemic levels. BCG provides a breakdown of recovery levels in urban mobility by region and mode--and over time.
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.
Brazil Digital Report - 1st Edition By McKinsey & Company and Brazil at Silic...Ana Lucia Amaral
An amazing initiative by McKinsey and Brazil at Silicon Valley: A report that presents an overview of Brazil’s economy, including its innovation, digital and entrepreneurial landscape. Source: https://www.brazilatsiliconvalley.com/brazil-digital-report
#BSV19
Brazil Digital Report - 1st Edition
A first-edition dossier on the Brazilian digital economy
April 8th, 2019
The Report
A comprehensive 191-page report on the Brazilian digital economy, including macroeconomic indicators, Internet trends, investment facts, and data on the overall entrepreneurship and innovation landscape.
The Audience
This report is intended for all those who can play a part in driving the innovation agenda in the country – entrepreneurs, investors, public and private institutions, global business leaders, as well as digital savvy people who are curious about Brazil.
The Methodology
This is a curated compilation of public information and selected proprietary McKinsey data. We aspire to revise it annually with fresh data in order to tell the ongoing story of Brazil’s digital and innovation evolution.
Acknowledgments
McKinsey thanks the support it has received from Brazil at Silicon Valley, a student-led movement that started at Stanford University and whose mission is to improve Brazil’s competitiveness and global relevance through technology and innovation.
Online survey of companies → Goal: Understanding the role of
artificial intelligence (AI) and machine learning across countries
and industries
• Evaluation: Which companies are active leaders in adopting or
piloting AI
Employee Inspiration: How to Create Energy That Drives Better Customer OutcomesQualtrics
Engagement has become the new holy grail for satisfied employees and a key issue for business leaders. But what does it mean to be engaged? Bain & Company is redefining the employee experience with a system for building inspiration through productive team discussions, candid frequent feedback and an outer loop for addressing systemic issues. Inspired employees should be everyone’s priority to fuel customer loyalty and organic, sustainable growth. We will share the results from our latest study, describe the mechanisms required and the behaviors to aspire towards – all key ingredients of a customer centered Employee Inspiration system.
One in four customers is planning to either use branches less or stop visiting branches altogether after the COVID-19 crisis, according to new BCG retail banking consumer “pulse” survey.
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.
Indonesian consumers remain optimistic on the economy, expecting higher incomes and spending. Many tried and plan to keep using digital services and omnichannel methods.
In Indonesia, optimism about future economic conditions increased more than 25 percent over September 2020 from an already high base, boosted by planning for the upcoming holiday season. Eight out of ten consumers say they will dine out, shop for gifts, and redecorate. Out-of-home activities are generally rising but remain far below prepandemic levels. Optimism about the economy is tempered by views of household finances; half predict finances won’t return to normal before June. The loyalty shake-up continues, with 60 percent citing value as their primary reason to try a new brand. New digital behaviors are starting to show evidence of stickiness: 60 percent say they intend to use new shopping methods when the pandemic subsides.
Indonesian consumers remain optimistic on the economy, expecting higher incomes and spending. Many tried and plan to keep using digital services and omnichannel methods.
In Indonesia, optimism about future economic conditions increased more than 25 percent over September 2020 from an already high base, boosted by planning for the upcoming holiday season. Eight out of ten consumers say they will dine out, shop for gifts, and redecorate. Out-of-home activities are generally rising but remain far below prepandemic levels. Optimism about the economy is tempered by views of household finances; half predict finances won’t return to normal before June. The loyalty shake-up continues, with 60 percent citing value as their primary reason to try a new brand. New digital behaviors are starting to show evidence of stickiness: 60 percent say they intend to use new shopping methods when the pandemic subsides.
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.
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.
American consumers are navigating a “new normal” of living with COVID-19, embracing at-home testing and the added convenience of virtual care, and seeking new options for how and where they conduct work, according to the latest consumer healthcare insights survey.
Para se preparar para as mudanças de comportamento do consumidor e as novas restrições sanitárias que devem surgir no pós-pandemia, os players do mercado de aviação têm trabalhado com múltiplos cenários e avaliam que a retomada deve começar no contexto doméstico. Confira o material preparado pelos nossos sócios na apresentação do webinar "Os possíveis cenários da indústria de aviação".
Actualizamos el estudio Consumer Pulse, de Bain & Company, en el que monitoreamos los principales cambios y las tendencias en los hábitos de los consumidores en América del Sur durante la pandemia, especialmente en Colombia.
The Rapidly Evolving Landscape of Meal Kits and E-commerce in Food & BeverageL.E.K. Consulting
Consumers are increasingly strapped for time, and when they’re shopping for and preparing fresh, healthy food, every extra minute counts. Here’s where meal kits and e-commerce come in: they give consumers control and the ability to personalize their meals, while saving them valuable time otherwise spent on shopping and food prep.
In this webinar, Rob Wilson, Managing Director at L.E.K. Consulting, and The Food Institute will explore the $150 billion land grab of e-commerce sales in food & beverage and the role of meal kits in this rapidly evolving landscape.
A #COVID19 tem transformado os hábitos de consumo em todo o mundo e impactado diretamente as empresas de varejo, que enfrentam o desafio de contornar as dificuldades operacionais num cenário em que o isolamento social é a medida mais recomendada e o consumidor tem novas demandas a serem atendidas.
L.E.K. Consulting recently surveyed more than 200 U.S. brand managers and packaging stakeholders at consumer packaged goods companies to understand their packaging needs and views on trends driving demand.
The survey focused on topics that include:
- Brand trends and their effect on packaging demand
- Shifts within packaging (e.g., new materials, packaging innovations)
- Perspectives on packaging demand (including forecast spend on packaging for their brands)
This Executive Insights analyzes key findings from this proprietary research
BCG has launched its Telco Sustainability Index, designed to capture the four dimensions most relevant to a telco’s environmental strategy. The index tracks the company’s commitment to sustainability, its emissions intensity and that of its upstream and downstream partners, its elimination of waste, and its customer enablement.
COVID-19’s uneven trajectory has created a slower-than-expected rebound in urban travel worldwide. Some mobility modes, however, are poised to exceed pre-pandemic levels. BCG provides a breakdown of recovery levels in urban mobility by region and mode--and over time.
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.
Brazil Digital Report - 1st Edition By McKinsey & Company and Brazil at Silic...Ana Lucia Amaral
An amazing initiative by McKinsey and Brazil at Silicon Valley: A report that presents an overview of Brazil’s economy, including its innovation, digital and entrepreneurial landscape. Source: https://www.brazilatsiliconvalley.com/brazil-digital-report
#BSV19
Brazil Digital Report - 1st Edition
A first-edition dossier on the Brazilian digital economy
April 8th, 2019
The Report
A comprehensive 191-page report on the Brazilian digital economy, including macroeconomic indicators, Internet trends, investment facts, and data on the overall entrepreneurship and innovation landscape.
The Audience
This report is intended for all those who can play a part in driving the innovation agenda in the country – entrepreneurs, investors, public and private institutions, global business leaders, as well as digital savvy people who are curious about Brazil.
The Methodology
This is a curated compilation of public information and selected proprietary McKinsey data. We aspire to revise it annually with fresh data in order to tell the ongoing story of Brazil’s digital and innovation evolution.
Acknowledgments
McKinsey thanks the support it has received from Brazil at Silicon Valley, a student-led movement that started at Stanford University and whose mission is to improve Brazil’s competitiveness and global relevance through technology and innovation.
Online survey of companies → Goal: Understanding the role of
artificial intelligence (AI) and machine learning across countries
and industries
• Evaluation: Which companies are active leaders in adopting or
piloting AI
Employee Inspiration: How to Create Energy That Drives Better Customer OutcomesQualtrics
Engagement has become the new holy grail for satisfied employees and a key issue for business leaders. But what does it mean to be engaged? Bain & Company is redefining the employee experience with a system for building inspiration through productive team discussions, candid frequent feedback and an outer loop for addressing systemic issues. Inspired employees should be everyone’s priority to fuel customer loyalty and organic, sustainable growth. We will share the results from our latest study, describe the mechanisms required and the behaviors to aspire towards – all key ingredients of a customer centered Employee Inspiration system.
