As governments and organizations continue to work toward containing COVID-19 and stem the growing humanitarian toll it is exacting, the economic effects are also beginning to be felt. Through a series of regular, global surveys, we are tracking how customers’ expectations, spending, and behaviors are changing throughout the crisis across multiple countries over time. Please check back regularly for updates.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
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.
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.
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.
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
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.
As governments and organizations continue to work toward containing COVID-19 and stem the growing humanitarian toll it is exacting, the economic effects are also beginning to be felt. Through a series of regular, global surveys, we are tracking how customers’ expectations, spending, and behaviors are changing throughout the crisis across multiple countries over time. Please check back regularly for updates.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
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.
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.
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.
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
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.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
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
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
To what extent are you committed to success? Don’t miss the most compelling marketing event of the year. Come and hear how three leading marketers have dealt with challenging situations, turning them into outstanding successes. Here is your opportunity to ask questions and workshop issues and ideas. Learn how to focus your marketing energy, recognise what you are good at and charge on!
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.
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
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.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
Central American consumers from Panama, Costa Rica, Guatemala, Honduras, and El Salvador are most concerned about their safety, the health and safety of their families, and public health generally during the COVID-19 crisis.
These exhibits are based on survey data collected in Central America from September 1–11, 2020. Check back for regular updates on Central American consumer sentiments, behaviors, income, spending, and expectations.
While consumer optimism remains steady, we see signs of discretionary spend recovery.
These exhibits are based on survey data collected in the United States from February 18 through 22, 2021. Check back for regular updates on US consumer sentiments, behaviors, income, spending, and expectations.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
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.
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.
Consumers in the Dominican Republic are concerned about the COVID-19 crisis and uncertain about its impact on the economy. Over 50 percent of consumers have mixed feelings about economic recovery.
These exhibits are based on survey data collected in the Dominican Republic from September 1–29, 2020. Check back for regular updates on consumer sentiments, behaviors, income, spending, and expectations.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
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
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
To what extent are you committed to success? Don’t miss the most compelling marketing event of the year. Come and hear how three leading marketers have dealt with challenging situations, turning them into outstanding successes. Here is your opportunity to ask questions and workshop issues and ideas. Learn how to focus your marketing energy, recognise what you are good at and charge on!
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.
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
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.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
Central American consumers from Panama, Costa Rica, Guatemala, Honduras, and El Salvador are most concerned about their safety, the health and safety of their families, and public health generally during the COVID-19 crisis.
These exhibits are based on survey data collected in Central America from September 1–11, 2020. Check back for regular updates on Central American consumer sentiments, behaviors, income, spending, and expectations.
While consumer optimism remains steady, we see signs of discretionary spend recovery.
These exhibits are based on survey data collected in the United States from February 18 through 22, 2021. Check back for regular updates on US consumer sentiments, behaviors, income, spending, and expectations.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
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.
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.
Consumers in the Dominican Republic are concerned about the COVID-19 crisis and uncertain about its impact on the economy. Over 50 percent of consumers have mixed feelings about economic recovery.
These exhibits are based on survey data collected in the Dominican Republic from September 1–29, 2020. Check back for regular updates on consumer sentiments, behaviors, income, spending, and expectations.
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
Social Media is a booming field which help you to enhance your business performance and make your business a brand name on the marketing. Social Media is very helpful for those person or business holder which are looking for instant business growth.
Contact me if you have any query and want to social media marketing services.
The Coming Change in Social Media by Social Media TodayElizabeth Lupfer
In a major paradigm shift that is impacting public relations and marketing oranizations, companies are now viewing social media as their front line strategy for customer engagement, immediate contact, and lead generation. This means the software tools we use in the social space will be changing a lot too. This gamebreaker call was based on research developed by our resident trendspotter, Josh Gordon, in Social Media Today's latest free download white paper The Coming Change In Social Media. It's our focus here at Social Media Today to help frame the issues and put them into perspective so that community members can use them as a roadmap and drive the future of social media. Don't get behind the curve.
