Deloitte has released the latest edition of the company’s “Global State of the Consumer Tracker,” which points to gains in consumer confidence and convenience-based shopping habits.
Conducted in early November, the tracker demonstrates shifts in sentiment and spending intentions since the COVID-19 peak in April. The report derives from a series of monthly surveys conducted around the globe designed to establish a better understanding of the interplay between personal safety and economic vulnerability as purchase decision and consumer behavior drivers.
Among the key findings included, Deloitte determined that safety perceptions are trending upward, with 61% of adults saying that they “feel safe” going to the store, up from 30% in April. At the same time, 41% of respondents said they were willing to pay for convenience to get the things they need, which is consistent with findings since early April. Protecting health, at 45%, outranked saving time, at 42%, and reducing stress, at 33%, as the main drivers of convenience spending. Contactless buy online pick-up in-store is rapidly accelerating, as consumers view it as faster than in-store shopping, at 34%, and a safer alternative, at 32%, while 36% of respondents said they use the BOPIS services because they are cheaper than delivery.
As consumers prepare to spend more time at home as rebounding coronavirus numbers prompt fresh movement and shopping restrictions, 29% of respondents said they are planning to scale back on clothing purchases and the same proportion said they plan to spend less on restaurants over the four weeks following. However, demand for leisure travel over the next three months is picking up, Deloitte reported, with 24% of consumers now planning to take a domestic flight, 21% planning on renting a car, and 13% planning to take an international flight. One-third of U.S. respondents said they would feel safe flying again, whatever the destination, up from 23% on April 9, while 45% of U.S. travelers reported they would feel safe staying in a hotel, a pandemic high, up from 19% on April 9.