Consumers' positivity has been ticking up slowly but surely since November, like the little train saying, "I think I can, I think I can, I think I can."
With an 8pt spike in positivity last weekend, a majority American's shouted a resounding message.....it's time! It's time for living life again. It's time to safely re-engage. And, by the way, it's no coincidence that retail sales grew by 9.8% as reported by the US Commerce Department over this same time period.
Across the country, the tide turned. Joy over fear and optimism over pessimism rule the day, finally!
364 days later since our #CovidReEntry framework was born, at last, we have come full circle with 56% of Americans ready to venture out. There are three drivers of this boost in confidence.
Many Americans have more jingle in their pockets with recent stimulus checks
Half of Americans have raised their hands and rolled up their sleeves to get vaccinated
Americans have been inching their way back to more normal activities, and discovered it's pretty good. They want to safely experience more.
What’s most remarkable - in the Northeast, the “First out the Door” segment doubled!!! The South had the highest point gain in positivity, rising from 45% to 56%.
· Total US 56% +8
· Northeast 58% +3, The “First out the door” group doubled from 11% to 22%!
· Midwest 59% +8
· West 54% + 8
· South 56% +11
When we looked at the demographic shifts, Males earning under $50K per year now hold the strongest positivity of any group. Other gains were among Females and Millennials.
· Male Under $50K 57%, +11
· Female 50-100K 53%, +12
· Female $100K 54% +9
· Millennials 54%, +12
With demand building at increasingly fast speed, supply and labor challenges are stretching operators to the limit. It's not a new challenge, yet it is different now.
So what? Now what? The Double Dip
Yes, it's time for a quick happy dance to celebrate this incredible milestone. Booming demand and cash registers ringing are welcomed changes for all businesses.
Yet, with demand building at increasingly fast speed, supply and labor challenges are stretching operators to the limit. It's not a new challenge, yet it is different now.
Why? Americans have been experiencing social and sensory deprivation for the last year, so what will they be craving? Exceptional joyful experiences, not just the food.
Ask yourself this, "How can I deliver an exceptional experience, even when labor is short?"
Those that can answer and effectively execute will be the winners in the coming months.
And remember, lead with joy and reassure with safety. 30% of Amercians are still "anxious/very anxious" #JourneyBackToJoy
Survey data collected April 8 - 12, 2021 by Lisa W. Miller & Associates and Prodege, LLC from a nationally representative sample of 1,000 adults 18 years and older. Trend comparisons from the Journey Back to Joy Covid Tracking Study with 29 waves of data collection and 29,000 consumer surveys collected nationwide since March 2020.
lwm-associates.com
Click here to learn more about this thought provoking initiative "Gearing Up For The Consumer Re-entry & The The Journey Back to Joy"
Comments