RESTON, Va. — Resonate, a provider of AI-driven marketing data and intelligence, recently unveiled the findings of a flash survey of 5,000 Americans that provides insights into how the ongoing COVID-19 outbreak is fundamentally changing buying habits and sentiments. The Resonate Coronavirus Connected Flash study posed more than 100 questions on how people are viewing and adapting to the current crisis across a broad spectrum of industries and categories, including their travel plans.
Sample insights from the survey include the following:
Consumer Sentiment and Behavior
Eighty percent of people are more worried about their financial health vs. their physical health. Two-thirds (65 percent) of people say they’ve left their home one to three times in the past week to visit a store, restaurant, or other retail establishment. Eighteen percent have done so four or more times, while 17 percent said they have not left home for those reasons.
Financial Plans
Sixty-one percent reported decreasing their spending as a result of the COVID-19 situation: 34 percent of people are less likely to remodel or refurbish their homes; 32 percent are less likely to purchase a house; 24 percent are less likely to take out a personal loan; and 20 percent are less likely to leverage new financial services at all.
Travel Plans
Among people who have canceled airline or hotel reservations as a result of the COVID-19 situation, 15 percent report that they’ve rebooked their travel plans. Two-thirds of people (67 percent) think it will take until at least Fall 2020 for their travel activities to return to normal. More than one in four (26 percent) expect it won’t be until 2021 or later.
Retail Behavior
More than half (55 percent) say they’re more likely to purchase products online in the next 90 days, and 41 percent are more likely to purchase groceries online. Ten percent say they’re more likely to start a subscription to a service such as a meal delivery kit in the next 90 days, and 21 percent are more likely to cancel an existing subscription service.