One in four customers is planning to either use branches less or stop visiting branches altogether after the COVID-19 crisis, according to new BCG retail banking consumer “pulse” survey.
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.
Indonesian consumers remain optimistic on the economy, expecting higher incomes and spending. Many tried and plan to keep using digital services and omnichannel methods.
In Indonesia, optimism about future economic conditions increased more than 25 percent over September 2020 from an already high base, boosted by planning for the upcoming holiday season. Eight out of ten consumers say they will dine out, shop for gifts, and redecorate. Out-of-home activities are generally rising but remain far below prepandemic levels. Optimism about the economy is tempered by views of household finances; half predict finances won’t return to normal before June. The loyalty shake-up continues, with 60 percent citing value as their primary reason to try a new brand. New digital behaviors are starting to show evidence of stickiness: 60 percent say they intend to use new shopping methods when the pandemic subsides.
Indonesian consumers remain optimistic on the economy, expecting higher incomes and spending. Many tried and plan to keep using digital services and omnichannel methods.
In Indonesia, optimism about future economic conditions increased more than 25 percent over September 2020 from an already high base, boosted by planning for the upcoming holiday season. Eight out of ten consumers say they will dine out, shop for gifts, and redecorate. Out-of-home activities are generally rising but remain far below prepandemic levels. Optimism about the economy is tempered by views of household finances; half predict finances won’t return to normal before June. The loyalty shake-up continues, with 60 percent citing value as their primary reason to try a new brand. New digital behaviors are starting to show evidence of stickiness: 60 percent say they intend to use new shopping methods when the pandemic subsides.
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.
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.
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
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
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
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.
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.
Optimism and spend intent returning
Consumer optimism regarding economic conditions after COVID-19 up by more than 50% since February (from 21% to 34%); strongest growth in spend intent for out-of-home entertainment and travel, but most categories are increasing
Indonesian consumers remain optimistic on the economy, expecting higher incomes and spending. Many tried and plan to keep using digital services and omnichannel methods.
In Indonesia, optimism about future economic conditions increased more than 25 percent over September 2020 from an already high base, boosted by planning for the upcoming holiday season. Eight out of ten consumers say they will dine out, shop for gifts, and redecorate. Out-of-home activities are generally rising but remain far below prepandemic levels. Optimism about the economy is tempered by views of household finances; half predict finances won’t return to normal before June. The loyalty shake-up continues, with 60 percent citing value as their primary reason to try a new brand. New digital behaviors are starting to show evidence of stickiness: 60 percent say they intend to use new shopping methods when the pandemic subsides.
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.
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
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.
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
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.
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.
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.
Indian consumers’ optimism has remained high since October 2021 and has reached the highest levels across other Asian markets since COVID-19 started.
Nearly three-quarters of India’s consumers are optimistic about economic recovery, and net intent to spend is growing and positive across many categories. Omnichannel usage continues across the majority of categories, and social-media influence is high, especially for Gen Z and millennials. More than 90 percent are engaging in social media and entertainment platforms. There is an upward trend for new technology, such as crypto and augmented reality/virtual reality, and consumers intend to continue digital activities as the COVID-19 crisis subsides.
About 40 percent of consumers are engaging in out-of-home activities, especially among the vaccinated segment. Most consumers have tried new shopping behaviors such as new retail outlets and new brands.
Indian consumers’ optimism has remained high since October 2021 and has reached the highest levels across other Asian markets since COVID-19 started.
Nearly three-quarters of India’s consumers are optimistic about economic recovery, and net intent to spend is growing and positive across many categories. Omnichannel usage continues across the majority of categories, and social-media influence is high, especially for Gen Z and millennials. More than 90 percent are engaging in social media and entertainment platforms. There is an upward trend for new technology, such as crypto and augmented reality/virtual reality, and consumers intend to continue digital activities as the COVID-19 crisis subsides.
About 40 percent of consumers are engaging in out-of-home activities, especially among the vaccinated segment. Most consumers have tried new shopping behaviors such as new retail outlets and new brands.
Similar to McKinsey Survey: Italian 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.
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.
Pessimism about recovery is at an all-time high in the United Kingdom. Rising prices are the top concern, with consumers significantly trading down in stores and products. UK consumers are feeling great economic uncertainty. With energy and transport costs eating away at consumer savings and non-food spend, the top reasons given by survey participants for economic anxiety are the gas supply, supply-chain shortages, and energy issues. Consumers report the highest perceived price increases in groceries and household supplies, with two-thirds becoming more conscious about energy usage. Half of consumers changed their grocery brands in the last four to six weeks, with trading down a clear trend: price and value were the strongest drivers here.
Rising prices and the Ukraine invasion are top concerns for German consumers, fueling a general slide into economic pessimism.
German consumers are experiencing intense unease regarding the state of the economy and its future outlook—with public sentiment sinking lower than at any time during the COVID-19 pandemic. Survey participants felt the greatest concern about rising prices and the invasion of Ukraine. Spend on groceries and gasoline has soared, even as consumers cut spending in non-essential categories. Almost two-thirds have assumed new shopping behaviors in the last four to six weeks, with more than forty percent trying private-label brands. There’s a clear trade-down trend in stores visited and brands chosen, with prices and value for money as key drivers.
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.
Spanish consumers are primarily concerned about inflation and the invasion of Ukraine, and are becoming increasingly pessimistic about the economy.
Only 14 percent of Spanish consumers are optimistic about economic recovery, with concerns focused on inflation and the invasion of Ukraine. Four in ten have an increasingly negative sense of the economic outlook—mostly due to petrol and supply-chain shortages, as well as unemployment. Price-increase Perceptions of price increases are particularly high regarding groceries (at 95 percent) and other household products. In these categories, more than half of respondents have reacted to inflation by trying less costly brands. Over the last six weeks, half have tried a private-label brand, 30 percent have switched brands, and a quarter have tried out a different retailer.
Italian consumers are increasingly pessimistic about the economy, with many aiming to reduce spending and modify consumption habits.
Italian consumers are increasingly worried about the effects of rising prices, as well as the invasion of Ukraine. Of Italians surveyed, six in ten expressed a negative view of the current economy; hopes for an economic recovery are lower than they were throughout the entire COVID-19 pandemic. Consumers perceived the highest price increases in groceries and fuel, along with strong increase in spend. These sentiments have translated into reduced consumption. Changed consumer behavior is also apparent, with a shift towards discounters and private-label brands. Price, value for money and availability are the biggest drivers of these choices.
Rising prices and the Ukraine invasion are top concerns for German consumers, fueling a general slide into economic pessimism.
German consumers are experiencing intense unease regarding the state of the economy and its future outlook—with public sentiment sinking lower than at any time during the COVID-19 pandemic. Survey participants felt the greatest concern about rising prices and the invasion of Ukraine. Spend on groceries and gasoline has soared, even as consumers cut spending in non-essential categories. Almost two-thirds have assumed new shopping behaviors in the last four to six weeks, with more than forty percent trying private-label brands. There’s a clear trade-down trend in stores visited and brands chosen, with prices and value for money as key drivers.
As inflation rises, French consumer hopes for economic recovery wane, with optimism sinking back to the lows of lockdown. Optimism regarding the economic recovery has decreased to 14 percent in France—levels last seen in the depths of COVID-19 lockdown. Top sources of concern are rising prices, the invasion of Ukraine, and political uncertainty. Nine out of ten survey respondents perceive high price inflation in the country, and 60 percent expect prices to rise further over the next year. These trends have implications for loyalty: in the search for higher purchasing power, 69 percent of respondents have tried new shopping behaviors in the last four to six weeks. Household products remain the most impacted category, with 65 percent of consumers switching for cheaper options.
