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Powertrain, Body, Chassis and Safety

Consumer Spending Impacts of COVID-19 Pandemic

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Report Summary:

It is difficult to overstate the impact that the COVID-19 pandemic has had on consumer spending (some positive, but mainly negative), since the related restrictions on normal life came into full effect in Q1 in many markets.

Consumer confidence and outlook has changed dramatically in many categories, and with many people still unsure about what will happen next and what that will mean for them, doubt and uncertainty has grown.

We can see the shift in general consumer sentiment towards the situation in the relatively short period between the March and April waves of our COVID-19 research in the US, UK and China. Over the course of a few weeks, we can see opinion hardening regarding the impact of the pandemic.

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How do you make a return on the large investments into mobile infrastructure required for 5G? How do you meet consumers requirements for a better service whilst being sensitive to price changes? And how do vendors present their value proposition to gaining a worthwhile share of the market?

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