Coresight Research’s latest survey of US consumers on the coronavirus outbreak was undertaken on April 1. In this report, we discuss the latest findings and compare them to those from prior weeks:
March 25 and
March 17–18.
Most US Consumers Are Now Very Worried
A total of 89% of respondents are now either somewhat or extremely concerned about the coronavirus, up from 85% a week earlier. Over half of respondents are now extremely concerned about the pandemic, up 6.9 percentage points over the prior week.
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Base: US Internet users aged 18+, surveyed on April 1
Source: Coresight Research [/caption]
More Shoppers Cutting Discretionary Spending
This week, we saw the proportion of those saying they were buying less of certain categories exceed the proportion buying more of certain categories for the first time. We saw a sustained week-over-week increase in the proportion saying they buy less of certain categories, with half of respondents now saying they are cutting back in some areas.
Discretionary spending is facing a major retrenchment and apparel is bearing the brunt of this:
- Clothing and footwear sees the greatest number of shoppers cutting back. The number of shoppers cutting apparel spending has increased week over week. Read the full report for a breakdown by category.
- At the same time, the coronavirus crisis is driving an increasing proportion of respondents to make more purchases online. A substantial proportion of those buying more online are buying more apparel through e-commerce—but the number of shoppers switching apparel spend to e-commerce is not enough to recoup the sales lost through mass store closures.
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Buying more of certain categories and buying less of certain categories were not mutually exclusive options and respondents could answer yes to both
Base: US Internet users aged 18+
Source: Coresight Research [/caption]
Concerns About Jobs and Income
We asked respondents to choose from a selection of statements related to employment and income.
- Around one in 10 said they had already lost their jobs because of the coronavirus outbreak, versus 9.1% last week.
- This week, a total of around 41% were worried about losing their job or part of their income, down from around 46% last week.
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Base: US Internet users aged 18+, surveyed on April 1
Source: Coresight Research [/caption]