New research highlights future consumer intentions
Service Management Group has published a new wave of research that highlights the immediate and future impact of coronavirus on consumer behaviour.
Using BrandGeek® – its market intelligence tool, SMG collected feedback from more than 5,000 respondents across the UK. A follow-up to the first wave of COVID-19 research SMG conducted in late March, the results shed light on evolving consumer attitudes, purchase behaviour and future intentions.
- Concern for personal health and finances has eased
Respondents are reporting less concern with personal health, with 76 percent expressing concern compared to 82 percent in the initial report. While health concerns have lessened across all age groups and locations, residents of Northern Ireland, London and Northeast England continue to report the highest level of concern. Data also suggests financial concerns have lessened, with 65 percent of respondents reporting concern about personal finances compared with 71 percent in the first wave of research.
- Consumer habits continue to evolve
As the pandemic has evolved, so too have consumer expectations for the shopping experience. Through our partnerships with leading UK retailers, we have seen ease of moving through the store become a key driver of overall satisfaction while store cleanliness has returned to pre-pandemic norms. Amid the pandemic, consumers indicate they have cut back on fuel, takeaway/delivery and clothing + footwear. Subscriptions, alcohol and in-home entertainment are the categories consumers report being most likely to cut back on next.
- Numerous changes in consumer behaviour are likely here to stay
Coronavirus has changed shopping habits considerably, and our research indicates a number of the precautions taken are likely to remain. These include less frequent visits to supermarkets, avoiding crowded locations and cooking more meals from scratch. Consumers who indicate they are strongly concerned about their health are more likely to have changed their behaviour amid COVID-19 and report being even more likely to maintain those changes.
“The coronavirus pandemic has ushered in changes that will undoubtedly impact the future of business,” said SMG Managing Director Jeremy Michael. “As a customer experience management provider, we are helping brands use customer feedback and proprietary behaviour data to anticipate evolving consumer needs, key drivers of satisfaction and opportunities to increase loyalty.”