Consumers have lost confidence
Since our first report, published in July 2020, consumers have lost confidence in their interactions with the outside world. They are less inclined to go out and more likely to feel that the impact of COVID-19 will last more than a year. Claimed overall net spend across all categories in the next 6-12 months is -22 percent lower vs. pre-COVID-19 and spend on non-essential purchases, is expected to drop by - 34 percent.
Globally, 21 percent of consumers want to stay at home as much as possible (+3 percent vs. W1). A third (32 percent) now think the situation will last more than a year, a rise of +12 percent vs W1. This is seen most among the financially overwhelmed (39 percent).
