As lockdowns and restrictions begin to ease a little in many countries, phase three of this research looks at how the situation is evolving. Are consumers growing more optimistic and confident? Are they starting to plan for a return to normality? Have they been making plans for those purchases they delayed, those vacations they didn’t book, or those other day-to-day behaviours that they had to put on hold?
While the first and second releases of the international study showed the scale of the impact, and this third wave looks towards the post-outbreak future.
An interesting take away is that half of consumers support “normal” advertising from brands, but there is a need for them to tread carefully.
According to the report, from a list of 11 possible actions that brands could be taking at the moment, running “normal” advertising which is unrelated to coronavirus scores the lowest approval rating.
Nevertheless, it’s still 52% globally who approve of this, with the figure passing 60% in Brazil, India, Italy, and Spain. In no country do we see approval dip below 40%.
Topping the list of brand actions are the provision of practical information / tips to help people deal with the situation (83%) and pledging money / aid / supplies (83%). That’s followed by two more financially oriented activities: running promotions (81%) and offering flexible payment terms (80%).
Most options tracked in multiple waves have either seen no real change to their global figures, or a slight decrease. The obvious exception to this is running promotions, which is up by 6 points – suggesting that many people are preparing to start purchasing again, and are looking for financial support from brands.
Promotions have an appeal which transcends the age, income and gender breaks although, interestingly, the higher income group is 5 points ahead of the lower income one. Clearly, the appeal of value-for-money in the post-Covid landscape will be widespread.
You can download the full report here for more detail.