Preparing for the Long Haul

Companies need to adapt for the current environment and plan for the future.

  • People expect this current COVID-19 lifestyle to last for a while (56% said 3-12+ months). (Magid)
  • Consumer shopping has shifted during COVID-19 with the majority of shoppers buying necessities only such as groceries, cleaning and sanitation supplies, and healthcare supplies, with 36% shoppers doing so online. (HarrisX)
Emotional and Financial Concerns
  • 77% state they are concerned and over 50% are very concerned about coronavirus and report feeling anxious and uneasy. (Magid)
  • There are strong concerns related to paying bills, specifically among urban residents, Millennials, and those with children. (HarrisX)
  • Consumer debt outstanding has increased in many areas, supporting the possibility of near-term recession. (Equifax)
  • 72% of people have at least one self-care item in their top 3 priorities for the week. (Magid)
Adjusting to new life at home
  • Market share is up for grabs as more people are actively trying new brands: entertainment, news, and grocery items.  Increased sampling is driven by younger families, creating future brand loyalists. (Magid)
  • People trust private enterprises – carriers, MSOs and hospitals – to lead more than the government. Media companies must embrace this chance to lead. (HarrisX)
  • Due to cable’s willingness to help subscribers and lower income families during COVID-19, about four in ten Americans in the respective footprints of Comcast, Charter and Cox have a positive perception of how the internet companies are supporting the local community. (Horowitz)
  • Six in ten Americans (59%) have a positive perception on how their local/state governments have handled the crisis to date, compared to 44% for the federal government, as well as more positive perceptions on their state/local government’s preparedness. (Horowitz)

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