The Big Consumer Financial Trends for 2021
By Sabrina DorronsoroMar 30
How connected is your organization to its customers?
Published June 10th 2020
With the global health crisis causing disruption to many people’s routines, everyday habits have gone out the window.
Money, eating, drinking, shopping, and exercising activities have changed for almost everyone, regardless of their location or background.
In a recent Brandwatch survey, we found that this is especially true for people in the UK.
In comparison to respondents in other countries in Europe, Brits were more likely to say the pandemic had affected their lifestyles in nearly every category we asked about.
Using Brandwatch Qriously to survey 5,000 people across Europe via their smartphones and tablets, we explored how the pandemic has changed the choices we’re making as consumers.
In this blog, we’ll focus on eating and drinking habits. But you can view the full report on how perceptions of travel, holidays, exercise, spending, and shopping habits have changed in each country here:
So, without further ado, what’s cookin’?
Our relationships with food have gone through a lot over the last few months. Whether it’s because of bare shelves in shops, closed restaurants, attempts to stay healthy, disrupted schedules, or more free time to fill, many people’s diets have changed.
One third of respondents across all the countries we surveyed said the pandemic has changed the way they eat.
By doing further research into the different groups of people sharing their preferences, brands can work out how to best serve consumer needs, spot emerging trends, and pursue new growth opportunities. For example, here’s how Brandwatch worked with The Good Food Institute to understand consumer perceptions around the plant-based meat industry and support product innovation.
Across the countries surveyed, an average of around one in five people said the pandemic has changed their drinking habits. Respondents in the UK over-indexed for this behavioral change, with one in three people reporting a shift.
We asked the people whose drinking habits have changed what they’re doing differently.
As lockdowns begin to ease across Europe and the hospitality industry starts to find its feet, restaurants and bars can rest assured that consumer appetite to go out for food and drinks remains strong.
Nearly half of all respondents placed “socializing at bars and restaurants” as a top priority post-lockdown, with people in Germany and the UK showing the strongest desire to eat and drink out over other pastimes.
However, businesses will need to address consumers’ concerns about safety and cater to their new found needs before footfall gets anywhere near back to normal.
Watch this video to learn more about how Brandwatch Qriously can shed light on new consumer priorities, needs, and wants:
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Get the full UK Qriously Report to discover how the pandemic has changed consumers’ attitudes toward travel, holidays, shopping, spending, exercise, and more.