COVID Fatigue and Election Ambivalence: Consumers Will Spend Regardless Of Election Outcome

October 16 2020 by Greg Petro

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COVID fatigue is real. The compounded stress and exhaustion from worrying about the virus is a key consumer behavior factor First Insight has been tracking since February 2020. Surprisingly, our study found that consumers say the election outcome will have little impact on how much they buy, including for the holidays.

First Insight research on the impact of Coronavirus on purchase decisions and behaviors found that consumers are not basing future shopping decisions on the outcome of the election. In fact, the report shows a mere 1 percent difference exists depending on which candidate is elected, 55 percent of consumers saying they will spend more or the same if President Trump is reelected compared to 56 percent saying the same if Joe Biden is elected.

Meanwhile, consumers are experiencing COVID fatigue, with worry about the Coronavirus receding by over 20 percent since April, from 87 percent to 69 percent. Recent McKinsey research also notes that even though 80 percent of consumers report still feeling somewhat unsafe, activity is picking up, with one-third of consumers resuming “normal” out-of-home activities. The impact of Coronavirus on consumer purchase decisions showed a 27 percent decrease in our research, down to 65 percent, versus the highest peak reported in April (89 percent).

Read the Full Article at Forbes

consumer spending  Coronavirus  COVID-19  Consumer Purchase Behavior  Purchase Decisions  election

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