In recent years, consumer businesses never faced a challenge as big as Covid-19. The outbreak of this virus has accelerated the major trends that are transforming the way people live, work and shop. And retailers have been forced to get creative in their efforts to make their businesses resilient and grab any opportunities that arise from this unprecedented situation.
Our PwC team has collected valuable insights into the pandemic’s impact on consumer behaviour, and we’ve published them in our European edition of PwC’s Global Consumer Insights Survey 2020 together with our expert analysis of the most effective strategies for navigating the ‘new normal’ successfully. We gathered these insights by surveying almost 10,000 consumers across seven European countries – before and after the outbreak of the virus.
You can find data and recommendations for key topics including:
- Around 40% of European consumers have seen their household income drop: How are they adapting their spending patterns?
- Lockdown has boosted online retail, which saw double-digit growth Q2 2020: Which products and services have generated increased demand?
- The Covid-19 outbreak has caused many consumers to reevaluate their lifestyle priorities: Which decision-making factors are gaining importance?
- And 49% of European consumer have made fewer visits to stores during the pandemic: How can retailers transform the customer experience to attract consumers back into their shops?
Our in-depth study gives you answers to these questions – and many more. As retailers seek solutions that can help them to adapt to this once-in-a-lifetime challenge, we are delighted to share this important piece of research. The report and further information are available here: www.pwc.de/New-Normal-Shopping