Perspectives on consumer spending habits through COVID-19
To better understand how changes caused by the coronavirus crisis will impact brands and retailers across the UK over the long term, we partnered with Lansons to this study “Consumer Spending through COVID-19: How the crisis has changed our spending behaviour.”
Our spending habits are unlikely to return to normal. The crisis has had a profound impact on the wat we spend and shop and this shift is likely to have long term changes on how we interact with brands and businesses.
The research was conducted in two waves over the course of 2020. The first wave was conducted in May amongst a nationally representative sample of 1,222 UK adults (aged 18+). The second wave was conducted in August and consisted of another nationally representative sample of 2,001 UK adults (aged 18+). It revealed these key findings:
- A nation of more informed spenders
- Utilitarian spend is on the rise
- Building a connection now is key
- Consumer spend turns local
- Hidden behaviours matter too
Read the full report here:
