Over the past couple months, our homes have become a place of education, entertainment, and work. As we spend more time indoors, finding alternative activities to keep ourselves busy and healthy, how are confidence levels and spending habits changing? How do today’s concerns weigh against optimism for the future?
To answer these questions, we have been conducting ongoing surveys, and over 10,000 of you have responded each week! The surveys on consumer confidence have asked you about the following topics:
- Changes in online shopping habits
- Engagement in everyday activities
- Outlook for future engagement in activities
- Concerns that may impact confidence
- Overall shifts in spending
What We’ve Learned
Online purchases have been steadily increasing since our first iteration of the survey in March. On average, 44% of all purchases are now being made online. While 23% of you report purchasing your groceries online, in-store grocery shopping still seems to be more popular (64%).
As you spend more time at home, we also notice less desire to make home-cooked meals. When it’s time to eat, 48% of you opt for takeout while another 22% order delivery.
Home and garden purchases have increased by 55% as more of you start tackling those home projects you never had time for. Interest in apparel and beauty products have also seen an increase, while home entertainment purchases have remained stable at 12% over the last six weeks.
Although only 1% report dining out, a larger portion of you (6%) are optimistic that you will be able to dine out in the next two weeks. The same trend goes for auto purchases as well.
When it comes to concerns surrounding COVID-19, an overwhelming 90% of you express some degree of worry about contracting the disease. Concerns for spreading COVID-19 are slightly less, at 85%.
A majority of people are doing their part to flatten the curve by staying at home. In fact, 74% of you report staying at home more now in comparison to last month, while 24% are spending the same amount of time at home as they did in March. With this, also comes less spending (46%) which translates to more saving!
As we continue to gauge trends and changes over time, be sure to check back for updates and the next edition of the study.
Resources on COVID-19
If you have questions about COVID-19 and what it means for your local community, please check out official resources provided by the CDC, WHO, and your local municipality.