Consumer Behavior Winter Update — COVID-19
As vaccine availability grows, a good deal of uncertainty continues to loom around what exactly winter has in store — particularly as it relates to COVID-19 — and consumers continue to reassess and modify their own version of consumerism.
To keep a pulse on just how the pandemic has impacted consumer behavior, our Market Intelligence team pulled together the most credible research available on COVID-19 and its effect on the marketplace.
Here’s a snapshot of stats from recent weeks that we found to be some of the most compelling.
For a deeper, more industry-specific dive on COVID's impact on consumer behavior, see below:
- Hospitality and Travel
- Restaurants and QSRs
- Financial Services
- Charitable Giving
COVID-19 and consumer behavior
Here are 10 new numbers from our latest market research.
- People plan to make an average of 67% of holiday purchases online this year — compared to the average of 56% last year.
- When asked, "How soon from now would you be comfortable shopping in stores?" 51% said now while 26% say they plan to wait at least six months. [source]
- 46% are willing to pay more at a hotel that implements increased safety precautions. [source]
- Nearly 90% prefer that the hotel they visit has a mobile app offering the ability to completely manage their stay without having to interact with a person. [source]
- When asked, "How soon from now would you be comfortable going on vacation/traveling?" 53% of Americans say it will be at least six months. [source]
- When it comes to car buying, 72% do not feel the need to finance a car in person. And 55% would like to sign and pay for an automotive purchase digitally. [source]
- 78% of consumers say that the days of going into a physical financial institution are coming to an end, accelerated by the COVID-19 lockdowns (up from 57% in 2019). [source]
- Only 20% of consumers think traditional financial institutions are evolving fast enough to keep up with consumer needs and expectations. [source]
- Nearly 75% of consumers are concerned about catching COVID-19 while grocery shopping. [source]
- 75% of consumers said they would be likely to go to a restaurant and be seated outside in an enclosed and heated tent, if standard social distancing measures were followed.
Stay in the know
As consumer behavior continues to change amid the pandemic, so will our monthly updates.
For more on RRD's response to COVID-19 and related resources, head here.