Pessimism about recovery is at an all-time high in the United Kingdom. Rising prices are the top concern, with consumers significantly trading down in stores and products. UK consumers are feeling great economic uncertainty. With energy and transport costs eating away at consumer savings and non-food spend, the top reasons given by survey participants for economic anxiety are the gas supply, supply-chain shortages, and energy issues. Consumers report the highest perceived price increases in groceries and household supplies, with two-thirds becoming more conscious about energy usage. Half of consumers changed their grocery brands in the last four to six weeks, with trading down a clear trend: price and value were the strongest drivers here.
Spanish consumers are primarily concerned about inflation and the invasion of Ukraine, and are becoming increasingly pessimistic about the economy.
Only 14 percent of Spanish consumers are optimistic about economic recovery, with concerns focused on inflation and the invasion of Ukraine. Four in ten have an increasingly negative sense of the economic outlook—mostly due to petrol and supply-chain shortages, as well as unemployment. Price-increase Perceptions of price increases are particularly high regarding groceries (at 95 percent) and other household products. In these categories, more than half of respondents have reacted to inflation by trying less costly brands. Over the last six weeks, half have tried a private-label brand, 30 percent have switched brands, and a quarter have tried out a different retailer.
Italian consumers are increasingly pessimistic about the economy, with many aiming to reduce spending and modify consumption habits.
Italian consumers are increasingly worried about the effects of rising prices, as well as the invasion of Ukraine. Of Italians surveyed, six in ten expressed a negative view of the current economy; hopes for an economic recovery are lower than they were throughout the entire COVID-19 pandemic. Consumers perceived the highest price increases in groceries and fuel, along with strong increase in spend. These sentiments have translated into reduced consumption. Changed consumer behavior is also apparent, with a shift towards discounters and private-label brands. Price, value for money and availability are the biggest drivers of these choices.
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.
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.
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
An introduction to the cryptocurrency investment platform Binance Savings.Any kyc Account
Learn how to use Binance Savings to expand your bitcoin holdings. Discover how to maximize your earnings on one of the most reliable cryptocurrency exchange platforms, as well as how to earn interest on your cryptocurrency holdings and the various savings choices available.
Recruiting in the Digital Age: A Social Media MasterclassLuanWise
In this masterclass, presented at the Global HR Summit on 5th June 2024, Luan Wise explored the essential features of social media platforms that support talent acquisition, including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok.
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
https://viralsocialtrends.com/vat-registration-outlined-in-uae/
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Top mailing list providers in the USA.pptxJeremyPeirce1
Discover the top mailing list providers in the USA, offering targeted lists, segmentation, and analytics to optimize your marketing campaigns and drive engagement.
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
We will dig deeper into:
1. How to capture video testimonials that convert from your audience 🎥
2. How to leverage your testimonials to boost your sales 💲
3. How you can capture more CRM data to understand your audience better through video testimonials. 📊
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
Kyiv PMDay 2024 Summer
Website – www.pmday.org
Youtube – https://www.youtube.com/startuplviv
FB – https://www.facebook.com/pmdayconference
McKinsey Survey: Italian consumer sentiment during the coronavirus crisis
1. McKinsey & Company 1
Five emerging consumer themes in October 2021
1
Optimism and spend
intent returning
More Italian consumers
are optimistic about
economic recovery (35
percent, versus 17 percent
in February), sustained by
the start of the vaccination
campaign
Over one-third of
consumers want to
splurge; overall spending
intent is still negative but
with a growth trend
2
Stickiness of digital
In almost all product
categories, more than half
of consumers shop
omnichannel today
Across multiple product
categories, about 25
percent of consumers cite
social media as an
influence for their
purchase decisions
5
Preparation for
holiday shopping
Half of consumers say
they will spend about the
same amount during
2021 holidays as last
year; social media will
influence shopping
decisions
About four in ten people
will start holiday shopping
earlier, half of which just
want to do something fun
4
A tentative return to
out-of-home
Seven in ten Italian
consumers have
structurally modified their
behavior when out of
home
Out-of-home activity has
increased since
February—particularly
social activities, indoor
dining, and fitness
3
Loyalty is under
threat
More than half of
consumers who tried to
buy an out-of-stock item
went to another retailer to
complete the purchase
Almost three-fourths of
consumers have tried a
new shopping behavior in
the last three months,
most often buying a new
brand
2. McKinsey & Company 2
Confidence in own country’s economic recovery after COVID-191
% of respondents
15 14 17 17 22 21
22 32
41
49
50 50
46
65
74
67
44
37 33 33 32
14
1
5
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, which will show
regression or fall into lengthy
recession
Optimistic: The economy will
rebound within 2–3 months and
grow just as strong as or
stronger than before COVID-19
Optimism is strongly returning in Italy, as 35 percent predict the
economy will rebound within 2 or 3 months
1. Q: What is your overall confidence level surrounding economic conditions after the coronavirus (COVID-19) crisis subsides (ie, once there is herd immunity)? Rated from 1 “very optimistic” to 6 “very pessimistic.” Bars may not sum to
100% due to rounding.
Optimism and spend intent returning | Current as of October 2021
US Germany
10/15–22
UK
10/15–22
10/9–15
France
10/15–22
Change in optimistic vs
Feb survey, percentage points
+3 +3
+13 +14
Italy
10/15–22
+18
Spain
10/15–22
+16
India
10/18–25
+3
Source: McKinsey & Company COVID-19 Consumer Pulse Survey
China
10/17–22
+6 +2
Japan
10/18–20
13
52
35
3. McKinsey & Company 3
36 34 36 31
26
33
21
13
53 54 50 57
60
54
62
52
12 12 14 12 14 13 17
35
Sept 2020 Nov 2020 Oct 2021
Mar 2020 June 2020
Apr 2020 May 2020 Feb 2021
Optimism and spend intent returning | Current as of October 2021
1. Q: What is your overall confidence level surrounding economic conditions after the coronavirus (COVID-19) crisis subsides (ie, once there is herd immunity)? Rated from 1 “very optimistic” to 6 “very pessimistic.” Figures may not sum to
100% because of rounding.
2. Average of weekly pulse surveys shown for March through May 2020.
Source: McKinsey & Company COVID-19 ItalyConsumer Pulse Survey, 10/15–10/22/2021, n = 1,014; 2/23–2/27/2021, n = 1,091; 11/09–11/16/2020, n = 1,076; 09/24–09/27/2020, n = 1,071; 06/18–06/21/2020, n = 1,008; 05/21–05/24/2020, n =
1,000; 04/30–05/03/2020, n = 1,001; 04/16–04/19/2020, n = 1,002; 04/02–04/05/2020, n = 1,009; 03/26–03/29/2020, n =1,005; 03/20–03/22/2020 n = 1,003, sampled to match Italy general population 18+ years
Overall optimism has increased in 2021, following the start of the
vaccination campaign
Confidence in own country’s economic recovery after COVID-19,1 % of respondents
Optimistic: The
economy will rebound
within 2–3 months and
grow just as strong as or
stronger than before
COVID-19
Mixed: The economy
will be impacted for 6-12
months or longer and will
stagnate or show slow
growth thereafter
Pessimistic: COVID-
19 will have lasting
impact on the economy
and show regression or
fall into lengthy recession
20202 2021
4. McKinsey & Company 4
Higher-income consumers are significantly more optimistic than
lower-income groups
Optimism and spend intent returning | Current as of October 2021
11
13
27
14
35
21 21
46
15
10
0
5
25
20
30
35
40
45
50
Sept 2020
18
Feb 2021 Oct 2021
Low (<€25k) Medium (€25k–50k) High (>€50k)
27
25
18
28
19
13
20
18
10
20
0
30
5
10
15
50
35
25
40
45
Feb 2021
Sept 2020 Oct 2021
1. Q: What is your overall confidence level surrounding economic conditions after the coronavirus (COVID-19) crisis subsides (ie, once there is herd immunity)? Rated from 1 “very optimistic” to 6 “very pessimistic.”
