Over the last few weeks, many businesses have begun to reopen their doors, and once quiet streets are now seeing an increase in activity. As some people begin to spend more time outside their homes, how is consumer confidence faring, and where are behaviors changing most notably?
Since late March, we have continued to conduct weekly surveys of select DISQO audience members as part of our ongoing Consumer Confidence Study, and the results of the fourth edition of the report — spanning twelve weeks of responses — are available today.
Each week, over 10,000 people have shared their perspective on:
- Reported online shopping behaviors
- Engagement in everyday consumer activities
- Plans for engagement in future activities
- Concerns impacting consumer confidence
- Overall spending shifts
Here are some highlights from our fourth edition of the study:
- Online purchases are slowing down. When first surveyed on March 23rd, one-third (33%) of all purchases were being made online. Online shopping saw its peak (44%) from April 27th through May 4th, but has since decreased (-9%). As of June 8th, 40% of all purchases are being conducted online.
- Spending habits are stabilizing. Reported spending activity has rebounded from early April lows. Specifically, most people (55%) report that their spending thus far in June is on par with May levels. Similarly, the number of people reporting a reduction in spending has consistently fallen each week since April 6th, now at 27% versus a peak of 50%. That said, the number of people increasing their spending month over month has only seen slight movement since late March, currently resting at 19% of the population.
- In-store grocery shopping is preferred over online groceries. In-store grocery shopping dropped quite noticeably (-14%) from March 23rd to March 30th, but has since increased. As of June 8th, 71% of people report purchasing groceries in-store, marking a midway point in the rebound for grocers. Meanwhile, online grocery has lost most — albeit not all — of the growth it enjoyed in April, with only 20% of people reporting that they had recently ordered groceries online, down from a peak of 24% in early May.
- Dining out is surging. When first surveyed on March 23rd, 7.6% of people reported that they had recently dined out at a restaurant, a figure that had fallen to 0.8% by April 20th. Since then, reported restaurant visitation has surged significantly, with 14% of people reporting a recent visit as of June 8th. Similarly, plans to dine out within the next two weeks have increased steadily since April 6th, with notable acceleration in dining out plans since May.
- Concern over finances is declining while job security is growing. While 88% reported some degree of concern over their personal finances on May 25th, this number has decreased slightly to 86% only two weeks later. Approximately 67% of people reported worries over job security on May 25th. As of June 8th, concern has decreased (-6%) to 63%.
- Apparel purchases are climbing faster than health & beauty. Since week one, apparel purchases have seen a 65% increase. The most noticeable spike can be seen between May 18th and May 25th. As of June 8th, 28% report making a recent apparel purchase. When looking at health and beauty products, we notice more frequent dips in interest over time.
The fourth edition of the report includes 25 new charts, showing changes week over week on topics related to COVID-19 as well as a deep dive into the latest week. As future editions of the study are conducted, the official report page will be updated, and we will continue to provide updates on the DISQO blog.
For additional highlights, methodology, and access to the full report, visit the DISQO Consumer Confidence Study report page.