The Social Consumer, study explores the factors that inform, impact and shape trust, loyalty and preferences of the digitally connected consumer.
In this study, we tested the belief that brands which can tap into emotions about and awareness of their values (human/social) are most likely to inspire positive action and loyalty from consumers.
Our view is that the super-connectedness of global communications has challenged how companies interact, engage and maintain relevance and trust with their key audiences and the public-at-large. As such, the reputation of a company is no longer defined by what they “report” or what they “say” they stand for. Instead, they are increasingly defined by the shared opinions and experiences of socially-connected consumers.
The findings reflect a number of surprising and validating insights, informed by surveys completed by 927 respondents mostly from the U.S. with about 10 percent from rest-of-world with great distribution and balance across age and gender.
Trajectory NOW & NEXT: Ten consumer trends that will impact all marketers, an...Eric Brody
This semi-annual report highlights ten consumer trends which we believe will have a lasting impact on how consumers will be interacting with brands. While all brand marketers will benefit from this report, it has a particular slant towards healthcare marketers and health and wellness marketers.
Key conclusions from the report: We have become focused on efficiency rather than effectiveness. Programmatic practices have led to an emphasis on delivery costs and rapid results. Context presents untapped value that delivers business outcomes. Industry headlines about brand safety mean now is the moment to re-evaluate context, look at the evidence and provide an argument for re-investment in high quality environments such as published media.
All media is in a battle for attention and multi-media consumption has become the norm. Consumers are, however, still prepared to give published media their undivided attention, they see the value that advertisers are perhaps neglecting to fully exploit.
Harnessing Social and Mobile to Court the Digital ConsumerCognizant
Our recent research shows the myriad ways that digital consumers are increasingly incorporating social and mobile technologies into their shopping and buying experiences.
Brand stories are in a constant state of motion due to a rapidly changing media ecosystem that spans across devices, places and channels. Brands must create deliberate threads of content that engage consumers in their daily motion, as well as create, co-create and amplify content in real-time, living Stories in Motion.
Brands and their stories are now in motion at a greater velocity than ever before…across devices, platforms and channels. This means brands must move away from static messages and single-platform content and create, co-create and amplify real-time, living Stories in Motion.
Over the last 18+months, consumer behavior has witnessed tectonic shifts owing to the pandemic. Capgemini's recent report highlights these dynamic trends and evolving consumer behavior for consumer products and retails industries as we move forward in the new year.
In today's digital environment, it's important that we take a new approach the engaging patients and healthcare professionals. Learn three important ways to ensure a more focused and successful approach multi-channel pharmaceutical marketing.
How social media is redefining the approach to research.
For more white papers and webinars, go to http://www.sldesignlounge.com
Or visit us at http://www.sld.com
Most consumers are open to sharing, communicating and contributing
directly with manufacturers; indeed, this is rapidly becoming an
expectation. Brands have an open platform to do so through digital and
mobile channels and can no longer afford to be one step removed from
the consumer. The journey is just beginning, and it’s anyone’s game.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
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.
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Business Valuation Principles for EntrepreneursBen Wann
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.
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.
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.
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.
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
The key differences between the MDR and IVDR in the EUAllensmith572606
In the European Union (EU), two significant regulations have been introduced to enhance the safety and effectiveness of medical devices – the In Vitro Diagnostic Regulation (IVDR) and the Medical Device Regulation (MDR).
https://mavenprofserv.com/comparison-and-highlighting-of-the-key-differences-between-the-mdr-and-ivdr-in-the-eu/
1. The Game Changer
How the recession has created permanent
changes in consumer behaviour
2. The Game Changer
The convergence of technological, social and economic
forces is unique and changing the face of marketing.
Consumers are agile and are shaking themselves out of
settled patterns of behaviour.
The internet is now a tool for life. It has moved beyond
the rational world and into the emotional environment.