Optimism by income Pessimism by income
Confidence in own country’s economic recovery after
COVID-19 by income level,1 % of respondents
Source: McKinsey & Company COVID-19 Italy Consumer Pulse Survey, 10/15–10/22/2021, n = 1,014; 2/23–2/27/2021, n = 1,091; 09/24–09/27/2020, n = 1,071, sampled to match Italy general
population 18+ years
5. McKinsey & Company 5
Optimism holds across generations; vaccinated consumers are
driving the trend
Optimism and spend intent returning | Current as of October 2021
Confidence in own country’s economic recovery after COVID-191
% of respondents
1. Q: What is your overall confidence level surrounding economic conditions after the coronavirus (COVID-19) crisis subsides (ie, once there is herd immunity)? Rated from 1 “very optimistic” to 6 “very pessimistic.”
2. Baby boomers includes silent generation.
Source: McKinsey & Company COVID-19 Italy Consumer Pulse Survey, 10/15–10/22/2021, n = 1,014, sampled to match Italy general population 18+ years
By generation By vaccination status
11
25
51
59
38
16
Vaccinated Unvaccinated
5
18 13 14
53
48 54 51
42
34 33 35
Gen X
Gen Z Millennials Baby boomers2
Optimistic Pessimistic
Mixed
6. McKinsey & Company 6
Optimism and spend intent returning | Current as of October 2021
28 27 26
36
12
8 6
4
60
65 68
60
Gen Z Millennials Gen X Baby boomers3
30 33
7 3
63 64
Unvaccinated
Vaccinated
30
7
63
Overall
1. Q: When do you expect your routines will return to normal? Figures may not sum to 100% because of rounding.
2. Q: Which best describes your vaccination status?
3. Baby boomers includes silent generation.
In or after 2022 In 2021 Not affected/already returned
By generation By vaccination status2
Overall, ~60% of
consumers expect to
return to normalcy in
2022 or after, with no
clear difference
across generations
~30% of consumers
are already engaging
in normal routine
While about 30 percent say their routines are back to normal,
most expect normalcy to return during or after 2022
Expectations on routines returning to normal,1 % of respondents
Source: McKinsey & Company COVID-19 Italy Consumer Pulse Survey, 10/15–10/22/2021, n = 1,014, sampled to match Italy general population 18+ years
7. McKinsey & Company 7
An increasing portion of consumers indicate that their income,
spending, and savings are stable
Optimism and spend intent returning | Current as of October 2021
Increased slightly/a lot
Reduced slightly/a lot About the same
Past 2 weeks
3
41
54
Past 2 weeks
3
44
56
3
67
30
Past 2 weeks
44
9
47
8
Past 2 weeks
45
Past 2 weeks
46
8
53
39
Past 2 weeks
45
57
16
39
Past 2 weeks
33
15
52
Past 2 weeks
17
26
Past 2 weeks
Source: McKinsey & Company COVID-19 Italy Consumer Pulse Survey, 10/15–10/22/2021, n = 1,014; 2/23–2/27/2021, n = 1,091; 11/09–11/16/2020, n = 1,076, sampled to match Italy general
population 18+ years
1. Q: How has the coronavirus (COVID-19) crisis affected the following over the past 2 weeks? Figures may not sum to 100% because of rounding.
Household income Household spending Household savings
Nov 9–16 Feb 23–27 Oct 15–20
Nov 9–16 Feb 23–27 Oct 15–20
Nov 9–16 Feb 23–27 Oct 15–20
COVID-19 impact on household finances,1 % of respondents
8. McKinsey & Company 8
About 40 percent of consumers say their finances are either
unaffected or back to normal in 2021
Optimism and spend intent returning | Current as of October 2021
1. Q: When do you expect your personal/household finances will return to normal? Figures may not sum to 100% because of rounding.
2. Q: Which best describes your vaccination status?
3. Baby boomers includes silent generation.
Source: McKinsey & Company COVID-19 Italy Consumer Pulse Survey, 10/15–10/22/2021, n = 1,014, sampled to match Italy general population 18+ years
By generation By vaccination status2
~60% of baby
boomers say their
finances either
were unaffected or
are back to normal,
vs ~30% for Gen Z
and millennials
Expectations on personal/household finances
returning to normal,1 % of respondents
32
37 37
58
11
8 6
57 55 57
40
Baby boomers3
Gen Z Millennials Gen X
2
43
38
6
7
51 55
Vaccinated Unvaccinated
Not affected/already returned
In or after 2022 In 2021
43
6
51
Overall
9. McKinsey & Company 9
While consumers still want to splurge, this intent to spend has
moderated since early 2021, especially among younger consumers
Optimism and spend intent returning | Current as of October 2021
1. Q: With regard to products and services you will spend money on, do you plan to splurge/treat yourself in 2021? For example, are there categories of products or services you have spent less on over the last year and half which you feel you
will spend more on now?
2. Baby Boomers includes silent generation. Insufficient sample (n < 30).
Source: McKinsey & Company COVID-19 Italy Consumer Pulse Survey, 10/15–10/22/2021, n = 1,014; 2/23–2/27/2021, n = 1,091, sampled to match Italy general population 18+
years
Millennials
Gen X
Baby boomers2
40%
−28
56%
−15
Gen Z 58%4
−31
44%
−3
46%
−3
56%
−14
19%
−8
28%
−13
31%
−11
20%
−7
38%
−9
51%
−14
Generation
Respondents who plan/do not plan to
splurge/treat themselves in 20211
% of respondents
Low
(<€25k/year)
Middle
(€25k–50k/year)
High
(>€50k/year)
>70%
<30% 50–70%
30–50% p.p. change from Feb 21
XX
Respondents who plan to splurge, by household income, %
47
53
Feb 2021
Plan on
splurging
63
37
Oct 2021
Do not plan
on splurging
Change < −10 pp
.
10. McKinsey & Company 10
Travel and out-of-home dining see the strongest consumer intent to
splurge, although intent declined since February
Optimism and spend intent returning | Current as of October 2021
Categories where consumers intend to treat themselves1
% of all respondents with intent to splurge
1. Q: You mentioned that you plan to splurge/treat yourself in next 6 months. Which categories do you intend to treat yourself to? Please select all that apply.
2. Baby boomers includes silent generation.
45
43
38
34
23
20
16
16
16
15
12
10
10
Items for your home
Electronics
Travel, lodging, and vacation
Personal services (eg, spa)
Restaurants, dining out, bars
Apparel, shoes, accessories
Out-of-home entertainment
Makeup, skin-care products
Sports apparel and equipment
Fitness, sports, and outdoors
Household essentials
Pets
Outdoor living (eg, furniture)
Millennials Gen X
Gen Z
Baby
boomers2
39 40 38 66
50 35 39 56
41 44 36 29
27 38 36 29
34 25 15 23
30 18 16 19
16 18 19 12
11 22 14 12
23 18 17 6
Generational cut
18 17 14 9
14 14 9 10
16 11 10 6
16 8 13 3
Change from
Feb 2021,
percentage points
Source: McKinsey & Company COVID-19 Italy Consumer Pulse Survey, 10/15–10/22/2021, n = 1,014; 2/23–2/27/2021, n = 1,091, sampled to match Italy general population 18+ years
