Are we buying less or just different in these times of COVID-19 and a looming economic crisis?

With shutdowns, lockdowns, isolation, and workplaces reducing hours – there’s serious concerns that the local, national and global economies are in for serious trouble.

People are going out less, eating out less and certainly not window-shopping – but does that mean they aren’t consuming and spending?

They likely are, but only differently.

Governments and organizations continue to work toward containing COVID-19 and stemming the growing humanitarian toll it is exacting. Meanwhile, consumers globally are feeling its economic effects and are still pulling back dramatically on discretionary spending. European countries are the least optimistic, while China’s optimism is higher, and Chinese consumers’ intent to spend across select categories is starting to recover.

Consumers have shifted toward digital channels, products, and services across categories, but that shift has not come close to offsetting the overall reduction in spending. McKinsey and Company – April 2020

If you are a journalist covering what is driving consumer behavior, where the dollars are going and if they will ever return to where they used to be – then let our experts help with your coverage.

Dr. Pamela Rutledge is a scholar-practitioner, integrating her expertise in media psychology with 20+ years as a media producer. She applies behavioral, social and neuroscience to understanding the impact of media content and technology design and anticipating audience behaviors. Dr. Rutledge focuses on identifying human motivations, behavioral triggers and instinctive drives to inform messaging and data strategies that deliver actionable insights. She is available to speak with media about these issues – simply click on her icon to arrange an interview today.