Consumer control has been accelerated, and the
dynamics of influence have shifted in favour of individuals
and the communities to which they belong.
Consumer values are shifting away from brand heritage
to integrity and authenticity. Brands need to demonstrate
that they are on the side of the consumer.
3. NEW OPPORTUNITIES ARISE AS
CONSUMERS RE-APPRAISE BRANDS
Consumers in Western Europe and the US are showing significant and
permanent shifts in their media consumption, purchasing behaviour The Methodology
and attitudes to brands as a result of the changing economy. Overall, Initiative used its proprietary online
the trends across these countries are very similar, with the exception consumer panels, the Connections
of China, where the economy has been less affected by the global Panels to seek the opinions of
downturn. The figures in this report focus on Western Europe and the 3,200 economically active family
US unless otherwise stated. and pre-family online consumers
to understand what the current
Our research has shown that 70% of respondents feel that the economic climate means for
economic crisis has now stabilised with some signs of optimism going them and how it has affected their
forward. Overall, 63% of consumers have been directly impacted by behaviour. The research covered
the economic downturn and have changed their behaviour as a result. seven countries: UK, Germany,
We have identified four distinct consumer segments that classify how France, Spain, Italy, US and
people are coping: China.
‘Confidently Secure’ (11% in Western Europe and US, 28% in China)
- Not impacted by the downturn, carrying on life as normal. Sufficient
money in the bank and security to comfortably see them through
tough economic conditions.
‘Live for Today’ (26%) - Not impacted and carrying on life as normal.
Limited savings cushion but take a positive ‘Live for Today’ attitude to
life.
‘Hurt but Optimistic’ (39%) - Directly impacted and cutting back on
spending. Optimistic that things will improve soon.
‘Feeling the Brunt’ (24%) - Directly impacted and cutting back spending
to the basics.
4. CONSUMERS TAKE CENTRE STAGE IN
SHIFTING MEDIA LANDSCAPE
• The internet (search, Across all markets, 45% of consumers keep up to date on the economic
portals, news sites, situation at least once a day. Television is still the most popular way
forums) is providing the of doing this, followed by the internet. 80% cite TV in their top three
most balanced view of the sources, with 41% saying it is their primary source. However, 71% cite
the Internet in their top three with 27% as their primary source. So
economy
while TV has higher reach overall, it is the Internet that comes first in
• Consumers are exploring terms of being a reliable and detailed source of information (on average
multiple sources online 35% more reliable/detailed than TV).
before forming their own
opinions
• Traditional newspaper
brands are still key
sources of information, but
content is being viewed
online
• The internet is now seen
as a more reliable source
of information than TV
However, it is in the area of allowing consumers to explore every
angle - therefore enabling them to make up their own minds about
the economic climate - where the internet really comes into its own,
scoring 50% higher than TV.
People are still relying on trusted and traditional brands for information
such as the newspapers, but they are turning to them online. The
primary information sources across all markets are a general search
for information (64%), reading online newspaper websites (56%), and
looking at the finance/business sections of portals such as MSN and
Yahoo (44%).
While consumers generally aren’t interested in the political twists and
turns of the recession, they are interested in the detail of how each
development is likely to affect them personally. There would appear
to be a perceived distinction between newspaper content (fuelling
the day-to-day sequence of political controversy) and online content
5. (which offers analysis, as well as opportunities to view reactions of real
people on blogs and forums), even from the same media brands.
Implications for Marketers
Recessionary pressures continue to accelerate consumer control as
people embrace the behaviours, platforms and resources that enable
them to take control. As communication dynamics shift from push to
pull, so do the ‘sources of influence’ requiring brands to engage with
consumers on their own terms, through a wider array of touchpoints.
