While consumer optimism remains steady, we see signs of discretionary spend recovery.
These exhibits are based on survey data collected in the United States from February 18 through 22, 2021. Check back for regular updates on US consumer sentiments, behaviors, income, spending, and expectations.
"Remediate" means to solve a problem, and "bio-remediate" means to use biological organisms to solve an environmental problem such as contaminated soil or groundwater.
Bioremediation means to use a biological remedy to abate or clean up contamination.
According to the EPA, bioremediation is a “treatment that uses naturally occurring organisms to break down hazardous substances into less toxic or non toxic substances”.
"Remediate" means to solve a problem, and "bio-remediate" means to use biological organisms to solve an environmental problem such as contaminated soil or groundwater.
Bioremediation means to use a biological remedy to abate or clean up contamination.
According to the EPA, bioremediation is a “treatment that uses naturally occurring organisms to break down hazardous substances into less toxic or non toxic substances”.
DEFINITION OF PHYLLOSPHERE
PARTS OF PHYLLOSPHERE
MICROORGANISM OF PHYLLOSPHERE
PHYLLOSPHERE MICROORGANISMS OF STEM (CAULOSPHERE)
PHYLLOSPHERE MICROORGANISMS OF LEAVES(PHYLLOPLANE)
PHYLLOSPHERE MICROORGANISMS OF FLOWER (ANTHOSPHERE)
PHYLLOSPHERE MICROORGANISMS OF FRUIT(CARPOSPHERE)
FACTORS INFLUENCING MICROBIAL GROWTH AND ACTIVITIES
POSITIVE EFFECT OF PHYLLOSPHERE MICROORGANISMS
NEGATIVE EFFECT OF PHYLLOSPHERE MICROORGANISMS
Toxigenic fungi and their associated mycotoxins: a threat for crop production...Francois Stepman
Kris Audenaert, Jonas Verdicke, Maarten Ameye, Richard Madege, Sofie
Landschoot,
& Geert Haesaert
Faculty of Bioscience Engineering
Department of Plants and Crops
University Ghent
30 - 31 August 2018. Gent-Zwijnaarde, Belgium. IPBO conference 2018: “Scientific innovation for a sustainable development of African agriculture”
Fermentation is a metabolic process that converts sugar to acids, gases or alcohol. It occurs in yeast and bacteria, and also in oxygen-starved ( Deficient ) muscle cells, as in the case of lactic acid fermentation.
Fermentation, chemical process by which molecules such as glucose are broken down anaerobically. More
Introduction to microbiology: Microbiology in daily life, Characteristics, and morphology of bacteria, fungi, virus, protozoa and algae. Control of micro-organisms- Growth curve; Influence of environmental factors on growth- PH, Water activity, O2 availability, Temperature, Pressure and Radiation.
In China, almost all consumers have already returned to normal out-of-home activities, and 97 percent of respondents report working outside the home in the two weeks prior to being surveyed.
These exhibits are based on survey data collected in China from Feb. 20 to March 8, 2021. Check back for regular updates on Chinese consumer sentiments, behaviors, income, spending, and expectations.
These exhibits are based on survey data collected in the United States between February 2019 and June 2021, as well as longitudinal surveys conducted between March 2020 and February 2021. Check back for regular updates on US consumer sentiments, behaviors, income, spending, and expectations.
DEFINITION OF PHYLLOSPHERE
PARTS OF PHYLLOSPHERE
MICROORGANISM OF PHYLLOSPHERE
PHYLLOSPHERE MICROORGANISMS OF STEM (CAULOSPHERE)
PHYLLOSPHERE MICROORGANISMS OF LEAVES(PHYLLOPLANE)
PHYLLOSPHERE MICROORGANISMS OF FLOWER (ANTHOSPHERE)
PHYLLOSPHERE MICROORGANISMS OF FRUIT(CARPOSPHERE)
FACTORS INFLUENCING MICROBIAL GROWTH AND ACTIVITIES
POSITIVE EFFECT OF PHYLLOSPHERE MICROORGANISMS
NEGATIVE EFFECT OF PHYLLOSPHERE MICROORGANISMS
Toxigenic fungi and their associated mycotoxins: a threat for crop production...Francois Stepman
Kris Audenaert, Jonas Verdicke, Maarten Ameye, Richard Madege, Sofie
Landschoot,
& Geert Haesaert
Faculty of Bioscience Engineering
Department of Plants and Crops
University Ghent
30 - 31 August 2018. Gent-Zwijnaarde, Belgium. IPBO conference 2018: “Scientific innovation for a sustainable development of African agriculture”
Fermentation is a metabolic process that converts sugar to acids, gases or alcohol. It occurs in yeast and bacteria, and also in oxygen-starved ( Deficient ) muscle cells, as in the case of lactic acid fermentation.
Fermentation, chemical process by which molecules such as glucose are broken down anaerobically. More
Introduction to microbiology: Microbiology in daily life, Characteristics, and morphology of bacteria, fungi, virus, protozoa and algae. Control of micro-organisms- Growth curve; Influence of environmental factors on growth- PH, Water activity, O2 availability, Temperature, Pressure and Radiation.
In China, almost all consumers have already returned to normal out-of-home activities, and 97 percent of respondents report working outside the home in the two weeks prior to being surveyed.
These exhibits are based on survey data collected in China from Feb. 20 to March 8, 2021. Check back for regular updates on Chinese consumer sentiments, behaviors, income, spending, and expectations.
These exhibits are based on survey data collected in the United States between February 2019 and June 2021, as well as longitudinal surveys conducted between March 2020 and February 2021. Check back for regular updates on US consumer sentiments, behaviors, income, spending, and expectations.
Mexican consumers continue to be worried about their economy during the COVID-19 crisis, with optimism about a recovery climbing slowly.
These exhibits are based on survey data collected in Mexico from February 20–March 2, 2021. Check back for regular updates on Mexican consumer sentiments, behaviors, income, spending, and expectations.
Mexican consumers continue to be worried about their economy during the COVID-19 crisis, with optimism about a recovery climbing slowly.
These exhibits are based on survey data collected in Mexico from February 20–March 2, 2021. Check back for regular updates on Mexican consumer sentiments, behaviors, income, spending, and expectations.
Mexican consumers continue to be worried about their economy during the COVID-19 crisis, with optimism about a recovery climbing slowly.
These exhibits are based on survey data collected in Mexico from February 20–March 2, 2021. Check back for regular updates on Mexican consumer sentiments, behaviors, income, spending, and expectations.
Although Japanese consumer optimism about economic recovery is improving steadily, the majority of consumers are still cautious about reengaging in out-of-home activities.
These exhibits are based on survey data collected in Japan from February 24–27, 2021. Check back for regular updates on Japanese consumer sentiments, behaviors, income, spending, and expectations.
Although Japanese consumer optimism about economic recovery is improving steadily, the majority of consumers are still cautious about reengaging in out-of-home activities.
These exhibits are based on survey data collected in Japan from February 24–27, 2021. Check back for regular updates on Japanese consumer sentiments, behaviors, income, spending, and expectations.
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.
US consumers exhibited strong optimism and spend in October, driven by consumers across the age and income spectrum.
Check back for regular updates on US consumer sentiments, behaviors, income, spending, and expectations.
Despite an ongoing lockdown, German consumers’ expectations for economic recovery are stable, with half believing their routines will return to normal by the end of 2021.
These exhibits are based on survey data collected in Germany from February 23–27, 2021. Check back for regular updates on German consumer sentiments, behaviors, income, spending, and expectations.
