Consumer Confidence in the Context of COVID-19
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?
To provide ongoing answers, DISQO is now sharing the fourth edition of our Consumer Confidence Study. Since March, DISQO has conducted a weekly survey of select DISQO Audience members, seeking to understand:
- Reported online shopping behaviors
- Engagement in everyday consumer activities
- Plans for engagement in future activities
- Concerns impacting consumer confidence
- Overall spending shifts
Each week, over 10,000 people have shared their thoughts with us. In this report, we are observing trends over the first twelve weeks, as well as looking deeper into the 12th survey, which concluded on June 8th. As further editions of the study are conducted, and we continue to track consumer confidence over time, updates will be made available.
Share of Purchases Made Online
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 Over Time
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.
Reported Grocery Shopping Methods
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.
Over the last twelve weeks, restaurant takeout and delivery have seen relatively similar growth rates (at 11.5% and 11.0% growth, respectively). Notably, a majority of people now report utilization of restaurant takeout, a threshold that was first crossed on May 25th. As of June 8th, 51% of people report ordering food for takeout and 21% report ordering food for delivery.
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.
Since the first week, 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.
Concerns Over COVID-19
Concern over contracting COVID-19 remains higher than the concern for spreading the virus. In fact, as of June 8th, 87% are worried about contracting the disease while 82% are concerned over spreading COVID-19.
Concerns Over Small Businesses
As of may 25th, concern over small to mid-sized businesses increased to 93%. As of June 8th, this worry has dropped slightly to 90%. Concern over large corporations is much lower in comparison, with 68% reporting some level of worry.
Each survey was conducted online, distributed to a nationally representative sample of DISQO Audience members within the United States via the Survey Junkie platform, which is wholly owned by DISQO. Surveys were taken on both desktop and mobile devices.
Each survey was distributed one week apart, with responses collected over a three-day period beginning on Saturday and closing on Monday. Distribution dates and respondent volume for each survey are as follows:
|Survey Distribution by Edition|
|DISQO Consumer Confidence Study, March through June 2020|
|Survey Edition||Collection Period||Respondents|
|Week 1||Mar 21 — Mar 23||n = 11,250|
|Week 2||Mar 28 — Mar 30||n = 10,399|
|Week 3||Apr 04 — Apr 06||n = 10,925|
|Week 4||Apr 11 — Apr 13||n = 10,564|
|Week 5||Apr 18 — Apr 20||n = 10,546|
|Week 6||Apr 25 — Apr 27||n = 10,676|
|Week 7||May 02 — May 04||n = 10,804|
|Week 8||May 09 — May 11||n = 10,365|
|Week 9||May 16 — May 18||n = 10,311|
|Week 10||May 23 — May 25||n = 11,601|
|Week 11||May 30 — Jun 01||n = 10,425|
|Week 12||Jun 06 — Jun 08||n = 11,472|
DISQO is a consumer-first insights platform that delivers unprecedented data and analytics to the market research industry. The company powers insights professionals and marketers with automated solutions that drive consumer research and improve ad effectiveness. Today, DISQO delivers an accurate and complete view of the consumer via technology built on the foundation of the largest first-party research audience. By engaging consumers who choose to share their attitudes and behaviors, DISQO captures the highest quality data, empowering its clients to make confident decisions. Founded in 2015, DISQO is headquartered in Los Angeles, California, and has over 140 employees.