Together with fineline market research, we conducted a study in June 2020 amongst a national representative sample of 800 adults in the UK.
The objective was to understand: what are consumer’s emotions and concerns are in relation to the COVID-19 crisis? Overall, various concerns remain high: almost everyone is worried about the impact on the economy and 71% stated that their finances have been impacted. But a clear theme of “British” and “Local” demonstrates consumers desire to contribute to recovery.
In detail, the study focuses on five different aspects: shopping habits, food & cooking, travel, banking and banking communications.
Of course, the COVID-19 crisis and the consequent lockdown affected consumer spending. During lockdown, 77% of people claimed that they spent less than before. Some of that expenditure seems to have only taken a pause: 20% of people expect to spend more on shoes, clothing and beauty. Some also found their passion for gardening: 26% expect to spend more in this category after lockdown.
Food & cooking has also been a major topic during lockdown. Especially younger families, who appear to have relied heavily on takeaways and are more likely to utilise home-cooking “supporting” items like cooking kits and meal kit delivery. Guided home-cooking and meal kits built around the topics “local” and “home” seems to offer an attractive potential for growth.
Analysing the travel sector, a strong desire for independence when holidaying is prominent: people look for privacy through apartments, villas, small hotels. Self-catering is as popular.
But also banking and banking communications reveal some interesting changes, with consumers expecting to engage in a more digital way than seen before with their finances.
For more details, Scott Hinton, Managing Director of fineline market research, will be happy to send you the complete report.