Since May 2020, more Canadians are feeling more pessimistic about the economic recovery and believe COVID-19 will have a lasting impact on the economy .
These exhibits are based on survey data collected in Canada from August 14–19, 2020. Check back for regular updates on Canadian consumer sentiments, behaviors, income, spending, and expectations.
Despite an ongoing lockdown, German consumers’ expectations for economic recovery are stable, with half believing their routines will return to normal by the end of 2021.
These exhibits are based on survey data collected in Germany from February 23–27, 2021. Check back for regular updates on German consumer sentiments, behaviors, income, spending, and expectations.
Despite an ongoing lockdown, German consumers’ expectations for economic recovery are stable, with half believing their routines will return to normal by the end of 2021.
These exhibits are based on survey data collected in Germany from February 23–27, 2021. Check back for regular updates on German consumer sentiments, behaviors, income, spending, and expectations.
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.
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.
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.
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.
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: US consumer sentiment during the coronavirus crisis (20)
Spanish consumers are pessimistic about the economy. Rising prices, unemployment, and the invasion of Ukraine are top concerns, and consumers are trading down.
In Spain, consumers are most concerned about rising prices, unemployment, and the invasion of Ukraine. Their views of the current and future state of the economy remain pessimistic, at a level comparable to attitudes in the early months of the COVID-19 pandemic. Spend for groceries and gasoline soared, while consumers reduced money directed to savings and spent less on non-essentials. Of the 80 percent of consumers who have assumed new shopping behaviors in the last three months in search of value for money, more than half tried private labels. Trade-down in retailers visited and brands is evident, with the key drivers of choice being prices and value for money. However, 39 percent of consumers say they plan to splurge in 2022.
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.
COVID-19 is no longer among Italian consumers’ top concerns. Consumers remain pessimistic about economic recovery and inflation; many aim to reduce their spend.
Italian consumers are increasingly worried about the effects of rising prices and the invasion of Ukraine. Unemployment is a number-two concern for respondents in Gen Z, millennials, and the low-income group. Almost six out of ten share a negative view of Italy’s current economic state; hopes for an economic recovery are lower than during the entire COVID-19 pandemic. Consumers observed the highest price increases in groceries and gasoline. To cope with inflation, Italian consumers are changing their purchase behavior, shifting toward discounters and private labels. The leading factors for these choices are prices and value for money.
German consumers are pessimistic about the economy. Rising prices and the invasion of Ukraine are top concerns, and we see a significant down-trade in shopping.
In Germany, consumers’ top concerns are rising prices and the invasion of Ukraine, followed by climate change and COVID-19. Pessimism about the current and future state of the economy has eased but remains at a level comparable to attitudes in the early months of the COVID-19-pandemic. As spend for groceries and gasoline soared, consumers reduced money directed to savings and spent less on non-essentials. Of the 70 percent of consumers who have assumed new shopping behaviors in the last three months, more than four out of ten tried private labels. Trade-down in stores visited and brands is clearly visible, with the key drivers of choice being prices and value for money. However, 46 percent of consumers say they plan to splurge in 2022.
For consumers in France, inflation eclipses other sources of concern. It triggers changes in shopping behaviors as consumers seek better value for money.
French consumers’ optimism regarding the economic recovery is stable at around 14 percent—a level last seen in the depths of COVID-19 lockdowns. Top sources of concern are rising prices (cited by 54 percent), followed by the invasion of Ukraine (13 percent) and climate change (10 percent) and far ahead of COVID-19 (4 percent). Nine out of ten survey respondents perceive high price inflation in the country. These trends have implications for brand and retailer loyalty: of the 73 percent of respondents saying they have tried new shopping behaviors in the last three months, 40 percent say they purchased private labels. Household products remain the category most affected by this trading-down trend.
Japanese consumers’ behaviors and finances are gradually recovering to normal, though their responses indicate a slight increase in pessimism. The long-lasting impact of COVID-19 is prolonging Japanese consumers’ intent to stay conservative about spending across categories. In a further sign of cautiousness, the trend of shrinking pessimism over the past few years reversed for the first time. Meanwhile, people’s demand for travel is rising, considering the next seasonal vacations.
Australian consumers, in view of the omicron variant, are feeling less optimistic about economic recovery than last year and remain cautious on spending.
In Australia, optimism about economic recovery has declined since the November 2020 pulse survey but remains higher than at the onset of the COVID-19 pandemic. Six in ten consumers predict routines will return to normal only after June 2022; two-thirds do not plan to splurge in 2022. Although Australian households increased their spending in the past month, net intent to spend remains negative. Digital and omnichannel adoption continues in most categories, and intent to use out-of-home services rose. Seventy-five percent of consumers have addressed the rise of omicron by changing how they engage in out-of-home activities. Most consumers have tried a different brand or retailer, especially to switch brands in pursuit of value.
Indian consumers’ optimism has remained high since October 2021 and has reached the highest levels across other Asian markets since COVID-19 started.
Nearly three-quarters of India’s consumers are optimistic about economic recovery, and net intent to spend is growing and positive across many categories. Omnichannel usage continues across the majority of categories, and social-media influence is high, especially for Gen Z and millennials. More than 90 percent are engaging in social media and entertainment platforms. There is an upward trend for new technology, such as crypto and augmented reality/virtual reality, and consumers intend to continue digital activities as the COVID-19 crisis subsides.
About 40 percent of consumers are engaging in out-of-home activities, especially among the vaccinated segment. Most consumers have tried new shopping behaviors such as new retail outlets and new brands.
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.
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
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This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
Taurus Zodiac Sign_ Personality Traits and Sign Dates.pptxmy Pandit
Explore the world of the Taurus zodiac sign. Learn about their stability, determination, and appreciation for beauty. Discover how Taureans' grounded nature and hardworking mindset define their unique personality.
Remote sensing and monitoring are changing the mining industry for the better. These are providing innovative solutions to long-standing challenges. Those related to exploration, extraction, and overall environmental management by mining technology companies Odisha. These technologies make use of satellite imaging, aerial photography and sensors to collect data that might be inaccessible or from hazardous locations. With the use of this technology, mining operations are becoming increasingly efficient. Let us gain more insight into the key aspects associated with remote sensing and monitoring when it comes to mining.
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What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
[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
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McKinsey Survey: US consumer sentiment during the coronavirus crisis
1. McKinsey & Company 1
We have seen six fundamental shifts to consumer behavior,
some of which will have a lasting impact
Source: McKinsey & Company COVID-19 US Consumer Pulse Survey 2/18–2/22/2021, n = 2,076, sampled and weighted to match the US general population 18+ years
+35%
January 2021 year-
over-year online
credit-card and
debit-card
penetration
increase, as a % of
total spend
51%
of consumers plan
to splurge or treat
themselves, some
starting immediately
and some waiting
for COVID-19 to
subside
39%
of consumers have
tried new brands
over the course of
COVID-19
28%
of consumers have
invested in new
uses of their living
space at home
+50%
vaccinated
consumers
engaging in usual
out-of-home
activities vs. those
interested in
vaccination
~40%
of consumers are
optimistic about an
economic recovery
post-COVID-19
4. Continued
digital
stickiness
2. Signs of
spend recovery
5. Rebalancing
of homebody
economy
6. Evolution
of loyalty
3. Vaccination
accelerating
recovery
1. Steady
overall optimism
2. McKinsey & Company 2
Confidence in own country’s economic recovery after COVID-191
% of respondents
10 14 18 17
32
21
31
20
25
37
43
46
53 59
50
62
52 67
71
61
47
39
30 24 18 17 17 12
4 2
14
45
41
Mixed: The economy will be
impacted for 6–12 months or
longer and will stagnate or show
slow growth thereafter
Pessimistic: COVID-19 will
have lasting impact on the
economy and show regression/
fall into lengthy recession
Optimistic: The economy will
rebound within 2–3 months and
grow just as strong as or
stronger than before COVID-19
The United States is more optimistic than European countries but
less so than India, China, or Mexico
Steady overall optimism
1 Q: What is your overall confidence level surrounding economic conditions after the coronavirus (COVID-19) crisis subsides (i.e., once there is herd immunity)? Rated from 1 “very optimistic” to 6 “very pessimistic.”
