Coronavirus Research – Series 6: Consumer Spending
Key prediction/observation: This GWI report shows that financial health of a consumer drives the rate of spending, meaning that while higher-income consumers have increased their spending on groceries to ensure they have contingency, lower-income earners have tightened the belt and stopped spending on anything not completely necessary. They have also noted trends such as ‘bigger baskets, fewer visits’ and ‘reliable forms of self-care’ as consumers continue to seek out convenience.
- Author: GWI
- Published: 6th April 2020