The COVID-19 pandemic has had a global impact on commerce however, its outcomes are highly diverse on a market-by-market basis. Not only that but also the economic confidence saw a massive drop in Q2 2020.
Moreover, lockdowns all around the world encouraged people to expand their media consumption. It’s boomers specifically who have obtained new preferences for the long term.
Without further ado, let’s go through the commerce and shopping habits report in 2020.
Back in 2019, 19% of internet users expected the economy in their country to get worse in the next 6 months; by Q2 2020 this figure stood at 36% but it’s a sentiment that’s felt differently around the world.
Not only that but also, by mid-August 2020, nearly 10 million employees have been placed on furlough in the UK and while the data in the U.S. is more difficult to analyze, it’s estimated that 1 in 5 workers there are collecting unemployment benefits.
Furthermore, the commerce and shopping habits report suggests that brands must be aware that markets around the world are feeling the financial implications of the COVID-19 pandemic to different extents.
Take a look at the chart below that shows the economic confidence which falls across the globe;
The pandemic didn’t affect consumer spending only, but it also had an impact on how they purchase too.
Based on the commerce and shopping habits report, 52% of high-income earners plan to shop online more frequently after the pandemic is over, compared to 44% of lower earners. Moreover, In late April, across 15 countries* surveyed, 43% of consumers said they planned to shop online more frequently once the pandemic was over – by July this had risen to 49%.
The chart below shows the plans to shop online more post-COVID-19 continue to grow;
Make sure to check the full commerce and shopping habits report in 2020 here.
All figures in this report are drawn from GlobalWebIndex’s online research among internet users aged 16-64. We only interview respondents aged 16-64 and our figures are representative of the online populations of each market, not its total population. Note that in many markets in Latin America, the Middle-East and Africa, and the Asia-Pacific region, low internet penetration rates can mean online populations are more young, urban, affluent, and educated than the total population