Bars may not sum to 100% due to rounding.
2.China’s increase in optimism was compared to September instead of November.
US India China Brazil Germany
UK Spain
Italy
France Japan
2/18–22 2/20–3/3 2/20–3/8 2/20–3/1 2/23–27
2/23–27 2/23–27
2/23–27
2/23–27 2/24–27
Source: McKinsey & Company COVID-19 Consumer Pulse Survey
Mexico
2/20–3/2
0 +9 +9
+3 +6 +13 +1 +7 +4 +3 +5
X Increase in optimism since
November 2020, percentage point2
3. McKinsey & Company 3
Confidence in own country’s economic recovery after COVID-191
% of respondents
13% 16% 14% 15% 16% 16% 16% 15% 15%
20% 18% 17% 18% 19% 21% 17% 17% 14% 13% 14%
43%
45%
45%
47% 46%
48% 48% 52% 52%
49% 49% 49% 47% 46%
46%
46% 45%
44% 46% 45%
44%
39% 41% 37% 39% 35% 36% 33% 34% 32% 33% 34% 36% 35% 32% 36% 39% 42% 41% 41%
Apr 27–
May 3
Mar
16–17
Mar
20–22
Mar
23–29
Jul 30–
Aug 2
Mar 30–
Apr 5
April
6–12
Apr
13–19
May
18–24
May
4–10
May
11–17
Sep
18–24
Jun
1–7
Apr
20–26
Jun
15–21
Jul
7–12
Aug
19–23
Oct
23–27
Nov
9–13
Feb
18-22
Mixed: The economy will
be impacted for 6–12
months or longer and will
stagnate or show slow
growth thereafter
Pessimistic: COVID-19
will have lasting impact
on the economy and
show regression / fall into
lengthy recession
Optimistic: The
economy will rebound
within 2–3 months and
grow just as strong as or
stronger than before
COVID-19
Optimism regarding US economic recovery has improved since the
height of the pandemic, but has remained stable since September
Steady overall optimism
1 Q: What is your overall confidence level surrounding economic conditions after the coronavirus (COVID-19) crisis subsides (i.e., once there is herd immunity)? Rated from 1 “very optimistic” to 6 “very pessimistic.”
Figures may not sum to 100% because of rounding.
Source: McKinsey & Company COVID-19 US Consumer Pulse Survey 2/18–2/22/2021, n = 2,076; 11/9–11/13/2020, n = 2,024; 10/23–10/27/2020, n = 2,021; 9/18–9/24/2020, n = 1,026; 8/19–8/23/2020, n = 2,026; 7/30–8/2/2020, n = 2,024;
7/7–7/12/2020, n = 1,923; 6/15–6/21/2020, n = 2,006; 6/1–6/7/2020, n = 1,966; 5/18–5/24/2020, n = 1,975; 5/11–5/17/2020, n = 2,002; 5/4–5/10/2020, n = 1,993; 4/27–5/3/2020, n = 2,105; 4/20–4/26/2020, n = 1,052; 4/13–4/19/2020, n =
1,052; 4/6–4/12/2020, n = 1,063; 3/30–4/5/2020, n = 1,484; 3/23–3/29/2020, n = 1,119; 3/20–3/22/2020, n = 1,073; 3/16–3/17/2020, n = 1,042; sampled and weighted to match the US general population 18+ years
2020 2021
4. McKinsey & Company 4
Consumers engaging in “normal” out-of-home activities1
% of respondents
Engagement in out-of-home activities has leveled off in recent months,
with notable differences by generation and vaccination openness/status
Steady overall optimism
33
36
36
36
32
30
27
20
May 24
Jul 12
Feb 22
Sep 24
Nov 13
Jun 21
Oct 27
Aug 23
Overall
Cautious Unlikely
33%
Vaccinated Interested
54%
29%
22%
Baby boomers
Gen Z
28%
Millennials Gen X
28%
35% 38%
Medium
($50K–$100K)
Low
(<$50K)
High
(>$100K)
35%
30% 33%
~33%
of vaccinated people
are doing out-of-home
activities
~37%
of millennials are
doing out-of-home
activities
By
generation2
By income
By
vaccination
adoption3
30–35%
of all income groups
are doing out-of-home
activities
1 Q: Which best describes when you will regularly return to stores, restaurants, and other out-of-home activities? Chart shows those already participating in these activities.
2 Members of Gen Z were born from 1997–2012, millennials from 1981-1996, Gen X from 1965–1980, and baby boomers from 1946–1964. The Traditionalist/Silent Generation is not included due to a low sample size.
3 Category definitions: Vaccinated = “I have already received at least one shot”; Interested = “I am likely / very likely to get vaccinated”; Cautious = “I am somewhat likely / somewhat unlikely to get vaccinated”; Unlikely = “I am unlikely / very
unlikely to get vaccinated.”
Source: McKinsey & Company COVID-19 US Consumer Pulse Survey 2/18–2/22/2021, n = 2,076; 11/9–11/13/2020, n = 2,024; 10/23–10/27/2020, n = 2,021; 9/18–9/24/2020, n = 1,026; 8/19–8/23/2020, n = 2,026; 7/7–7/12/2020, n = 1,923;
6/15–6/21/2020, n = 2,006; 5/18–5/24/2020, n = 1,975; sampled and weighted to match the US general population 18+ years
5. McKinsey & Company 5
While most consumers limit out-of-home activities now, they expect
to visit friends, shop, and dine out more once COVID-19 subsides
Steady overall optimism
Out-of-home activities done in the past two weeks1
% of respondents who did activity within last 2 weeks
+17
+39
+50
+25
+8
+29
+6
+8
+25
+9
+15
+23
+24
+29
+36
+1
+12
+27
+42
+37
Net intent: 1–15 Net intent: 16–30 Net intent: 31–50
Source: McKinsey & Company COVID-19 US Consumer Pulse Survey 2/18–2/22/2021, n = 2,076, sampled and weighted to match the US general population 18+ years
1 Q: Did you leave your house for the following activities over the past two weeks? Responder % is based on those who previously selected “Yes” to having done the activity once per year prior to the COVID-19 crisis.
2 Q: Once the coronavirus (COVID-19) crisis subsides (i.e., once there is herd immunity), how do you think the amount of time you spend doing the following activities will change relative to how often you did them before COVID-19 began?
Possible answers: “I will not do this at all”; “I will do this less often than I did before COVID-19 started”; “I will do this about the same as I did before COVID-19”; “I will do this more than I did before COVID-19.” Net intent is calculated from adding
% of respondents stating they will do more or about the same, and subtracting % of respondents stating they will do less or not at all.
