Shopping trends: How Covid changed spending
Constrained consumers versus insulated spenders: the pandemic is driving change in the way products will be consumed from now on
New research suggests consumers are redesigning their product choices and many pandemic consumption patterns are now set to become entrenched essential routines.Kelly Arnold, Nielsen Retail Intelligence MD for Sub-Saharan Africa, says: "Since the onset of the Covid-19 pandemic, many consumers have found themselves in a radically adjusted financial position, with 41% of South Africans saying they have been personally impacted by job losses under the lockdown."These massive and sudden shifts in unemployment rates are among the many factors driving the declining spending power of numerous South Africans. The new Nielsen ‘Covid-19 Behavioural Reset Report’ identifies key behavioural changes which make sense of today’s fundamentally altered shopping landscape as they apply to two distinct types of consumers: constrained consumers who are stretched financially due to factors such as job losses and compressed income; and insulated spenders who have managed to retain their job and therefore...
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