With Delta Variant on the Rise, Consumer Confidence Is Waning—Again

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Consumers became hopeful again over the summer as the vaccinations increased and started to contain the spread of COVID, but that hope has once again diminished. Despite gains made in consumer confidence as recently as last month, new research from experience management firm First Insight indicates a significant shift in momentum, finding that the unvaccinated plan to stay that way, and the Delta variant is negatively affecting consumer confidence in the U.S.

Of the respondents unwilling to get vaccinated, 90 percent of them indicated that they won’t consider getting the vaccine to ensure access to restaurants and businesses across the country that have begun to implement proof-of-vaccine mandates.

Additionally, the survey saw a 25 percent increase since July 2021 in the number of consumers admitting that they are “very or somewhat worried” about COVID, from 51 percent to 64 percent, the highest one-month jump recorded since March 2020.

Spending will likely suffer

The recent findings further indicate that more than half (56 percent) of the consumers surveyed will be cutting back on their spending, an increase of 8 percent over last month.

“It is very telling that a mere 10 percent of respondents say they would consider getting the vaccine due to some businesses and restaurants requiring proof of vaccination,” said Greg Petro, CEO of First Insight, in a news release. “It appears that people’s minds are made up about whether to get vaccinated and more education may be required to change their minds. Hopefully, we will spend the time and effort to do so for everyone’s sake, thus allowing everyone to make his or her own, educated choice.”

Since the onset of the pandemic, First Insight has been engaged in a longitudinal study, polling more than 10,000 American consumers in total balanced across gender, geography and generations to gauge their overall concern about the virus, how COVID-19 will affect their spending, and whether the vaccine’s availability would alter their shopping behavior. This most recent study was fielded on August 5, 2021.

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online survey  Survey Results  consumer spending  in-store shopping  Coronavirus  COVID-19  Consumer Purchase Behavior  Purchase Decisions  spending habits  back-to-school