Net intent
post-
COVID-192
Net intent
post-
COVID-192
30
Go to a hair or nail salon
Attend an outdoor event
Go to the gym or fitness studio
Dine at a restaurant or bar
Visit a crowded outdoor public place
12
Get together with family
9
10
Go out for family entertainment
Attend an indoor cultural event
Get together with friends
35
15
30
24
35
13
Use public transportation
Shop for non-necessities
Work outside my home
Travel more than 2 hrs by car
Shop for groceries/necessities
Use ride-sharing service
Go to a shopping mall
Travel by train
Rent a short-term home
Stay in a hotel
Travel by airplane
22
50
81
59
25
28
26
22
15
11
Work
Shopping
Transport/
Travel
Social
Personal
care
Entertain
-ment
6. McKinsey & Company 6
Early signs of spend recovery are expected to continue with
stimulus checks deployment and consumers’ eagerness to splurge
3. Consumers are eager to
spend and splurge
2. Stimulus payments and
holiday pull-through have
influenced the recovery
1. Spend is fluctuating but
showing an upward trend
Year-on-year credit-card spend September
to February was flat vs. a contraction of 8%
during March to August
~15–20%
Uplift in spend from stimulus recipients the
first weeks after the stimulus payment
51%
of consumers plan to splurge or treat
themselves, some starting immediately and
some waiting for COVID-19 to subside
Signs of spend recovery
Source: McKinsey & Company COVID-19 US Consumer Pulse Survey 2/18–2/22/2021, n = 2,076, sampled and weighted to match the US general population 18+ years; Affinity Solutions credit-card and debit-
card spend data from 2/2019–1/2021; Earnest Research “Impact of Stimulus Payments on Consumer Spending” February 2021
Flat year-on-year spend
7. McKinsey & Company 7
Spend has shown early signs of recovery in the past six months, aided
by holiday pull-through and stimulus payments
Signs of spend recovery
Year-over-year credit-card spend,1 %
Source: Affinity Solutions credit-card and debit-card spend data from 2/2019–2/2021; Earnest Research “Impact of Stimulus Payments on Consumer Spending” February 2021
1 Includes credit-card and some debit-card spending data among banked consumers; does not include cash. Year-over-year growth in monthly sales during current period (2/2020–2/2021) compared to monthly sales in prior period (2/2019–2/2020).
2 Year-over-year spend in March–August 2020 decreased by 8% compared to same period in previous year, whereas September–February remained flat compared to same period in previous year.
3 Year-over-year change in spend for stimulus recipients versus those who did not receive stimulus payments.
10%
-6%
-18%
-9%
-6% -5%
-3%
1%
2% 1%
-2%
3%
-4%
Feb Mar Apr Jan
Jun
May Jul Aug Sep Oct Nov Dec Feb
First round of
stimulus payment
Second round of
stimulus payment
Holiday pull-
forward spend
Spend is fluctuating but
showing an upward trend
Stimulus payments and
holiday-influenced recovery
Those who received stimulus money in
April/May and January showed a 15–20%
uplift in spend.3 Early holiday shopping in
October and November helped support
positive growth in those months.
Mar-Aug
6 month YoY: –8%2
Sep-Feb
6 month YoY: 0%2
8. McKinsey & Company 8
Around half of US consumers plan to spend extra to splurge or treat
themselves, with notable differences by income and generation
Signs of spend recovery
Expected leisure spend in 20211
% of respondents who plan to splurge or treat themselves
~51%
Plan to splurge or treat
themselves
45%
Vaccinated Interested
45%
Unlikely
Cautious
56% 54%
Gen X
Gen Z
48%
Millennials
68%
Baby boomers
59%
35%
38%
Low
(<$50K)
Mid
($50K–$100K)
High
(>$100K)
51%
67%
1 Q: With regard to products and services you will spend money on, do you plan to splurge/treat yourself in 2021? Figures may not sum to 100% because of rounding.
2 Members of Gen Z were born from 1997–2012, millennials from 1981-1996, Gen X from 1965–1980, and baby boomers from 1946–1964. The Traditionalist/Silent Generation is not included due to a low sample size.
3 Category definitions: Vaccinated = “I have already received at least one shot”; Interested = “I am likely / very likely to get vaccinated”; Cautious = “I am somewhat likely / somewhat unlikely to get vaccinated”; Unlikely = “I am unlikely / very
unlikely to get vaccinated.”
~67%
of millennials
By
generation2
~67%
of more wealthy
households
By income
~56%
of fully or partially
vaccinated people
By
vaccination
adoption3
Source: McKinsey & Company COVID-19 US Consumer Pulse Survey 2/18–2/22/2021, n = 2,076, sampled and weighted to match the US general population 18+ years
9. McKinsey & Company 9
High-income millennials intend to splurge the most, but intent is
also high among Gen Z, all millennials and higher-income Gen X
Signs of spend recovery
>70%
<30% 50–70%
30–49%
32%
50%
53%
29%
51%
66%
63%
34%
65%
82%
66%
46%
1 Q: With regard to products and services you will spend money on, do you plan to splurge/treat yourself in 2021? Figures may not sum to 100% because of rounding.
2 Members of Gen Z were born from 1997–2012, millennials from 1981-1996, Gen X from 1965–1980, and baby boomers from 1946–1964. The Traditionalist/Silent Generation is not included due to a low sample size.
Source: McKinsey & Company COVID-19 US Consumer Pulse Survey 2/18–2/22/2021, n = 2,076, sampled and weighted to match the US general population 18+ years
Expected leisure spend in 20211
% of respondents who plan to treat themselves or splurge
~51%
Plan to splurge or
treat themselves Gen Z
Millennials
Gen X
Generation2
Mid
Low High
Baby boomers
Household income
($50–$100K/year)
(<$50K/year) (>$100K/year)
10. McKinsey & Company 10
This extra spend is expected across categories, and more than half
of consumers plan to treat themselves before COVID-19 subsides
Signs of spend recovery
Expected leisure categories on which people
plan to splurge or treat themselves in 20211
% of respondents who plan to splurge or treat themselves
46
44
43
37
32
30
28
28
27
Out-of-home entertainment
Restaurants, dining out, bars
Apparel, shoes, accessories
Travel, lodging, vacation
Beauty & personal care
Electronics
Items for your home
Household essentials
Fitness, sports, outdoors
Trigger for when people plan to splurge or treat themselves2
% of respondents who plan to splurge or treat themselves on that category
24
16
32
29
32
37
15
26
20
22
26
23
26
21
20
27
22
28
15
13
13
12
14
10
14
18
17
40
45
32
34
33
34
44
34
36
Anytime Family is vaccinated
Govt restrictions lifted / COVID-19 stops spreading
I am vaccinated
1 Q: You mentioned that you plan to splurge/treat yourself in 2021. Which categories do you intend to treat yourself to? Please select all that apply.
2 Q: Which best describes when you will most likely splurge/treat yourself? Figures may not sum to 100% because of rounding.
