10 months have passed since our earlier report on consumer sentiment during the COVID-19 crisis. What has changed since then? Are things finally looking up..? A new survey from McKinsey provides answers.
The study by management consultancy giant McKinsey is insightful. It identifies six fundamental shifts in consumer behaviour, which florists should absolutely take note of. These trend changes will have a lasting impact, and affect your business greatly.
What are these fundamental shifts? Here are a few telling examples:
- Consumers expect to spend significantly more once restrictions are eased, especially the younger generations
- Brand loyalty is down and shopping routines are rapidly changing
- The habit of online shopping is expected to stick, even after the pandemic passes
Optimism looms on the horizon
Europa is more pessimistic about economic recovery than other regions of the world, meanwhile. But optimism is slowly ticking up, so hang in there.
All the main results from the survey by McKinsey are available here, as a handy SlideShare presentation:
Individual country data
Would you like the survey data from just your own country? Data from 14 individual European countries is available at the bottom of this page. The Americas and the Asia-Pacific region are included as well!