Between −3 and 3
< −3 >3
−8
−6
2
0
−1
−12
N/A
−1
N/A
0
1
N/A
N/A
Categories
Difference from all respondents,
percentage points
11. McKinsey & Company 11
Though consumers report negative net spending intent overall,
discretionary categories have increased since February
Optimism and spend intent returning | Current as of February 2021
Net intent >1
Net intent −15 to 0
Net intent < −15
8
17
26
28
33
31
29
25
41
38
28
8
8
19
36
29
33
25
14
13
7
17
9
13
8
7
13
7
8
8
12
9
7
6
Tobacco products
Groceries
Quick-service restaurant 10
Footwear
5
Restaurant
Personal-care products
Food takeout and delivery
Household supplies
Alcohol
Apparel
Jewelry
Accessories
Toys and baby
Skin care and makeup
Home and furniture
Sports and outdoors
Kitchen and dining
Home improvement, garden
Decrease Stay the same Increase
11
16
12
22
32
33
16
28
17
18
33
38
24
34
36
40
43
35
6
12
6
20
9
13
8
25
13
14
19
19
19
17
16
18
Pet food and supplies
Vitamins and OTC medicine
10
Out-of-home entertainment
Entertainment at home
Books, magazines, newspapers
Consumer electronics 10
Pet-care services
Fitness and wellness
Personal-care services
Gasoline
Vehicles
Short-term home rentals
Travel by car
Cruises
Adventures and tours
International flights
Hotel/resort stays
Domestic flights
Net
intent2
1. Q: Over the next 2–3 months, 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.
Expected spending per category over the next 2–3 months vs usual1
% of respondents who bought these categories at least once since 2019
−1
3
−2
8
20
45
23
28
23
18
18
−2
1
10
16
21
6
10
Change since
Feb 2021
Change since
Feb 2021
−1
7
2
2
14
50
8
30
22
31
19
36
32
52
48
49
43
46
Net
intent2
−33
6
−15
−1
−24
−12
−13
−21
−23
−14
−20
−12
−31
0
−11
−20
−26
−19
−2
−16
−22
−13
−7
−15
−9
7
−24
−5
−15
−17
−23
−27
−4
−20
−5
−17
Source: McKinsey & Company COVID-19 Italy Consumer Pulse Survey, 10/15–10/22/2021, n = 1,014; 2/23–2/27/2021, n = 1,091, sampled to match Italy general population 18+ years
12. McKinsey & Company 12
−40
10
−80
−50
−70
−10
20
−60
0
−20
−30
Nov 2020 Feb 2021
Mar 2020 Apr 2020 May 2020 Sept 2020 Oct 2021
Out-of-home entertainment
Groceries
Food takeout and delivery
Skin care and makeup
Consumer electronics
Fitness and wellness
Apparel
Domestic flight
June 2020
Expected spending per category over the next 2–3 months vs usual1
Net intent2
Source: McKinsey & Company COVID-19 Italy Consumer Pulse Survey, 10/15–10/22/2021, n = 1,014; 2/23–2/27/2021, n = 1,091; 11/9–11/16/2020, n = 1,076; 09/24–09/27/2020, n = 1,071; 06/18–06/21/2020,
n = 1,008; 05/21–05/24/2020, n = 1,000; 04/30–05/03/2020, n = 1,001; 04/16–04/19/2020, n = 1,002; 04/02–04/05/2020, n = 1,009; 03/26–03/29/2020, n =1,005; 03/20–03/22/2020 n = 1,003, sampled to match
Italy general population 18+ years
Net intent for discretionary spending is improving but remains
negative since the start of the pandemic
1. Q: Over the next 2–3 months, 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.
Optimism and spend intent returning | Current as of February 2021
2020 2021
13. McKinsey & Company 13
1. Q: Which best described how you have researched the following categories over the last 3 months?
2. Q: Which best described how you have purchased the following categories over the last 3 months?
52
48
41
40
35
32
28
28
27
26
25
23
23
23
15
14
46
49
55
51
59
53
64
57
61
60
63
67
64
61
69
61
2
3
4
9
6
15
8
15
12
14
12
10
13
16
16
25
Kitchen and dining
Groceries
Household supplies
Pet food, supplies
Footwear
Vitamins, supplements, OTC medicine
Fitness and wellness services
Personal-care products
Skin care and makeup
Jewelry
Home improvement, gardening supplies
Home decoration, furniture
Apparel
Accessories
Sports and outdoors equipment, supplies
Consumer electronics
Research and purchase only in stores Omnichannel Research and purchase only online
Most consumers shop in an omnichannel way across product
categories
Stickiness of digital | Current as of October 2021
Product searches1 and purchases2 by channel
% of respondents who purchased in these categories in the last 3 months
Source: McKinsey & Company COVID-19 Italy Consumer Pulse Survey, 10/15–10/22/2021, n = 1,014, sampled to match Italy general population 18+ years
14. McKinsey & Company 14
Across categories, about 25 percent of consumers cite social media
as an influence, with larger shares for younger generations
Stickiness of digital | Current as of October 2021
1. Q: Think about the purchases you have made in the following categories over the past 3 months. Were you influenced toward a certain brand by a post on social media in the following categories?
37
36
35
34
33
30
29
29
27
23
20
19
17
17
15
13
Sports and outdoors equipment, supplies
Apparel
Jewelry
Home decoration and furniture
Accessories
Skin care and makeup
Fitness and wellness services
Consumer electronics
Footwear
Home improvement, gardening supplies
Personal-care products
Vitamins, supplements, OTC medicine
Household supplies
Kitchen and dining
Groceries
Pet food and supplies
Millennials Gen X
Gen Z
Baby
boomers2
Generational cut
Source: McKinsey & Company COVID-19 Italy Consumer Pulse Survey, 10/15–10/22/2021, n = 1,014; 2/23–2/27/2021, n = 1,091, sampled to match Italy general population 18+ years
Between −3 and 3
< −3 >3
Categories
Categories where respondents were influenced by social media1
% of respondents who purchased in these categories in the last 3 months
Difference from all respondents,
percentage points
35 34 28
55 46 33 19
44 43 26 26
63 42 30 15
55 35 35 20
48 35 26 19
59 35 27 14
41 32 30 17
52 32 25 13
39 30 23 14
37 29 18 9
18 24 19 15
21 22 20 10
26
22
52
24
25
20
16
13
16
16
9
7
4
15. McKinsey & Company 15
Using more
Using same
Using less
Italian consumers are intensifying usage of pickup and delivery
services
Stickiness of digital | Current as of October 2021
14
14
25
29
17
9
16
7
12
10
26
19
5
19
33
57
Source: McKinsey & Company COVID-19 Italy Consumer Pulse Survey, 10/15–10/22/2021, n = 1,014, sampled to match Italy general population 18+ years
40
10
53
51
40
4
37
35
12
8 52
54
9
51
29
41
6
58
38
4
48
48
42
8
10
46
45
66
45
7
44
55
41
41 52
9
54
37
10
8
53
4
5
68
28
4
50
42
1. Q: And have you used or done any of the following in the last 3 months? If yes, Q: Which best describes when you have done or used each of these items?
Frequency of participating1
% shown among consumers who have participated in the activity in the last 3 months
Used or did in last 3 months
% of total respondents
Drive-thru line for a fast-food restaurant
Curbside pickup from a restaurant
Used a food delivery provider
Self checkout or scan-and-go at a physical store
Buy online, pick up in store
Curbside delivery at a store
Purchased secondhand products online
Downloaded/used a new store/restaurant app
Purchased directly from social media
Used an app/website for same-day delivery
Used an app/website for delivery within 1 hour
Shopped at a store I had not shopped at before for groceries
Cooked regularly for myself/my family
Personal care, grooming at home
Tried making something myself/DIY project
Changed my primary grocery store
16. McKinsey & Company 16
Italian consumers have replaced out-of-home activities with at-
home alternatives, such as meal delivery and wellness apps
Stickiness of digital | Current as of October 2021
9
10
7
3
32
27
56
21
11
2
23
9
5
12
16
21
64
Source: McKinsey & Company COVID-19 Italy Consumer Pulse Survey, 10/15–10/22/2021, n = 1,014, sampled to match Italy general population 18+ years
Using less Using same Using more
60
68
42
62
5
4
3
57
57
38
1
63
34
54
6
53
54
41
6
63
39
7
12
33
55
50
43
2
75
20
4
5
31
7
37
44
2
45
29
45
49
25
6
31
5
6
63
5
44
52
58
1. Q: Have you used or done any of the following in the last 3 months?; Q: Which best describes how often you have used each of the following items in the past 3 months?