Source: McKinsey & Company COVID-19 US Consumer Pulse Survey 2/18–2/22/2021, n = 2,076, sampled and weighted to match the US general population 18+ years
11. McKinsey & Company 11
-80
-20
-10
-30
-70
0
-60
-50
-40
10
20
Jun
21
Mar
22
Apr
19
Jun
7
Mar
17
Mar
29
Apr
5
Jul
12
Apr
12
Apr
26
May
3
May
10
May
17
May
24
Aug
2
Aug
23
Oct
23
Sep
24
Nov
9
Feb
22
Expected spending per category over the next two weeks compared to usual1
Net intent2
While net intent for discretionary spend is still negative,
spend intent has recovered steadily since April 2020
Signs of spend recovery
Personal-care products
Groceries
Household supplies
Skin care & makeup
Consumer electronics
Fitness & wellness
Apparel
International flights
Domestic flights
Out-of-home
entertainment
Source: McKinsey & Company COVID-19 US Consumer Pulse Survey 2/18–2/22/2021, n = 2,076; 11/9–11/13/2020, n = 2,024; 10/23–10/27/2020, n = 2,021; 9/18–9/24/2020, n = 1,026; 8/19–8/23/2020, n = 2,026; 7/30–8/2/2020, n =
2,024; 7/7–7/12/2020, n = 1,923; 6/15–6/21/2020, n = 2,006; 6/1–6/7/2020, n = 1,966; 5/18–5/24/2020, n = 1,975; 5/11–5/17/2020, n = 2,002; 5/4–5/10/2020, n = 1,993; 4/27–5/3/2020, n = 2,105; 4/20–4/26/2020, n = 1,052; 4/13–
4/19/2020, n = 1,052; 4/6–4/12/2020, n = 1,063; 3/30–4/5/2020, n = 1,484; 3/23–3/29/2020, n = 1,119; 3/20–3/22/2020, n = 1,073; 3/16–3/17/2020, n = 1,042; sampled and weighted to match the US general population 18+ years
1 Q: Over the next two weeks, do you expect that you will spend more, about the same, or less money on these categories than usual? Figures may not sum to 100% because of rounding.
2 Net intent is calculated by subtracting the % of respondents stating they expect to decrease spending from the % of respondents stating they expect to increase spending.
12. McKinsey & Company 12
Consumers indicate they will spend extra on travel and mobility,
out-of-home entertainment, and restaurants after the pandemic
Signs of spend recovery
1 Q: Over the next two weeks, do you expect that you will spend more, about the same, or less money on these categories than usual?
2 Q: Once the COVID-19 crisis subsides (i.e., once there is herd immunity), do you expect that you will spend more, about the same, or less money on these categories than during the COVID-19 pandemic?
3 Net intent is calculated by subtracting the % of respondents stating they expect to decrease spending from the % of respondents stating they expect to increase spending.
Source: McKinsey & Company COVID-19 US Consumer Pulse Survey 2/18–2/22/2021, n = 2,076, sampled and weighted to match the US general population 18+ years
–15 to 0 Below –15
Above +1 Below 0
Above +25 +15 to +25 0 to +15
Net intent3
Post-
COVID-19
Next 2
weeks Evolution
Groceries/food for home 11
17
Household supplies 6
4
Tobacco products & smoking supplies -4
-3
Food takeout & delivery -10
-10
Meal at quick-service restaurants -6
-13
Toys & baby supplies -1
-15
Personal-care products 4
0
Jewelry -13
-35
Meal at restaurant 13
-27
Apparel 0
-32
Kitchen & dining -4
-21
Footwear -4
-31
Skin care & makeup 0
-21
Home decor & furniture -7
-32
Home improvement & gardening supplies 8
-17
Sports/outdoors equipment & supplies 0
-26
Accessories (e.g., handbags, sunglasses) -7
-35
Net intent3
Next 2
weeks
Post-
COVID-19 Evolution
Pet food & supplies 2 5
Vitamins, supplements, OTC medicines 1 7
Domestic flights -40 14
Hotel/resort stays -42 10
Adventures & tours -27 18
Entertainment out of home -32 16
Pet-care services -9 3
Fitness & wellness services (e.g., gym) -12 8
Personal-care services (e.g., hair salon) -19 4
Gasoline 1 25
Short-term apartment or house rental -29 13
Cruises -21 18
Travel by car -16 21
International flights -26 20
Books, magazines, newspapers -11 -4
Consumer electronics -30 -5
Entertainment at home 1 0
Vehicles -15 -3
Expected spending per category over the next two weeks1 compared to post-COVID-192
% of respondents
13. McKinsey & Company 13
Vaccinated people are more confident that their routines and
finances will return to normal by the end of 2021
Vaccination accelerating recovery
34
36
26
32
52
42
42
39 71
78
86
68
7
4
12
27
68
66
52
40
Vaccinated
67
Unlikely
Interested
Cautious
75
64
70
Already back to normal By Dec 2021
Overindexed on rural consumers vs
all respondents (index 116)
1 Q: When do you expect your routines will return to normal? Figures may not sum to 100% because of rounding.
2 Q: When do you expect your personal/household finances will return to normal? Figures may not sum to 100% because of rounding.
3 Q: How likely are you to get the coronavirus vaccine once it is made available to you? Rated from 1 “not at all likely” to 6 “very likely,” including “I have received the first dose of the vaccine (partially vaccinated)” and “I have already received both
doses of the vaccine (fully vaccinated).” Bars may not sum to 100% due to rounding. Respondents who stated “very likely” (6) and “likely” (5) are considered “interested”; respondents who stated “somewhat likely” (4) or “somewhat unlikely” (3)
are considered “cautious”; respondents who stated “unlikely” (2) or “very unlikely” (1) are considered “unlikely.”
Source: McKinsey & Company COVID-19 US Consumer Pulse Survey 2/18–2/22/2021, n = 2,076, sampled and weighted to match the US general population 18+ years
Expectations on routines returning to normal1,3
% of respondents
Expectations on finances returning to normal2,3
% of respondents
14. McKinsey & Company 14
Vaccinated consumers are beginning to return to out-of-home
activities and spend at near pre-pandemic levels
Vaccination accelerating recovery
Already engaging in
out-of-home activity2
Vaccination
status1
1 Q: How likely are you to get the coronavirus vaccine once it is made available to you? Rated from 1 “not at all likely” to 6 “very likely,” including “I have received the first dose of the vaccine (partially vaccinated)” and “I have already received both
doses of the vaccine (fully vaccinated).” Bars may not sum to 100% due to rounding. Respondents who stated “very likely” (6) and “likely” (5) are considered “interested”; respondents who stated “somewhat likely” (4) or “somewhat unlikely” (3)
are considered “cautious”; respondents who stated “unlikely” (2) or “very unlikely” (1) are considered “unlikely.”
2 Q: Which best describes when you will regularly return to stores, restaurants, and other out-of-home activities? Chart shows those already participating in these activities.
3 Q: Over the next 2 weeks, do you expect that you will spend more, about the same or less money on these categories than usual?
4 Net intent is calculated by subtracting the % of respondents stating they expect to decrease spending from the % of respondents stating they expect to increase spending. It is then multiplied by the % of people who respond as typically
purchasing in that category, to effectively weight the average across categories.
