By Laura Robbie, Managing Director YouGov, Australia  

Laura Robbie, Managing Director of Australia at YouGov

For the past 18 months, consumer activity across the world has been turned on its head by the coronavirus pandemic. Brands and companies have had to adapt and – as we start to slowly move out of the COVID-19 health emergency – will continue to evolve. Since the start of the crisis, we have continuously monitored public opinion and behaviour across a range of topics. Here we look at three areas that brands and companies need to understand as the world finds its balance in the “new normal”. 

Money 

Often, global consumers have responded to the pandemic by reducing their non-essential spend. While the tightening of purse strings in many markets is tied to job losses and imposed lifestyle restrictions, consumers also report a general planned reduction in non-essential spending. 

Apart from Germany and Denmark, our Global Banking and Finance Whitepaper finds that most European consumers anticipate reducing their non-essential expenditure in the future. In APAC markets such as Indonesia, Singapore, China and Hong Kong, at least two thirds of consumers plan to cut back on their spending. 

Beyond more controlled expenditure by households in non-essential areas, our data points to a ‘pandemic mindset’ that is driving changes in attitudes that are impacting sectors globally and in unprecedented ways.  

Transport 

Take transport and mobility for example. The traditional automotive industry has weathered change and disruption more than most in the past 135 years. Now, in pandemic times, in some markets it faces a new challenge – consumers seeking safer personal spaces.   

Safe personal space wasn’t previously a serious consideration metric for transport ownership, but in emerging markets today, this translates to a preference for higher personal vehicle usage and a lower intended use of public transport. This, alongside a perceived ongoing (albeit declining) need for personal transport amongst consumers, may present an opportunity for automotive manufacturers but it presents a challenge for the ride share industry.  

Our research finds that younger demographics are typically more open to considering a range of transport options and believe they are less in need of their own personal vehicles than older consumers. However, in a pandemic and post-pandemic world, the ride share industry may face a challenge in convincing all consumers that they are a safe, clean option. China, being one of the clear leaders in the adoption of car sharing services, will be one to watch. 

Travel 

The impact of the pandemic on our ability to travel for pleasure has dominated hearts and headlines over the past 18 months. The massive disruption caused by the pandemic to players in the travel sector will be felt for years to come.  

According to our research across 25 markets, global appetite for international travel is much lower than for domestic (18% vs 51%). The main barriers to travel were COVID-related. Globally, the leading ones being health risks (48%), followed by safety (37%), and travel restrictions (35%). Price was next (32%). 

In terms of safety, consumers concerns are multi-faceted. They are concerned about going to airports, traveling by air, the cleanliness of accommodation as well as the destination. We can expect consumers to be more drawn to the options they perceive to be safer, those who have been seen to manage the pandemic well and can demonstrate lower rates of infection and mortality.

Since the beginning of this calendar year though, we have also seen a gradual decline in those concerned about the pandemic-associated health risk of travel, which will be encouraging for players in the travel industry.

Brands beyond the pandemic 

As we prepare to move into the post-pandemic era, companies and brands across all sectors face challenges in remaining relevant. Our research shows how consumer mindsets differ by market (both when it comes to pandemic-related factors such as rules and infection rates and also issues beyond health concerns and regulations). It is key that they understand where and how consumer attitudes are evolving and when they have confidence to spend again.  

Sources 

YouGov Global Banking & Finance Whitepaper 2021 

YouGov Automotive Whitepaper 2021 (To be published in end-Sep 2021, here’s the sector page for other relevant sector info)

YouGov Global Travel Campaign Playbook