Frequency of participating1
% shown among consumers who have participated in the activity in the last 3 months
Used or did in last 3 months
% of total respondents
Wellness app
Digital workout bike or machine
Online personal training/fitness
Grocery delivery
Restaurant food delivery
Meal kit delivery
Online streaming
Video conferencing for professional use
Virtual hangouts and video chats for personal use
Telemedicine for physical health care
Telemedicine for mental health care
Playing online games
Watching online games
Remote learning for myself
Remote learning for my kids
Used social media
Used TikTok
17. McKinsey & Company 17
More than half of consumers who could not purchase at least one
item switched retailers to get a proper substitute
Loyalty is under threat | Current as of October 2021
1. Q: Over the last 3 months, have you wanted to buy something and not been able to purchase it because it was out of stock or otherwise not available?
2. Q: The most recent time this happened (when you wanted to buy something and it was not available), what did you do?
Source: McKinsey & Company COVID-19 Italy Consumer Pulse Survey, 10/15–10/22/2021, n = 1,014, sampled to match Italy general population 18+ years
Respondents who planned to purchase
something but could not, due to unavailability1
% of respondents
33
24
19
15
9
Bought a different brand or similar
product at a different retailer
Waited until it was available
at the same retailer
Bought the product
at a different retailer
Did not buy anything
Bought a different product
at the same retailer
Consumer responses to stockouts2
% of respondents who could not make a planned purchase
54
46
Oct 2021
Could not purchase
at least 1 item
Able to purchase
all items
18. McKinsey & Company 18
73
43
40
31
21
12
Private label/store brand
Any new shopping behavior
Different brand
Different retailer/store/website
New digital shopping method
New shopping method3
Loyalty is under threat | Current as of October 2021
Generational cut
All consumers
Between −3 and 3
< −3 >3
1. Q: Over the past 3 months, which of the following have you done?
2. Baby boomers includes silent generation.
3. “New shopping method” includes curbside pickup and delivery apps.
Behaviors in past 3 months1
% of respondents
30 to 40 percent of Italian consumers, especially millennials and
Gen Z, continue to switch brands or retailers
Difference from all respondents,
percentage points
Source: McKinsey & Company COVID-19 Italy Consumer Pulse Survey, 10/15–10/22/2021, n = 1,014, sampled to match Italy general population 18+ years
Gen Z Millennials
84 85
42 47
54 47
36 42
25 29
15 21
Gen X Baby boomers2
74 57
42 40
42 28
32 20
23 12
12 5
19. McKinsey & Company 19
Value 58
Availability 15
Purpose-driven 27
Quality/organic 30
Novelty 39
Personal choice 22
Health/hygiene 9
All consumers
Reason for trying a new brand since COVID-19 began1
% of respondents who tried a new brand since COVID-19 began
Loyalty is under threat | Current as of October 2021
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 up to 3 relevant reasons. “Brand” includes different brand, new
private label/store brand. Overarching reason based on % of individual respondents responding to at least 1 reason in the group.
2. Baby boomers includes silent generation.
13
35
Better value
Wanted to try a type of product I’ve never tried before
Products are in stock
Is natural/organic
Better prices/promotions
Shares my values
Better shipping/delivery cost
Wanted to try a new brand I found
8
7
Larger package sizes
21
Better quality
Supporting local businesses
Is more sustainable/better for the environment
The company treats its employees well
12
Wanted to treat myself
Wanted variety/a change from my normal routine
29
Is cleaner/safer
21
Is available where I’m shopping (ie, in-store or online)
6
7
19
13
6
6
12
15
9
Convenience 8
24 32
31
31 40
35
7 5
6
9 4
7
12 16
18
8 8
6
12 12
13
8 6
4
10 2
3
18 23
17
15 13
11
18 24
23
18 25
23
15 10
10
14 11
13
12 3
10
Baby
boomers2
Gen Z and
millennials Gen X
7 7
10
Between −2 and +2
< −2 >2
While value and novelty are top reasons for consumers to switch
brands, 27 percent have switched for purpose-driven reasons
x Net % of respondents per category
Difference from all respondents,
percentage points
Source: McKinsey & Company COVID-19 Italy Consumer Pulse Survey, 10/15–10/22/2021, n = 1,014, sampled to match Italy general population 18+ years
20. McKinsey & Company 20
Tentative return to out-of-home | Current as of October 2021
50
12
11
42
34
13
Oct 2021
May 2020
Feb 2021
Nov 2020
June 2020
Sept 2020
Overall
Vaccinated Unvaccinated
51
35
47
50
Gen Z Millennials
50
Gen X Baby boomers3
51
53
48
Medium
(€25k–50k)
Low (<€25k) High (>€50k)
50
1. Q: Which best describes when you will regularly return to stores, restaurants, and other out-of-home activities? Chart shows those already participating in these activities
2. Gen Z are people under 25 years old, millennials are 25–44 years old, Gen X are people 45–54 years old, baby boomers are 55 years old and above
3. Baby boomers includes silent generation
Source: McKinsey & Company COVID-19 Italy Consumer Pulse Survey, 10/15–10/22/2021, n = 1,014, Survey 2/23–2/27/2021, n = 1,091; 11/09–11/16/2020, n = 1,076; 09/24–09/27/2020, n = 1,071;
06/18–06/21/2020, n = 1,008; 05/21–05/24/2020, n = 1,000; sampled to match Italy general population 18+ years
By
generation2
By
vaccination
adoption
By income
51%
of baby boomers are
doing out-of-home
activities
53%
of more high-income
households are doing
out-of-home activities
51%
of people who are
vaccinated are doing
out-of-home activities
Consumers engaging in ‘normal’ out-of-home activities,1 % of respondents
Engagement in ‘normal’ out-of-home activities increased
substantially
21. McKinsey & Company 21
Out-of-home activities done in the past 2 weeks1
% shown for respondents who engaged in the activity at least once prior to COVID-19
Tentative return to out-of-home | Current as of October 2021
1. Q: Did you leave your house for the following activities over the past 2 weeks?
Social
Personal
care
Entertain-
ment 55
28
23
21
40
50
39
72
64
Attend an outdoor event
Dine indoors at a restaurant or bar
Go to a hair or nail salon
Go out for family entertainment
Attend an indoor cultural event
Visit a crowded outdoor public place
Go to the gym or fitness studio
Get together with family
Get together with friends
78
94
83
66
40
42
47
11
25
18
18
Travel by airplane
Shop for groceries/necessities
Work outside my home
Travel more than 2 hours by car
Shop for non-necessities
Go to a shopping mall
Use public transportation
Use a ride-sharing service
Travel by train
Stay in a hotel
Rent a short-term home
Work
Shopping
Transport/
travel
≥50%
<50%
High consumer engagement seen across many out-of-home
activities, particularly shopping and social activities
Source: McKinsey & Company COVID-19 Italy Consumer Pulse Survey, 10/15–10/22/2021, n = 1,014; sampled to match Italy general population 18+ years
22. McKinsey & Company 22
1. Q: With the rise of the Delta variant of COVID-19, how, if at all, has your out-of-home behavior changed?
21 21 19
38 40 41
39 36 37
2 3
Low (<€25k) Medium
(€25k–50k)
3
High (>€50k)
Tentative return to out-of-home | Current as of October 2021
20 17
40
37
37
43
3
Vaccinated
3
Unvaccinated
20
39
38
Engage less
3
Overall
Engage with
adjusted behavior
Engage same as
before Delta
Engage more
By income By vaccination status
Overall, consumers
are more cautious
when going out, with
no major difference
across income
bands
One-fifth of
unvaccinated
consumers have not
reduced or changed
their out-of-home
behavior because of
the Delta variant
Adjustments to out-of-home behavior due to prevalence of Delta variant,1 % of respondents
Roughly 80 percent of consumers have changed the way they
engage in out-of-home activities because of the Delta variant
Source: McKinsey & Company COVID-19 Italy Consumer Pulse Survey, 10/15–10/22/2021, n = 1,014, sampled to match Italy general population 18+ years
23. McKinsey & Company 23
Tentative return to out-of-home | Current as of October 2021
1. Q: Which best describes how you are engaging in each of these activities? Possible answers: “Not doing this at all”; “Doing this in the same way as pre-COVID-19 but less often”; “Doing this in a modified way vs pre-COVID-19”;
“Doing this just as much and in the same way as I did pre-COVID-19.”