Source: McKinsey & Company COVID-19 US Consumer Pulse Survey 2/18–2/22/2021, n = 2,076, sampled and weighted to match the US general population 18+ years
19%
11%
24%
28% 15%
12%
33%
30%
Net spend intent
next 2 weeks over usual3
Spend Less Spend more
Spend the same
33%
22%
29%
54%
Net intent4
-4
-13
-20
-19
27%
increase
in net intent to spend in next 2
weeks for those vaccinated vs
those interested in vaccination
50% more
vaccinated consumers say they
are engaging in usual out-of-
home activities vs those
interested in vaccination
Vaccinated
Interested
Cautious
Unlikely
15. McKinsey & Company 15
Although still cautious, vaccinated consumers have engaged in
more out-of-home activities than ‘vaccine interested’ consumers
Vaccination accelerating recovery
Out-of-home activities done in the past two weeks by those vaccinated1
% of respondents who did activity within last 2 weeks
17
Get together with family
Go to the gym or fitness studio
Dine at a restaurant or bar
Attend an outdoor event
Go out for family entertainment
Visit a crowded outdoor public place
35
Attend an indoor cultural event
Go to a hair or nail salon
Get together with friends
39
23
18
18
32
32
25
Use public transportation
Shop for groceries/necessities
Travel more than 2 hrs by car
Shop for non-necessities
24
Work outside my home
Travel by train
Go to a shopping mall
Use ride-sharing service
Rent a short-term home
Travel by airplane
25
Stay in a hotel
62
80
18
56
33
36
23
22
17
Increase over
those interested
in being
vaccinated2
1.3x
1.1x
1.0x
1.6x
1.4x
1.5x
1.0x
2.0x
2.4x
1.6x
1.7x
Work
Shopping
Transport/
Travel
Social
Personal
care
Entertain
-ment
2.6x
1.8x
2.7x
1.3x
2.9x
1.2x
1.4x
1.0x
1.2x
1 Q: Did you leave your house for the following activities over the past two weeks? Showing respondents who selected “yes” and also reported as being at least partially vaccinated. The responder base is comprised only of those who have
answered as having done the activity at least once per year prior to COVID-19.
2 Increase in having done the activity is determined between those who indicate being at least partially vaccinated and those who indicate as only “interested” in being vaccinated.
Increase: Below 1x Increase: 1x Difference: 2x+
Source: McKinsey & Company COVID-19 US Consumer Pulse Survey 2/18–2/22/2021, n = 2,076, sampled and weighted to match the US general population 18+ years
Increase over
those interested
in being
vaccinated2
Increase: 1.1–1.9x
16. McKinsey & Company 16
-2%
1 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.
2 Q: Over the next 2 weeks, do you expect that you will spend more, about the same or less money on these categories than usual?
Source: McKinsey & Company COVID-19 US Consumer Pulse Survey 2/18–2/22/2021, n = 2,076, sampled and weighted to match the US general population 18+ years
Footwear -20%
-31%
Apparel -28%
-31%
Home improvement & gardening supplies -5%
-17%
Kitchen & dining -4%
-18%
Skin care & makeup -13%
-19%
Food takeout & delivery -1%
-5%
Tobacco products & smoking supplies 9%
2%
Personal-care products 3%
1%
Groceries/food for home 19%
19%
Meal at quick-service restaurants 2%
-17%
Meal at restaurant -12%
-30%
Accessories (e.g., handbags, sunglasses) -21%
-34%
-16%
Jewelry -33%
Toys & baby supplies 6%
-17%
Home decor & furniture -16%
-32%
Sports/outdoors equipment & supplies -8%
-27%
Pet food & supplies 6%
7%
Vitamins, supplements, OTC medicines 8%
3%
Domestic flights -41%
-41%
Hotel/resort stays -31%
-44%
Adventures & tours -20%
-27%
Pet-care services 2%
-6%
Gasoline 6%
-4%
Short-term apartment or house rental -24%
-26%
Cruises -15%
-24%
Books, magazines, newspapers -1%
-4%
Consumer electronics -20%
-30%
Entertainment at home 8%
8%
Vehicles -11%
Entertainment out of home -17%
-32%
Fitness & wellness services (e.g., gym) 4%
-11%
Personal-care services (e.g., hair salon) -1%
-21%
Travel by car -4%
-19%
International flights -10%
-29%
Household supplies 5%
9%
Vaccinated consumers have a higher net intent to spend, including
for restaurants, in-person services, and out-of-home entertainment
Vaccination accelerating recovery
Net intent1 for expected spending per category over the next two weeks compared to usual2 Net intent between 0 and –15 Net intent below –15
Net intent Above +1
Below 1
Categories with >10 percentage-point
increase in net intent for interested
consumers vs cautious consumers
+1 to +9 –/+1
For vaccinated consumers vs those interested in receiving the vaccine
Net intent2
Net intent2
Vaccinated
Interested Difference Vaccinated
Interested Difference
17. McKinsey & Company 17
Consumers indicate that new digital behaviors developed during
the COVID-19 pandemic will stick
3. Sticky behaviors across
in-home entertainment and
digital wellness
2. Sustained use of novel
purchasing methods
1. Increased online purchasing
+35%
Overall increase in online penetration,
based on credit-card and debit-card spend
~70–80%
of consumers who accelerated their digital
health/wellness engagement say they will
continue post-COVID-19
+60%
growth in restaurant/store curbside pickup
during COVID-19, ~50% expect to continue
using it
Continued digital stickiness
Source: McKinsey & Company COVID-19 US Consumer Pulse Survey 2/18–2/22/2021, n = 2,076, sampled and weighted to match the US general population 18+ years; Affinity Solutions credit-card and debit-
card spend data from 2/2019–1/2021; Facteus debit-card spend data from 2/2019–1/2021
18. McKinsey & Company 18
Online spend penetration has accelerated in the past 12 months
across categories, sustaining April’s peak
+35%
Year-over-year
increase in online
penetration, based on
credit-card and debit-
card spend
19%
18%
20%
27% 27%
25% 25% 25% 24% 24%
28%
29%
26%
Aug
Jan
2020
Feb Mar May
Apr Jun Jul Sep Oct Nov Dec Jan
2021
+35%
Retail-oriented online credit-card and debit-card spend as percent of total1
Source: Affinity Solutions credit-card and debit-card spend data from 2/2019–1/2021; Facteus debit-card spend data from 2/2019–1/2021
1 Year-over-year growth of total sales in last 12 months (2/2020–1/2021) compared to total sales in the prior 12 months (2/2019–1/2020); including the following retailer categories: Amazon, apparel, software & electronics, cosmetic stores; pet
shops, home stores, mass stores, club stores, restaurants, grocery stores, drug stores, discount stores.
Continued digital stickiness
19. McKinsey & Company 19
Retail saw online sales increase during COVID-19; categories with already
high online penetration saw a dramatic spike during April’s lockdowns
37%
81%
48%
2021
(Jan)
Pre-
COVID-19
(Jan/Feb
2020)
Apr 2020
spike
+29%
8%
14% 14%
Pre-
COVID-19
(Jan/Feb
2020)
Apr 2020
spike
2021
(Jan)
+65%
3%
6% 6%
Apr 2020
spike
Pre-
COVID-19
(Jan/Feb
2020)
2021
(Jan)
+112%
Continued digital stickiness
Source: Affinity Solutions credit-card and debit-card spend data from 2/2019–1/2021; Facteus debit-card spend data from 2/2019–1/2021
1“High online penetration retail categories” includes those with >20% pre-COVID-19 internet penetration, i.e., apparel, software & electronics, cosmetic stores; pet shops.
2 “Medium online penetration retail categories” includes those with 7–20% pre-COVID-19 internet penetration, i.e., home stores, mass stores, club stores.
3“Low online penetration retail categories” includes those with <7% pre-COVID-19 internet penetration, i.e., restaurants, grocery stores, drug stores, discount stores.
4 Certain retailers (e.g., Amazon) don’t have categories broken down within credit card and debit card data. Amazon is not included in these groupings.
Online sales as a % of overall sales for credit-card and debit-card spend1,2,3,4
High pre-COVID-19 penetration (>20%)1 Moderate pre-COVID-19 penetration (7–20%)2 Low pre-COVID-19 penetration (<7%)3
20. McKinsey & Company 20
Consumers expect more digital acceleration in categories such as
apparel, consumer electronics, and pet supplies
Greater online presence
Less-accelerated online shift Sustained shift to online
Net intent to continue to purchase online after COVID-191,3
Percent of users who intend to keep doing activity after COVID-19 at same or higher level
Penetration
since
COVID-19
2
1 Q: Will you continue to purchase these categories online after the COVID-19 situation subsides (i.e., once there is herd immunity)? Possible answers: “no, I will stop purchasing online altogether”; “buy less online”; “buy about the same amount
online”; and “buy more online.” Number indicates net intent, calculated by subtracting % of respondents stating they expect to decrease or stop use from % of respondents stating they expect to increase or maintain use.