Consumers all around the world have learnt new behaviours. There is
no going back - many of these changes are permanent
CHANGING CONSUMER VALUES
PRESENT OPPORTUNITIES FOR BRANDS
There has been a significant drop in the trust of the establishment as • Trust in institutions and the
a result of the economic crisis. The least trusted institutions across all establishment continues
markets (excluding China) are ‘government’, ‘financial services’, and ‘oil to be eroded
companies’. On average, just 9% of consumers trust their government
– down 57% year-on-year. The figures are similar for financial services, • Individuals are seen as the
17% (down 56% YOY) and oil companies 11% (down 39%YOY). most trusted sources of
information
Instead, we are placing our trust in each other, with 76% trusting
friends and family, 48% trusting expert opinion and 43% trusting online • Consumers are re-
consumer content (blogs, forums, review sites etc), compared to only evaluating their
20% trusting editorial in traditional media. understanding of trust
• ‘Reliability’ and ‘honesty’
What engenders trust in companies and institutions has also changed.
are more important than
It is no longer about being ‘well known’ and ‘established’. Instead, the
key words that consumers are using to describe the most important
brand heritage
qualities in developing trust in a company or institution are ‘reliable’,
‘competent’, ‘open and honest’ and ‘secure’. This suggests that the
most important quality in the current climate is ‘individual experience’
either directly with the product or service or via word-of-mouth.
These findings are challenging to the marketing model where
advertising is used to build trust and reassurance through persuasive
claims about size and longevity. While the research emphasises that
trust will not be easy to build or communicate, it does suggest that
6. consumers are more interested in knowing about how businesses
conduct themselves, and there is an opportunity for some companies
to convincingly separate themselves from the pack. An example is
the financial services category that has long been ‘low-interest’ for
consumers (with brand perceptions slow to change), where there is
now an opportunity to become more differentiated and dynamic.
The most important qualities in developing
trust in a company or institution are
reliability, competence, openness and honesty
In contrast, supermarkets are increasingly seen as trustworthy in
this current climate, with 40% expressing trust in them. This is a
reflection of another big shift in perceptions. There is a recognition that
supermarkets have responded to the everyday pressures on people’s
lives in small practical ways providing an authentic positive consumer
experience.
Implications for Marketers
There is a need for a new approach to communications founded on
integrity, transparency and authenticity. Forward-thinking brands will
adapt business practices and re-think communication channels in
order to deliver on the new consumer expectations. Shrewd marketers
will tap into social platforms with authentic content in order to influence
the influencers. Ultimately, brands need to demonstrate they are on the
side of the consumer and communicate values that are increasingly
personal and local.
7. INTERNET AND MOBILE ARE
CONSIDERED ESSENTIALS FOR LIFE
Having access to the internet at home has become an integral part of • Cutting spending on the
everyday life providing multiple offerings for entertainment, information, internet is an absolute last
communication and shopping. It is viewed as the most essential resort
technology platform by 75% of consumers (slightly less in Spain and
Italy where internet penetration is lower). In addition, only 11% of • Mobile phones are now
consumers said that the internet would be the first or second thing to seen as more essential
go if they were forced to cut spending in the area of technology and than landlines
communications. Overall, consumers are 40% more likely to maintain
spending on the internet compared with all other forms of technology
• Magazines are considered
and communication services. less essential forms of
media
The mobile phone is considered the second most essential form of
• Premium pay TV is seen as
technology, coming in at 56%. Only 42% of people now consider
expendable
landlines to be essential, and while spending in this area is likely
to be maintained, there is a clear downward trend, with pre-family
consumers less likely to agree that landlines are essential.
While the internet and mobiles are considered essentials for life, the
economic climate is still having a significant impact on technology and
communications, with 25% of consumers reducing their spending in
this area, and 15% cutting spending altogether. Only 30% of those
‘Feeling the Brunt’ have maintained spending in this area, compared
with 80% of the ‘Confidently Secure’.
Magazines are under pressure, with consumers saying they are 33%
more likely to cut spending in this area. The other two areas likely to be
hit by spending cuts are newspapers and premium digital TV packages,
which are seen as non-essential. The fact that they are expendable is
a reminder that in many households the budget is actively managed
by the woman of the house - whatever the working circumstances or
family configuration - and she is often the agent of change.