Work
Shopping
Transport/
travel
Social
Personal
care
Entertain-
ment
32
65
37
63
35
38
Dine indoors at a restaurant or bar
62
65
Go out for family entertainment
Attend an indoor cultural event
35
Attend an outdoor event
Visit a crowded outdoor public place 68
30
70
Go to a hair or nail salon
26
74
Go to the gym or fitness studio
34
66
Get together with family
31
69
Get together with friends
Work outside my home
35
76
Travel by airplane
28
29
71
Shop for groceries/necessities
72
Shop for non-necessities
66
34
66
Go to a shopping mall
41
Stay in a hotel
24
Travel more than 2 hours by car
34
40
Use public transportation
25
75
Use a ride-sharing service
Travel by train
36
64
65
60
39
61
Rent a short-term home
59
Doing less, doing in a modified way
Doing as much as and in the same way as pre-COVID-19
Engagement in out-of-home activities,1 % of respondents
Depending on the category, about 60 to 75 percent of consumers
have modified their behavior when out of home
Source: McKinsey & Company COVID-19 Italy Consumer Pulse Survey, 10/15–10/22/2021, n = 1,014, sampled to match Italy general population 18+ years
24. McKinsey & Company 24
Main life events done in the last 12 months as a result of COVID-19,1 % of respondents
Tentative return to out-of-home | Current as of October 2021
Change >3 pp
13
11
13
22
7
3
10
4
3
3
3
Renovated/remodeled my home
Set up a specific work-from-home space
Moved into a smaller home
Set up a gym at home
Worked more from home
Decided to change jobs
Got a new pet at home (eg, dog, cat)
Started homeschooling children
Moved into a bigger home
Bought a property
Sold a property
Oct 2021
Pet adoption
House move
Investments/
divestments
Total2
Change from
Feb 2021,
percentage points
2
1
1
1
0
10
Work/study
change
−5
2
N/A3
29
7
Home
renovation
−3
−1
5
30
6
1. Q: Which of the following have you done in the last 12 months as a result of the COVID-19 crisis?
2. Total % of people who choose option(s) in the category.
3. Data not available from Feb 2021 survey.
Even though consumers have increased out-of-home activity,
investments in home environment were high during past 12 months
Source: McKinsey & Company COVID-19 Italy Consumer Pulse Survey, 10/15–10/22/2021, n = 1,014; 2/23–2/27/2021, n = 1,091, sampled to match Italy general population 18+ years
25. McKinsey & Company 25
Three themes are emerging among Italian consumers for the 2021
holiday shopping season
Consumers return to stores
Almost half of all consumers (48%)
plan to go to stores in person for
shopping; younger consumers expect
to focus more on online research,
especially social media and brand
websites
Spend pulled forward Loyalty being tested
Many consumers (39%) are spending
earlier than last year due to potential
product shortages (38%), shipping
delays (32%), and concern about
unexpected COVID-19 challenges
(34%)
78% of consumers say they will shop
differently this year, with the main
switch (33%) being to different
retailers. Primary decision factor is
price, along with quality for younger
shoppers and convenience for older
ones
1 2 3
26. McKinsey & Company 26
Overall, consumers indicate a rather neutral attitude toward the
holiday shopping season; younger consumers are polarized
Preparation for holiday shopping | Current as of October 2021
27
34 29
23
28
34 45 63
44
31
25
14
Baby
boomers2
Gen Z Millennials Gen X
1. Q: Which best describes your general attitude toward the holiday shopping season? Selected from "Anxious," "Stressed," "Neutral," "Eager,“ "Excited," and "Other."
2. Baby boomers includes silent generation.
28
46
25
Overall
Excited/
eager
Neutral
Stressed/
anxious
Consumer attitudes toward the 2021 holiday shopping season1
% of respondents
By annual income By generation
28 28 30
45 48 43
26 23 28
Low (<€25k) Medium
(€25k–50k)
High (>€50k)
Source: McKinsey & Company COVID-19 Italy Consumer Pulse Survey, 10/15–10/20/2021, n = 1,014, sampled to match Italy general population 18+ years
27. McKinsey & Company 27
Majority of consumers plan to spend about the same as last year
across all categories during 2021 holidays
Preparation for holiday shopping | Current as of October 2021
55
23
Out-of-
home eating
65
20
12 9
18
Personal travel
66
27
Family travel
19
24
67
31
15
Gifts (for
myself and
others)
15
65
Redecorate my
home, put out
seasonal items
23
46
Large
household
appliances
1. Q: If you compare the upcoming holidays 2021 with the ones last year, how much do you plan to change your spending level in the following categories?
Will spend more Will spend about the same Will spend less
2021 holiday spending plans vs spending in 20201
% of respondents who spent on the category during the holidays in 2020
Source: McKinsey & Company COVID-19 Italy Consumer Pulse Survey, 10/15–10/20/2021, n = 1,014, sampled to match Italy general population 18+ years
There is a propensity to increase
spending in outdoor activities
(ie, traveling and out-of-home
eating) in light of the recent
reduction of COVID-19
restrictions
28. McKinsey & Company 28
Younger consumers plan to research holiday spending through
social media, while in-store browsing remains popular for all ages
Preparation for holiday shopping | Current as of October 2021
48
32
27
26
25
22
14
9
5
Browsing in pop-up stores
Retailer websites
Advertisements from TV or streaming media
Browsing in stores
Brand websites
Offline advertisements
Browsing through holiday markets
Emails from relevant retailers
Social media
Generational cut
Gen Z
43
28
Millennials
45
22
Gen X
48
24
Baby
boomers3
53
10 5 5 2
21 16 14 9
39 35 17 10
27 30 39 29
27
32 31 30 18
6 9 11 9
17 27 25 30
Research channels
Between −3 and 3
< −3 >3
Difference from all respondents, percentage points
1. Q: Which channels are you planning to use to get new ideas and do research for your holiday shopping? Please select top 3.
2. Offline advertisements include catalogs, fliers, magazines, and newspaper advertisements.
3. Baby boomers includes silent generation.
Consumer research plans by channel for holiday 20211
% of all respondents
Source: McKinsey & Company COVID-19 Italy Consumer Pulse Survey, 10/15–10/20/2021, n = 1,014, sampled to match Italy general population 18+ years
29. McKinsey & Company 29
47
2
Social media is expected to have significant influence on holiday
purchase decisions among younger consumers
Preparation for holiday shopping | Current as of October 2021
1. Q: How much influence do you expect social media to have on your holiday purchase decisions this season? Selected from "Significant influence," "Some influence," and "Will not influence."
2. Q: Which channels do you think will influence your holiday purchase decisions? Asked of respondents indicating social media will influence their 2021 holiday purchases.
3. Baby boomers includes silent generation.
Expected influence of social media on 2021 holiday
purchases,1 % of respondents
52
26
35
54
73
48
74
65
46
27
Overall
Gen Z
Millennials
Gen X
Baby boomers3
Will not influence Will influence
39 46
74 46 25 13 8
67
65 30 19 16 8
54
65 43 23 15 18 4
38
67 43 8 21 9
59
61 45 27 19 15 6
Most influential social-media channels2
% of respondents who expect social-media influence
Top 3 platforms by %
Source: McKinsey & Company COVID-19 Italy Consumer Pulse Survey, 10/15–10/20/2021, n = 1,014, sampled to match Italy general population 18+ years
Facebook
YouTube Instagram TikTok Twitter Snapchat
Pinterest
30. McKinsey & Company 30
Although consumers are more willing to join get-togethers on the
upcoming holidays versus 2020, most plan to limit their size
Preparation for holiday shopping | Current as of October 2021
1. Q: What best describes what you expect to do for the holidays this year [2021]? Figures may not sum to 100% because of rounding.
