What are businesses thinking if the stay at home ban is extended and how long can we collectively endure a stay at home order? What are the needs beyond financial?
While we can’t speak for how long all businesses can endure the stay at home order, we do know that there are a lot of needs beyond financial. As the consumer landscape has shifted during the pandemic it has become clear that the way businesses communicate to their consumers is extremely important. Whether the stay at home order is extended, or whether businesses are able to begin opening again in mid to late May, clear communication of things such as what each business is offering, how they fared during the pandemic, and store hours will be extremely important.
I would like to know if they have any insight into what high school seniors and their families are thinking concerning college plans. And also those with associate degrees, considering bachelor’s degree completion plans now.
The data found that 44% of respondents have taken or would consider taking online courses or training to further skills of education since the COVID-19 hit. While the data does not indicate specifically what high school seniors and their families are thinking concerning college plans, much of those decisions will likely depend on how colleges themselves plan to open back up again.
Will you address spending/interest in service industries, including medical, legal, finance and marketing?
Our data found that 94% of respondents were concerned with their own and their families health and 64% are more likely to consider using telemedicine or digital healthcare since COVID-19 hit. In terms of data from the financial sector, the survey found 36% are using digital banking products at their financial institution more since COVID -19 hit.
Are consumers increasingly patronizing self-help and entertainment services online, such as life coaching, tarot, meditation, etc.?
While the survey doesn’t indicate specifically about self-help services, the data does show that 31% of respondents are spending more in the health, wellness, and personal care categories.
Are you seeing people turn to radio, TV or the internet for their news? Statistics for that? Additionally, and more specifically, without sporting events, where and to what media are the sports fans turning?
People are going through “sports withdrawal” and they want to find sports content wherever it is. Media outlets are finding ways to connect even when there aren’t live games, making themselves the relevant source for sports news even during a pandemic. Creating new content based on old content, thinking of new angles and approaches to their platform. Others are staying engaged with their fans through social media
Should everyone who is returning to work be tested twice even though they are asymptomatic?
We aren’t qualified to answer medical questions, but the CDC is a good first source of information regarding COVID-19.
Based on the numbers and your “best guess”, which industries do you think will return to productivity and profitability the fastest? Where are the most employment opportunities going to be?
The industries that didn’t go dark (essential businesses) will return to productivity most quickly. Those who continued to engage with their customers and provide services, even in limited capacities by rethinking their business models, will also come back more quickly. There will be pent up demand for barbers, salons, in-person dining at restaurants, elective medical procedures, etc. How quickly they come back will depend on the loosening of social distancing restrictions and new procedures that will be in place. We also believe that businesses that begin to communicate now on how they will be ready to re-open (cleaning and social distancing procedures) will be well positioned to quickly win market share.
How is the mattress/pillow/bedding market influenced?
Home improvement is a category where about 1 in 10 said they will use all or part of their stimulus check, and the #1 category of spending after living expenses. After spending weeks focused on staying inside, this category could see an uptick.
Consumer behavior towards spending. Whether People will go for Premium products. Health And Hygiene in terms of Safety and Cleanliness is going to be a priority of people ??
Right now it’s a question of supply and demand. People will compromise brands for availability. There will continue to be a demand for cleaning/sanitizing products. There will be an expectation of greater transparency of a company’s cleaning and sanitizing practices. If you’re a salon for an example, you’ll want to post in your business and also on your website and on social media what you’re doing to keep your clients safe and healthy.
What are the best tools to utilize when transitioning to the digital market?, What advice would you give for a start-up business trying to gain exposure and clientele during a a time like such?, Once I understand where people are spending time & money, whats the best approach to getting their attention?
When it comes to digital marketing, the best tools are going to depend on what your objectives and needs are. Marketing tactics like display advertising or sponsored content work well if you are looking to gain more brand awareness, and tactics such as search engine marketing and search engine optimization work well if you are looking for more conversions. For a start-up our biggest suggestion right now is to focus on brand awareness and communication. Think both long-term and short-term about how you can show value- the more you can make people aware of how you can help them right now the more they will favor your brand for the future.
What is happening with beer sales for off premise consumption? Where are consumers shopping – liquor stores, grocery, specialty, or predominantly on line? Are they going for new items or staying with old favorites? Best practices to communicate with consumers about beer?
While our data doesn’t indicate spending habits specifically about beer and alcohol, we do suggest that best practices to communicate with consumers about beer are to let them know how and where they can make purchase, and creating content and communication that keeps people engaged with your brand while the pandemic is happening.
Are students and parents looking for colleges closer to home due to the Covid-19?
While our data doesn’t suggest that students are looking towards colleges closer to home, it does show that 44% of respondents have taken or would consider taking online courses or training to further their education since the COVID-19 hit.
How is the crisis impacting charitable giving?
While our survey did not look into the impact on charitable giving, research from Fidelity Charitable indicates that there has been an increase.
If you’re interested in learning more about the study, please provide your information below to access the full presentation and audio recording. We hope that this information gives you insights, provides some peace of mind and helps you look toward a bright future that is hopefully right around the corner.
Consumer COVID-19 Study
Additionally, if you are in need of marketing services to help you stay relevant now, well helping to prepare for the re-opening to come, please reach out to firstname.lastname@example.org. One of our marketing experts will work with you to develop custom strategies to help you kickstart your business.