Thursday, June 18, 2020
|Survey: Consumer behavior continues shifting during pandemic|
|Published Tuesday, May 19, 2020|
Comparative surveys conducted in March and April demonstrate many COVID-19-related consumer trends have accelerated since the crisis began. Retail and supply chain enterprise software provider Blue Yonder surveyed 1,000 U.S. adult consumers in both March and April.
Almost three quarters (74%) of consumers surveyed during April said they were doing more shopping online as opposed to in-store in response to COVID-19, a 30% increase from 57% when the same research was carried out in March. However, almost seven in 10 (69%) respondents continued to shop in-store for groceries despite the COVID-19 in April, virtually unchanged from 68% the prior month.
Consumer spending has been declining at an increasing rate since March, according to survey results. Sixty-eight percent of consumers said they are spending less because of the pandemic in April, up 39% from 49% in March. Another 35% of consumers said they were spending significantly less, compared to 22% in March–a 59% increase.
Other notable findings from the April survey include:
• Of those respondents that had groceries delivered, more than half (54%) said they experienced delays, with 28% stating their delivery was delayed by more than three days.
• Almost nine in ten (87%) consumers encountered out-of-stock products during their most recent shopping experience in March.
• Three quarters (75%) were more likely to buy the same product from a different retailer if their desired product was out of stock, while 78% were more likely to buy a different brand of product from the same retailer if their desired brand of that product was out of stock.
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