2. Q: What best describes your holiday get-togethers last year [2020]? Figures may not sum to 100% because of rounding.
3. Baby boomers includes silent generation.
Split by annual income Split by generation
13 13 5
6 5 8 13 5
18 21 33 23 28 26
10 16
23 24 21 35 23 22
1 19
54 47 33 29 36 48
−16 60
Medium
(€25k–
50k)
Low
(<€25k)
High
(>€50k) Millennials Gen X
Gen Z
Baby
boomers3
Change
from 2020,2
percentage
points
Holiday plans in 20211
% of respondents
< −3 Between −3 and 3 >3
Difference from all respondents, percentage points
8
23
23
47
Will travel to a limited family get-together
Will travel to and attend a large get-
together with family and friends
Do not plan to travel and will limit getting together
to immediate family only
Will not travel but will have a family/friends
get-together outside my immediate family
Source: McKinsey & Company COVID-19 Italy Consumer Pulse Survey, 10/15–10/20/2021, n = 1,014, sampled to match Italy general population 18+ years
31. McKinsey & Company 31
Number of in-person holiday-related events is expected to decrease
compared with pre-COVID-19 across all generations
Preparation for holiday shopping | Current as of October 2021
1. Q: About how many in-person holiday-related events do you attend in a typical year without COVID-19?
2. Q: Compared with the number of in-person events you attended pre-COVID-19, about how many in-person events do you expect to attend over the holidays this coming year [2021]?
3. Baby boomers includes silent generation.
6.1
3.8
1.9
Family gatherings
Parties with friends
Work-related gatherings
Event type
Between −1 and 1
< −1 >1
Millennials Gen X
Gen Z
Baby
boomers3
Generation cut
4.8 5.6 5.7 7.4
5.4 3.8 3.5 3.5
2.1 2.4 2.3 1.0
Difference in
number vs
pre-COVID-19
−1.4
−1.6
−0.8
Holiday-related events consumers attended1 or expect to attend2 in 2021
Number of events
Difference from all respondents, percentage points
Source: McKinsey & Company COVID-19 Italy Consumer Pulse Survey, 10/15–10/20/2021, n = 1,014, sampled to match Italy general population 18+ years
32. McKinsey & Company 32
1. Q: Do you plan to shop for the holidays earlier or later in 2021 compared with last year’s holiday season [2020]? Possible answers: “significantly earlier”; “slightly
earlier”; “starting at about the same time”; “slightly later”; “significantly later”; “I am not planning to do any holiday season shopping.” Figures may not sum to 100%
because of rounding; 10% of Italian consumers surveyed indicated they do not plan to shop for the holidays this year.
2. Baby boomers includes silent generation.
3. Q: What are the primary reasons you plan to shop earlier for the holidays in 2021?
4
Low
6
38
56
38
58
Medium
40
56
3
High
About the
same time
Earlier 39
Later 4
57
Overall
Overall By income By generation
45
46
8
Gen Z Millennials
41
7
53
40
55
5
Gen X
34
65
1
Baby
boomers2
More consumers, especially younger generations, plan to start
holiday shopping earlier this year
Preparation for holiday shopping | Current as of October 2021
Main reasons for consumers
to start shopping earlier3
% of respondents who plan to shop
earlier in 2021
38%
32%
27%
34%
Holiday shopping start vs last year1
% of respondents who plan to shop for the holidays this year
of Italian consumers are
concerned about
availability
of Italian consumers are
concerned about
shipping lead time
of Italian consumers
want to do something
fun right now
of Italian consumers are
concerned about
unexpected challenges
due to COVID-19
Source: McKinsey & Company COVID-19 Italy Consumer Pulse Survey, 10/15–10/20/2021, n = 1,014, sampled to match Italy general population 18+ years
33. McKinsey & Company 33
While the majority of Italian consumers intend to start their
holiday shopping in November, over 10 percent began by October
Preparation for holiday shopping | Current as of October 2021
13
52
34
1
I already started
In November
In December
In January
21
23
56
75–100% of my shopping
50–74% of my shopping
1–49% of my shopping
1. Q: When do you plan to start your shopping for the seasonal holidays this year? Excludes 10% of Italian respondents indicating they would do no holiday shopping. Figures may not sum to 100% because of rounding.
2. Q: How much of your holiday season shopping have you done so far? Asked of respondents who indicated they already started.
Holiday shopping timing, 20211
% of respondents who plan to shop for the holidays this year
Holiday shopping completion status, 20212
% of respondents who already started
Source: McKinsey & Company COVID-19 Italy Consumer Pulse Survey, 10/15–10/20/2021, n = 1,014, sampled to match Italy general population 18+ years
34. McKinsey & Company 34
Roughly one-third of consumers expect to shop at different
retailers than last year
Preparation for holiday shopping | Current as of October 2021
17
13
9
More value for money
Safety
Check more things
off my list at once
78
33
29
21
20
15
Shop more at local/independent stores
Any change of shopping behavior3
Shop at a different place
Shop more online
Shop more in person
Shop earlier
1. Q: Please select all the ways you anticipate your holiday shopping might be different from last year. Figures may not sum to 100% because of rounding.
2. Excludes respondents indicating they will not shop for the holidays this year.
3. Percent of respondents who chose at least 1 behavior that will change.
Anticipated different holiday shopping behaviors1
% of respondents2
Reasons given for changing place to shop during
holiday season
% of respondents3
Source: McKinsey & Company COVID-19 Italy Consumer Pulse Survey, 10/15–10/20/2021, n = 1,014, sampled to match Italy general population 18+ years
35. McKinsey & Company 35
High-income consumers expect to increase both online and in-
person shopping; millennials shop earlier, and Gen X going online
Preparation for holiday shopping | Current as of October 2021
29
20
21
Shop more in person
Shop earlier
Shop more online
Income cut
Gen Z
Millen-
nials Gen X
Baby
boom-
ers3
Shopping behaviors
Between −3 and 3
< −3 >3
Difference from all respondents, percentage points
Anticipated changes in shopping behavior for holiday
2021,1 % of respondents2
Generational cut
30 35
30 23
23 27 20 12
24 22 19 21
28 29 32
22 20 15
14 24 25
Medium
(€25k-
50k)
Low
(<€25k)
High
(>€50k)
Source: McKinsey & Company COVID-19 Italy Consumer Pulse Survey, 10/15–10/20/2021, n = 1,014, sampled to match Italy general population 18+ years
1. Q: Please select all the ways you anticipate your holiday shopping might be different compared to last year. Figures may not sum to 100% because of rounding.
2. Percent of respondents indicating they would be shopping differently for the holidays this year vs 2020 (78% of Italian consumers).
3. Baby boomers includes silent generation.
36. McKinsey & Company 36
Value, availability, and convenience drive decisions on where to
shop; older consumers overindex on price, Gen Z on purpose
Preparation for holiday shopping | Current as of October 2021
47
18
22
19
12
28
21
25
23
13
5
11
Ability to purchase most gifts from one place
Better prices, promotions
Convenience
Ability to see products in person
Better shipping, delivery costs
Easy to shop across store and online
Product availability
Offers unique items
Better quality
Supporting local businesses
Company treating its employees well
Cleaner/better hygiene measures
Generational cut
14
54
13
19
29
21
3
12
21
23
10
Gen Z
13
42
18
21
24
19
10
12
25
36
16
13
Millennials
10
41
22
30
25
21
5
9
26
25
15
15
Gen X
13
46
21
19
30
21
6
11
24
25
13
16
Baby
boomers2
28
1. Q: Please tell us what your primary considerations will be when deciding where to shop. Please select up to 3.
2. Baby boomers include traditional or silent generation.
Between −3 and 3
< −3 >3
Primary considerations when deciding where to shop1
% of respondents
Convenience
Value
Availability
Uniqueness
Purpose-driven
Health/hygiene
Quality
47
56
x Net % of respondents per category
44
25
23
17
11
Difference from all respondents, percentage points
Source: McKinsey & Company COVID-19 Italy Consumer Pulse Survey, 10/15–10/20/2021, n = 1,014, sampled to match Italy general population 18+ years