2 Q: Have you purchased the following categories online since the coronavirus (COVID-19) began? Please select yes or no for each category. Includes % respondents who selected “yes” for the category.
3 Thresholds of categories are defined by the tercile. The first tercile of intent occurs at 18%, and the second occurs at 26%.
Continued digital stickiness
Source: McKinsey & Company COVID-19 US Consumer Pulse Survey 2/18–2/22/2021, n = 2,076, sampled and weighted to match the US general population 18+ years
75
12 25
20
15
9 16 27
10 21 42
11 13 14 17 18 19
45
65
22 23 37
24 26 28 29
80
30 35
31 43
32
55
33 34 36 38 39 40 41 44
30
35
50
Food takeout & delivery
Home decor & furniture Pet supplies
Personal-care products
Groceries
Alcoholic beverages
Apparel
Household supplies
Pet-care services
Kitchen
Accessories
Home improvement
Personal-care services
Fitness & wellness services
Sports & outdoors equipment
Skin care & makeup
Jewelry
Footwear
Consumer electronics
Entertainment out of home
Adventures & tours
Books
Tobacco products
Vitamins, supplements, OTC medicines
Toys & baby supplies
21. McKinsey & Company 21
Intent to use after COVID-191
Percent of users who intend to keep doing activity after COVID-19
Consumers say most food-related pickup and delivery works; social
shopping, apps, and plug-ins have a smaller but loyal following
Source: McKinsey & Company COVID-19 US Consumer Pulse Survey 2/18–2/22/2021, n = 2,076, sampled and weighted to match the US general population 18+ years
1 Q: Compared to now, will you do or use the following more, less, or not at all, once the coronavirus (COVID-19) ) crisis subsides (i.e., once there is herd immunity)? Possible answers: “will stop this”; ”will reduce this”; “will keep doing what I am
doing now”; “will increase this.” Number indicates respondents who chose “will keep doing what I am doing now” and “will increase this” among new or increased users.
2 Q. Which best describes when you have done or used each of these items? Possible answers included: “just started using since coronavirus started”; “using more since coronavirus started"; “using less since coronavirus started” or “using about
the same since coronavirus started.” Possible answers not included: “not using.”
~60–70% of
consumers expect
to continue digital
activities with
COVID-19
acceleration
~45–55% of
consumers expect
to continue digital
activities with
more disruptive
growth during
COVID-19
82
26 68
28 84
38
32 52
30
25
74
34
30
36
15
60
46
40 42
20
44 48 50 54
40
56
45
58 62 64 66 70
50
72 76 78 80
0
35
5
10
Restaurant delivery
Meal-kit delivery
Buy online for
in-store pickup
Deal-finding plug-ins
Purchased from social media
In-store self-checkout
Quick-serve
restaurant
drive-thru
Grocery delivery
Restaurant
curbside pickup
Store curbside
pickup New store/restaurant app
Purchased pre-owned products online
Penetration
since
COVID-19
2
COVID-19 acceleration
Disruptive growth
User growth: 0–19% User growth: 20–39% User growth: 40–59% User growth: 60%+
Continued digital stickiness
22. McKinsey & Company 22
44
38 52
50
42
40
40
48
50
60
46 54 56 72
58 60 62 64 66 68
0
70 74 76 78 80
10
20
30
Digital exercise machine
Used social media
Video chat: personal
Telemedicine: mental
TikTok
Online streaming
Online fitness
Videoconferencing: professional
Remote learning: myself
Remote learning: my children
Telemedicine: physical
Wellness app
Playing online games
Watching e-sports
Cooked regularly
Personal care /
grooming at home
1 Q: Compared to now, will you do or use the following more, less, or not at all, once the coronavirus (COVID-19) ) crisis subsides (i.e., once there is herd immunity)? Possible answers: “will stop this”; ”will reduce this”; “will keep doing what I am
doing now”; “will increase this.” Number indicates respondents who chose “will keep doing what I am doing now” and “will increase this” among new or increased users.
2 Q. Which best describes when you have done or used each of these items? Possible answers included: “Just started using since coronavirus started”; “using more since coronavirus started”; “using less since coronavirus started” or “using about
the same since coronavirus started.” Possible answers not included: “not using.”
Online entertainment and wellness habits adopted during
the crisis are likely to remain for the medium to long term
Source: McKinsey & Company COVID-19 US Consumer Pulse Survey 2/18–2/22/2021, n = 2,076, sampled and weighted to match the US general population 18+ years
COVID-19 emphasized
COVID-19 acceleration
Disruptive growth
~65–80% of
consumers expect
to continue current
level of digital
wellness and
interactive online
entertainment
accelerated during
COVID-19
Limited shift with
COVID-19
~45–55% of
consumers expect
to continue current
level of remote
communication,
learning, health
platforms with
disruptive
COVID-19 growth
Intent to use after COVID-191
Percent of users who intend to keep doing activity after COVID-19
Continued digital stickiness
User growth: 0–19% User growth: 20–39% User growth: 40–59% User growth: 60%+
Penetration
since
COVID-19
2
23. McKinsey & Company 23
Consumers have made many investments in their homes that will
have long-term effects
1 Q: Which of the following have you done in the last 12 months as a result of the COVID-19 crisis? 36% answered “none of these.”
Renovated/remodeled my home
Went back to school
Worked more from home
Moved into a bigger home
Decided to change jobs
4%
Permanently moved to a new city
Set up a specific work-from-home space
Set up a gym at home
Bought a car
Reassessed my investment portfolio
Permanently moved the suburbs
Bought a property
Got a new pet at home (e.g. dog, cat)
Sold a property
Moved into a smaller home
13%
4%
Permanently moved to the countryside
24%
7%
5%
12%
10%
12%
3%
6%
12%
5%
4%
6%
5%
13%
Permanently moved in with family
Pet adoption 13%
House move 19%
Home
renovation
28%
Investments/
Divestments
26%
Changes made in the last 12 months as a result of COVID-191
% of respondents
Source: McKinsey & Company COVID-19 US Consumer Pulse Survey 2/18–2/22/2021, n = 2,076, sampled and weighted to match the US general population 18+ years
Work/study
change
32%
Rebalancing of homebody economy
24. McKinsey & Company 24
However, consumers indicate eagerness to return to out-of-home
activities post-COVID-19
7
17
25
20
16
17
16
30
23
17
8
6
13
23
18
13
15
18
13
14
14
29
13
16
17
15
16
14
11
13
16
18
21
11
Tobacco products
Groceries
Apparel
Quick-service restaurant
Home & furniture
Food takeout & delivery
Restaurant
Jewelry
Footwear
Accessories
Toys & baby
Household supplies
Personal-care products
Skin care & makeup
Sports & outdoors
Home improvement & garden
Kitchen & dining
Decrease Increase
Stay the same
7
7
13
16
19
16
16
16
13
8
20
19
11
19
19
18
20
18
11
13
13
12
14
32
19
24
18
32
17
32
33
38
37
38
30
32
Pet-care services
Vehicles
Vitamins & OTC medicine
Out-of-home entertainment
Entertainment at home
Pet food & supplies
Books/magazines/newspapers
Fitness & wellness
Consumer electronics
Personal-care services
Gasoline
Short-term home rentals
Travel by car
Cruises
Adventures & tours
International flights
Hotel/resort stays
Domestic flights
Source: McKinsey & Company COVID-19 US Consumer Pulse Survey 2/18–2/22/2021, n = 2,076, sampled and weighted to match the US general population 18+ years
Net intent: Above +1 Net intent: –15 to 0 Net intent: Below – 15 Categories with net intent >10%
Expected spending per category post-COVID-19 compared to during COVID-191
% of respondents
Net
intent2
Net
intent2
11% 5%
-10% 0%
-6% -4%
13% -5%
-4% 16%
0%
3%
-13%
8%
-7%
4%
-1%
25%
4%
13%
0%
21%
-7%
18%
0%
18%
8%
20%
-4%
10%
14%
-4% 7%
6%
-3%
Rebalancing of homebody economy
1 Q: Once the COVID-19 crisis subsides (i.e., once there is herd immunity), do you expect that you will spend more, about the same, or less money on these categories than during the COVID-19 pandemic? 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.
