COVID-19 Consumer Survey Insights Summary for weeks 1-10
Summary This report is part of the COVID-19 Survey Insights series, which tracks changes in consumer sentiment, lifestyles, attitudes, and behaviors stemming from the global coronavirus outbreak. The consumer insight offered throughout the report is drawn from Coronavirus (COVID-19) Tracker Consumer Survey, a weekly survey that was carried out in 11 countries starting from March 25 2020.
The pandemic has prompted consumers to reassess what is important to them, and how their product choices and behaviors can more effectively meet their needs and reflect their values. This has resulted in a broad range of attitudinal shifts, particularly with regards to health maintenance, approaches to shopping, and purchase influences.
Scope - Over the course of the 10 week survey, anxiety levels have fallen slightly but still remain high - despite levels of optimism improving in many countries. Lingering levels of anxiety illustrate the long-term impact that the pandemic has inflicted on consumer confidence.
- The widespread “panic buying” and stockpiling that was evident during the pandemic was concentrated to a few key categories. Household cleaning products attracted the strongest increase in demand, as consumers sought to protect their home environment from germs and thoroughly disinfect any potential breeding grounds for virus transmission.
- In order to curb spending, many consumers opted to purchase products at the lower end of the price range. This was particularly so for savory snacks, bakery, cereals, and morning goods, and non-alcoholic drinks.
Reasons to Buy - Identify the reasons underpinning consumers’ lifestyle changes and behavioral adjustments during the pandemic.
- Gain insight into the key consumer trends that are most likely to drive innovation.
- Put innovative products into context by connecting them to specific consumer trends and preferences.
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