COVID-19 Tracking Changing Consumer Behaviors and Implications for Brands
US, UK and China Consumers
Strategy Analytics shares our analysis and insights on the changing consumer attitudes and expectations about covid-19 impact on consumer life and technology purchases. Additionally, we evaluate how users perceptions of key brand groups have changed in the US, UK and China based on how they have handled the pandemic. Two waves of online surveys with national representative samples of adults were conducted March 21-24 and April 21=25.
In this report, we provide a small taste of the key themes from the research data focusing on:
- Increased optimism that pandemic will level off soon but higher realization that this will change lives forever
- Almost all consumers feel their life has changed with over half saying completely or significantly changed.
- Significant usage gains for key activities like internet access, video calls, video streaming from a month ago
- Increased pessimism as more users plan to postpone purchases of both big ticket items (homes, new cars, major appliances, vacation) as well as convenience/security/entertainment items (smartphones, eldercare products, 5G)
- Specific products/services purchased or planned due to covid-19 from low penetration items like ar/vr, elderly care, smart video to high penetration smartphones, tablets, computers.
- Which groups have started using brands because of favorable impressions? Which have stopped using brands due to negative impression
- Impacts positive and negative of covid-19 on brands across Consumer, Technology, Media, Telecom, Automotive groups
- Specific brand favorability impression across Amazon, Google, Netflix, Tesco, Boots, Alibaba, Tencent, Huawei, Baidu