25. McKinsey & Company 25
Have you done any of the following since COVID-19 started1,2
% of respondents
More than 75 percent of Americans have tried a new shopping
behavior during the pandemic, and the trend continues in 2021
Evolution of loyalty
40%
39%
34%
29%
26%
Private label/store brand
New shopping method3
Different brand
Different retailer/store/website
New digital shopping method
1 Q: Since the coronavirus (COVID-19) crisis started, which of the following have you done? 23% consumers selected “none of these.”
2 Q: Which best describes whether or not you plan to continue with these shopping changes once the coronavirus (COVID-19) crisis has subsided (i.e., once there is herd immunity)? Possible answers: “will go back to what I did before
coronavirus”; ”will keep doing both this and what I did before coronavirus”; ”will keep doing this and NOT go back to what I did before coronavirus.”
3 “New shopping method” includes curbside pickup and delivery apps.
4 “Growth” is indicated by numbers greater than 1x (i.e., 1x indicates no growth, 1.1x indicates 10% growth).
5 Intent to continue includes respondents who selected “will keep doing both this and what I did before coronavirus” and “will keep doing this and NOT go back to what I did before coronavirus.”
6 Members of Gen Z were born from 1997–2012, millennials from 1981-1996, Gen X from 1965–1980, and baby boomers from 1946–1964. The Traditionalist/Silent Generation is not included due to a low sample size.
Source: McKinsey & Company COVID-19 US Consumer Pulse Survey 2/18–2/22/2021, n = 2,076, sampled and weighted to match the US general population 18+ years
Growth since
Aug. 20204
44% vs. 35%
more millennials/Gen Z have tried a
new brand than baby boomers6
77%
of consumers
have tried a
new shopping
behavior
84%
of millennials and
Gen Z have tried
a new shopping
behavior6
Intent to
continue5
1x
1x
1.1x
1.2x
1.2x
76%
78%
79%
81%
81%
26. McKinsey & Company 26
Value was the main driver of consumers’ switching brands, but they
also switched for reasons of purpose, quality, and novelty
Evolution of loyalty
1 Q: You mentioned you tried a new/different brand than what you normally buy. What were the main reasons that drove this decision? Select all that apply. “Brand” includes different brand, new private label/store brand. Over-arching reason
based on % of individual respondents responding to at least one reason in the group.
2 Members of Gen Z were born from 1997–2012, millennials from 1981–1996.
40%
38%
16%
13%
42%
17%
9%
11%
11%
24%
18%
24%
17%
19%
16%
26%
19%
Wanted to try a new brand I found
The company treats its employees well
Is more sustainable/better for the environment
Better value
Better prices/promotions
Shares my values
Supporting local businesses
Better shipping/delivery cost
Wanted to treat myself
Larger package sizes
Products are in stock
Better quality
Is natural/organic
Wanted to try a type of product I’ve never tried before
Wanted variety/change from my normal routine
Is available where I’m shopping (i.e., in store or online)
Is cleaner/safer
Reason for trying a new brand since COVID-19 began1
% of respondents selecting reason in top three
Source: McKinsey & Company COVID-19 US Consumer Pulse Survey 2/18–2/22/2021, n = 2,076, sampled and weighted to match the US general population 18+ years
42%
of millennials/
Gen Z cite
purpose as a
primary reason2
44%
of millennials/
Gen Z cite
quality/organic as
a primary reason2
Net % of respondents per category
X%
Value 65%
Quality/organic 34%
Availability 42%
Convenience 26%
Purpose-driven 34%
Novelty 33%
Health/hygiene 16%
Personal choice 28%
27. McKinsey & Company 27
During COVID-19, brands from larger companies grew more initially,
but smaller companies now play an increased role in growth
Share of sales, %
Source: Nielsen
$14B
$10B
$548B $14B
1 Nielsen xAOC, super categories excluding alcohol, tobacco, fresh, and general merchandise.
2 Companies with yearly sales are Large > $2.5B; Medium <$2.5B but >$500M; Small <$500M.
3“CY 2018” is calendar year growth from 2017–2018; “CY 2019” is calendar year growth from 2018–2019.
4 Year-over-year growth for 4 weeks ending March 21, 2020, August 8, 2020, and Feb 20, 2021.
$5B
Evolution of loyalty
Share of year-over-year dollar sales growth of consumer packaged goods products
by company size,1,2 %
51
32 34
54
42 44
14 12
14 16
18
30 28
16 34
33
18
35 33
18
10 8
CY 20183 February 20214
August 20204
2019
3 4
CY 20193 March 20204
$4B
Small
Retailer brands Medium Large
28. McKinsey & Company 28
Source: McKinsey 2020–21 Global Sentiment Survey
Trade-off behavior in a standard shopping basket among all consumers by
income tier1
% of consumers, September 2020 and September 2019
>$100K
$50K–$100K
<$50K
US income tiers, household, annual
6
18
4
3
3
17
6
3
3
10
6
10
1 Q: Please indicate how your buying behavior has changed in a standard shopping basket for the items shown in the past 12 months (since September 2019). Select all that apply with option 7 being mutually exclusive and option 1 exclusive from
option 2. Possible answers: 1) “Switching to less expensive brands”; 2) “Switching to more expensive / premium brands”; 3) “Buying the same brand as I bought 12 months ago, but at stores with lower prices”; 4) “Buying only when on sale or
with coupon”; 5) “Buying less frequently of lower quantity of the same brand”; 6)“Have made some other change in how I buy these products”; 7)“Have not made changes in how I buy these products.” Trade down reflects option 1 as a
percentage of all consumers, while trade up reflects option 2 as a percentage of all consumers.
Total
4
16
5
5
3.65X
Evolution of loyalty
While trade-down increased across income groups, trade-up increased
as well for consumers with over $100,000 in household income
2019
2020
Trade down
Trade up
29. McKinsey & Company 29
Disclaimer
McKinsey does not provide legal, medical, or other regulated advice or guarantee results. These
materials reflect general insight and best practice based on information currently available and do
not contain all of the information needed to determine a future course of action. Such information
has not been generated or independently verified by McKinsey and is inherently uncertain and
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Editor's Notes
Stacey: One of the things that has stood out the most in the past few weeks is the unprecedented challenges in availability and the resulting new consumer exposure to different brands. What we have seen in the last 3 weeks, at right, versus the same time period last year is a much higher share of growth