How do consumers feel in regard to financial confidence since Covid-19?
Our survey indicates that 25% of people are feeling marginally worse off and will be an important group to watch as we come out of lockdown, as 1-in-4 of this group are currently on furlough?
This group have spent more on insurance compared to other groups who have spent more on gardening, home improvements, health & fitness, hobbies and given more to charities. Interestingly a similar proportion of people are feeling better off (11%) compared to those who feel ‘Much Worse Off’.
This ‘Better Off’ cohort includes key workers, those that have worked from home or are in sectors that have benefited from Covid-19 and have spent freely across the board.
The ‘Much worse off’ group tend to be younger & experienced higher levels of redundancy, although they have continued to spend on health & fitness.
The largest group who feel ‘About the same off’ (53%) are older and either retired or kept working as normal, this group have significantly increased ‘savings & investments’.
Our ‘Top Line Report’ includes insights into future spending as well as travel intentions for 2020/21.
&You will be running a #benchmark survey in early August to track the changes in attitudes and behaviour for all groups and are looking for brands from different sectors to run sector specific questions.
If you are interested in your brand taking part in the #benchmark survey, please contact Nic Edwards / 07540837358.