The Biggest Trends in the Beverage Industry Right Now
By Michaela VoglSep 13
Published July 2nd 2020
To help answer these questions, we used Brandwatch Qriously to survey over 5,000 people in the UK, France, Germany, Italy and Spain via their smartphones and tablets.
Their responses reveal how spending habits changed during lockdown and offer a window into how consumers expect to use their money once outbreaks are contained.
These insights are part of a broader study into behavioural change across Europe over the past few months. You can explore the full reports on changes in consumption and public perceptions around spending, eating, drinking, exercise, and travel here:
So let’s see how people are approaching their personal finances.
With income security still hanging in the balance for many, and palpable public concern over how businesses are maintaining safety standards during the pandemic, some people have been making essential purchases only.
Home improvements, personal electronics, subscriptions, and new vehicles are just some of the purchases people have put on hold or cancelled during the pandemic.
Could the drop in purchases over the last few months prompt a spike in demand now, as retailers open up and supply chains clip back together? Or are consumers going to continue to be scrupulous with their money? Have they decided that a new car or smartphone just isn’t so important to them anymore?
To understand how consumers’ mindsets are shifting, businesses will need to monitor consumer attitudes and behaviours in real time, and prepare for irregular sales patterns in 2020 in order to either meet increased demand or mitigate loss. Sign up for our free daily data bulletin to learn more about how consumers are changing.
To explore how people are likely to manage their money in the wake of the current health crisis, we asked about their spending and saving intentions.
Up until recently, lockdown in Europe has prohibited many social and cultural activities. But, as venues and experiences start to reopen, businesses will be wondering: “if we build it, will they come?”.
As part of our Brandwatch Qriously survey, we asked our 5,000 respondents what leisure activities they’d prioritise when they’re safe and permitted to do so.
Some of these stats are somewhat reassuring for gyms, leisure, and entertainment businesses. However, it’s one thing to know that your audience is itching to “get back on the treadmill”, but quite another task to convince them to walk boldly back through your front door. Even once government measures are lifted, people won’t necessarily feel safe.
As part of our ongoing research using Brandwatch Qriously, consumers are revealing a reluctance to re-engage with public activities without more safety measures. Rebuilding customer trust is likely to be an arduous task.
Across the countries we surveyed, 38% of respondents say the pandemic has changed the way they shop. We know the shift will be due to a number of factors, including store closures, supply shortages, and changes in personal finances.
But will these new shopping habits stick around post-Covid-19? Have consumers had a chance to experience “a new way”, and reevaluate what’s most important to them?
To add colour to people’s values and preferences when it comes to shopping, we asked what factors they would prioritise after the pandemic.
These findings may be an indication that brand loyalty suffers in turbulent times. As lockdowns continue to lift, brands will have to work hard to win back customers who have either chosen to or had to shop differently over the past few months.
We recommend checking out our new Brand Loyalty Report for practical tips on increasing customer trust in difficult times.
If your business wants voluntary, fast, and candid consumer feedback to help you make swift and effective decisions, Brandwatch Qriously is the solution you’re looking for. Capture an accurate pulse on product sentiment, shopping preferences, current affairs, or local issues to stay agile in an ever-changing global context.
Our unique sampling methodology and zero-incentive approach delivers candid consumer feedback businesses can rely on.
Watch this short video to see how Brandwatch Qriously can help you make smarter decisions:
View our UK Brandwatch Qriously report to discover how the pandemic has affected consumption and what consumers expect to do next.