US & Global Economic Impact Analysis and Forecasts

Freedonia analysts and economists are sharing their insights on how major events are impacting different parts of the US and global economies.

Fresh Consumer Insights on Shopping Habits During the COVID-19 Pandemic

According to data from The Freedonia Group’s newest National Online Consumer Survey conducted in April-May 2020, the coronavirus pandemic continues to impact US shopping habits.

58% of consumers report that the coronavirus pandemic has negatively impacted their ability to buy non-essentials. Consumers are still seeing many retail outlets closed. and delivery of non-essential items is not moving as quickly as it was before the pandemic. Retailers can respond by improving their online processes and offering local delivery using their own staff.

74% say that they are minimizing their time spent shopping or browsing in stores. Consumers are concerned about exposing themselves and their families to the virus or are frustrated by lines and changes in procedures, so they are interested in being efficient with their time in brick-and-mortar stores. Retailers can respond by clearly labeling aisles, providing disposable maps to new shoppers, and keeping enough staff on hand to ensure that lines move swiftly.

49% say they are spending more time finding deals and specials. Unemployment filings are still rising, and the national unemployment rate rose to 14.7% in April, so many consumers are feeling economically insecure even if their personal work situation is stable. Retailers can respond with clearly labeled discounts, online coupons, and other benefits for loyalty card holders, and – in an era of rising food prices – note where prices are being held steady.

For more information, see The Freedonia Group’s coverage of the consumer goods and packaging industries as well as our sister publisher Package Facts coverage of various consumer industries, including pet products and services, food and beverages, and payment cards and related services.

  Consumer Goods      Covid-19