Global Impact on Consumer Spending in FMCG - Coronavirus (COVID-19) Consumer Survey Insights - Weeks 1-5

Global Impact on Consumer Spending in FMCG - Coronavirus (COVID-19) Consumer Survey Insights - Weeks 1-5

Summary

"Global Impact on Consumer Spending in FMCG - Coronavirus (COVID-19) Consumer Survey Insights - Weeks 1-5" analyzes the results of consumer spending in week 5 of GlobalData's COVID-19 survey. Nationwide lockdowns have led to drastic changes in consumer habits, forcing people to prioritize their spending; often on tighter budgets. Examples of falls in discretionary spending include prepared meals, as cooking at-home increases in popularity. This report looks at how consumer spending has changed over the past weeks, and provides valuable insight into how this behavior may become entrenched in the future.

This report is the week 5 update for consumer spending according to the GlobalData COVID-19 survey. It identifies a range of interesting insights into how behavior has changed since the beginning of the pandemic. Restrictions on movement have encouraged consumers to cut spending on beauty and grooming products. Discretionary spending is down as a result of consumers prioritizing essential goods. This report looks at the changes in consumer behavior and their possible long-term effects.

Scope

- Discretionary spending has fallen as consumers prioritize essential items. An example is the fall in the appeal of prepared meals as consumers increasingly cook at home.
- Over a quarter of consumers that buy significantly more than before the pandemic, are spending on premium bakery and cereal goods. This suggests that snacking has become a new key consumption occasion.
- Demand is highest for lower to mid-priced products, but younger consumers present opportunities for premium positioning.

Reasons to Buy

- Identify how spending patterns differ across countries and regions.
- Learn how spending differs according to gender and age group.
- Identify how consumer spending preferences differ across categories.