Revisiting COVID-19: American Consumers 60 Days Later
As soon as COVID-19 proved itself to be a big deal by keeping us, and many Americans, safe at home, C+R Research developed a COVID-19 Task Force to keep a pulse on changing consumer behaviors. As we have watched the emotional roller coaster COVID-19 has been for consumers, and the term “new normal” grow in popularity, we began to wonder what the future would look like.
So, in early April, we touched base with consumers to understand how all of this impacted them, what concerns they had, and where behaviors may have changed. And, in early May and again in June, we reached back out to those same consumers to see what had changed. Learn more about what we found in our COVID-19 Impact on American Consumers Infographic.
By May, the initial shock of COVID-19 and quarantine had worn off, but behaviors changed, and possibly permanently.
When we re-visited these consumers, the economy remained the biggest concern for Americans as we watched unemployment claims climb above 36 Million. Not surprisingly, concerns about job security remained the same from April to June as well. But, as people began to get used to living with the threat of COVID-19, many other concerns began to decline such as concerns around health, ability to get necessities, and personal safety and security.
And, most behaviors that had changed in April versus pre-COVID times, remained changed in May and June. People reported cooking and cleaning more. Shopping for clothes less, but shopping online for other things, including groceries more. Many have started working out at home while they can’t go to the gym, and many will continue to do so. And overall, they are spending less, investing in the stock market less, using cash less, but saving and baking online more. When asked about these changed behaviors, the majority of people said they’d stick with these behaviors even after the threat of COVID-19 has subsided.
There’s no telling what the future holds, but we are sure that there is a strong potential for massive behavior shifts due what we’ve collectively experienced over the past 4 months. And as this journey continues, we’ll be sure to keep a pulse on consumers.