Implications for Marketers
The internet is now one of the tools for life. It has also expanded beyond
the rational environment. Consumers now have a strong emotional
connection with the online world. This presents brands with a wealth
of opportunities for emotional as well as factual communication.
Communities have become increasingly important, requiring marketers
to look more holistically at their social strategies. And there is still a
clear need for marketers to work out how to communicate online with
women – the household decision maker in many countries.
8. MOST CONSUMERS HAVE
CHANGED THEIR PURCHASING
BEHAVIOUR IN THE PAST YEAR
• 75% have changed their There has been a re-evaluation of spending patterns as a result of the
purchasing behaviour in economic climate with consumers weighing up needs against wants.
the past year Looking across a variety of categories, on average 75% of consumers
have changed their purchasing behaviour over the past year. Consumers
• A re-evaluation of needs are employing coping strategies ranging from trading down to cheaper
versus wants is having a brands to lifestyle changes. Consumers are being savvier about their
profound effect on many purchases in some categories in order to treat themselves in others.
categories It is within the ‘Necessity’ categories where coping mechanisms are
most apparent. Consumers are reconsidering their requirements from
• Brands are being re- brands and adjusting their spending accordingly.
appraised with shifts in
loyalty taking place If we take grocery as an example, we see that the key area in which
consumers are most likely to maintain their spending is fresh produce:
• Bargain hunters proliferate
fruit (22% more likely to maintain spending compared with the all
with selective buying of
category average), meat (19%) and dairy (17%). This indicates that
treats product quality and taste are areas where consumers are not willing to
compromise. The figures do vary by market and category. For example,
German consumers are only 5% more likely to maintain spending on
fresh meat, while Italian consumers are 36% more likely.
It is the commodity categories that are experiencing the highest price
sensitivity. This is impacting on brand loyalty as consumers seek to
save money by trading down to cheaper brands/own label, or buying
on promotion, of which the latter is the most common across all
categories. An example is household cleaning and laundry where
consumers are 34% more likely to buy a cheaper brand and 29%
more likely to buy a retailer brand. There are product areas where
consumers are prepared to compromise, but only to a certain extent.
For example, people are less likely to buy food and personal care
categories on promotion versus the non-food categories. Furthermore,
in skincare and toiletries, consumers are more likely to buy cheaper
branded products rather than own label alternatives. For example, UK
consumers are 16% more likely to trade down to cheaper branded
products in skincare, but show no skew towards trading down to
retailer brands. This is clear evidence that it’s not all bad news for
brands. There are key categories where brands provide a reassurance
of quality and consumers will spend a little more to avoid the risk of
compromising on performance.
9. Another strategy we have observed is rewards in the form of ‘Treats’
in areas of overall cutbacks. This is happening in both smaller and,
surprisingly, larger items such as holidays and eating out. This is an
area of commonality between all consumer groups with on average
20% of those who are ‘Feeling the Brunt’ saying that they will treat
themselves, while the figure for the ‘Confidently Secure’ is 17%. This
shows that even the worst hit consumers are indulging themselves
from time to time in order to cope with the pressures of the economic
climate. Consumer motivations are often emotional, not rational, and
the opportunity is for brands to continually strengthen their bond with
consumers.
the more radical coping strategies are putting purchases on hold
or, even worse, cutting spending altogether. Categories hardest hit
are not surprisingly, the high-ticket items such as furniture, home
entertainment and automotive. However, there are people who are
still actively buying in these markets. Taking cars as an example, only
16% on average have entirely cut their spending in this area. Germany
is least hit at 10%, helped by the government assistance program
keeping sales afloat, and Spain most hit at 22% as a result of the lower
availability of credit in a market where the vast majority buy cars using
payment plans. Overall this implies that sales in these category areas
can be best stimulated through more precise targeting.
Implications for Marketers
This recession is a game changer. Global economic changes have
shown what is possible when consumers are presented with compelling
information, communicated on their terms. It is an inspiring reminder
of how consumers will change behaviour quickly and deftly to adapt
to new circumstances. In the short term, marketers can benefit from
impulsive and intuitive behaviour through offers and promotions. In the
near and mid-term, marketers will need to satisfy consumers’ need
for information and advice. And while adapting to these changes,
marketers must maintain brand equity in a world of shifting consumer
priorities.
10. THE RECESSION IS DRIVING ONLINE
SHOPPING AND PRODUCT COMPARISON
• Largest increase in Internet usage has increased across every country in our survey
internet usage is in over the past year. However, the largest increase is coming through
searching for coupons and searching for coupons and offers, growing at 58% year-on-year. This
special offers is entirely in line with the current economic climate as consumers are
looking to save money wherever they can.
• Consumers are spending
more time researching The next key areas of growth are researching for information (+49%
purchases across all YOY), reading consumer content online (+48% YOY), and buying
categories products online (+48% YOY). These findings show that the current
economic climate is helping to accelerate the use of the internet for
product purchasing. Consumers are spending more time researching
products and gathering opinions from other people before purchasing.
As a result, people are thinking more deeply about products, raising
huge opportunities for brands to develop and strengthen their
relationship with consumers.
Implications for Marketers
Consumers have always given the most trust to recommendations
and guidance from friends, family and experts. The recession has
heightened this, presenting marketers with greater opportunities to
help create and connect with online platforms that facilitate consumer
information exchange. Discounts and promotions have become a
new form of social currency. Money-saving offers are shareable and
have given rise to great social connectivity. As communities become
an increasingly important way to socialise and validate information,
marketers need to ensure they understand the dynamics of influence.
11. THE CURRENT ECONOMIC CRISIS
IS A GAME CHANGER
The economic downturn is game changing in its effect on consumer • Just under 70% will be
behaviour, with 26% of consumers saying that they plan to continue maintaining some or most
with most of the changes they have made, with a further 40% of their new purchasing
continuing with some changes. behaviours
The attitude and behaviour change resulting from the economic
downturn will continue to dominate in the upswing too, creating even
more opportunities for brands to engage with consumers who are
making new assessments of where they will spend their money.
Some consumers have experienced a life-changing attitude shift, and
will make permanent changes in their values and attitudes. These
will affect how they consume products, and what they expect from
brands in the years ahead. There seems to be a particular momentum
among family consumers for this values-led shift, reflecting not just
their purchasing power (and now purchasing squeeze), but also a
particular interest in bringing some old-fashioned perspectives to a
young generation that have only ever known the good times.
12. About the Connections Panels
The Connections Panels provide everything a marketer
needs to know about consumer behaviour in order to
build truly engaging brand activity. They provide a single
source for information on touchpoints, consumers and
purchasing. Panellists can be contacted anytime, in any
place to obtain fast, fresh insights on just about any topic.
We currently have Connections Panels in 20 countries,
comprising 100,000 individuals. This will grow to 150,000
individuals across 30 countries by the end of 2009.
About Initiative
Initiative (www.initiative.com) is a media, marketing
and digital company that transforms media exchanges
into marketing results. Owned by the Interpublic
Group, Initiative is part of media management group
Mediabrands and a partner of Magna, IPG’s centralized
media negotiation entity. Initiative employs more than
2500 talented professionals, working in 91 offices across
70 markets, worldwide. Initiative’s comprehensive range
of marketing-led communications services include:
research and insight, media planning and buying,
digital communications solutions, content creation, and
evaluation and accountability services.
For more information about the Game Changer
research, the Connections Panels, or Initiative,
please contact:
Tim Collison
Director of Worldwide Marketing Communications
Initiative
42 St John’s Square
London EC1M 4EA, United Kingdom
T +44 (0)20 7073 7319
E tim.collison@uk.initiative.com