Step by step, we are making progress.
We have been tracking consumer sentiment towards #CovidReEntry each week with 1,000 consumers since March with the thesis that the #CovidPathForward will happen through JOY not FEAR. Businesses are opening when they can, but there is uncertainty if consumers will come. We identified three important signals that we have turned the corner.
#1: We’re half-way there in communities that are reopened
As of June 8, 51% of consumers report that their communities are now opened vs 25% still having Stay At Home orders. Another 20% report that restrictions will be lifting in the next week.
#2: We're almost half-way there on consumer readiness to venture out
43% of Americans fall into the two segments that are most ready to get back to normal, "Out The Door First" and "Taking it Slow", up 8 points since the week ending May 11th. Back in mid-May, consumer readiness was at its lowest point at just 35%. Also significant, the “Very Anxious” segment grew to its highest point that same week of May 11th and then held steady at 21% for four straight weeks. Yet, for the week ending June 8th, "Very Anxious" declined 5 points to16%.
So, how is it going for those consumers venturing out first? We asked, and these are just a few examples of what we are hearing:
"Out the Door First" Segment
“I FINALLY went out to 1 restaurant sit down but I want to go see some pro sports next”
“It is about time! We are going back to the gym and will soon get back to dining out and seeing movies as well.”
“Happy and hope to get to normal”
"Out there, Taking It Slow" Segment
“I have been proceeding with caution and am taking things one step at a time”
"I ate on the patios of a couple of local restaurants with small groups of friends. It was lovely. Felt almost normal.”
“I went out and got a haircut first. Then, went to my favorite bar and ordered a beer and cheeseburger. Then, went to my golf course to get a tee time for the following day”
#3: Which activities are half way there?
We took a look at the Covid Segmentation framework by business vertical. Some businesses have the advantage as their customer base are more likely to want to venture out. If you work in any of these industries, it gives a glimmer of hope that customers will return. We started with consumers that raised their hand that these activities would be their top 3 activities once America reopens, then overlaid the Covid Consumer Segmentation framework. The activities with the highest concentration of leading consumers are:
Attend night/club or bars
Attend college/ professional sporting events
Play golf
Workout at a gym
Family Entertainment Center
Go to the beach/lake
Theme park/water park
What do many of these have in common? They skew to families and to males. The gender divide we identified a few weeks ago continues.
Our survey results are based on a weekly survey fielded among a nationally representative sample of 1,000 Americans aged 18+ by ProdegeMR, a leading market research panel. I would like to thank my research partners at ProdegeMR for providing the continued support to get this important research done!