Independent Operators

Consumers optimistically cautious about post-pandemic lifestyles

June 10, 2021

A majority of consumers believe life will get better and return to some kind of normal in the coming year, but most are expecting the changes resulting from COVID-19 to remain and have adapted their behaviors and lifestyles, according to findings in the 2021 Consumer Optimism Outlook Study.

Released by Vericast, a marketing solutions company, the report polled over 1,000 U.S. adults about their current circumstances and behavior as well as their outlook, according to a press release.

"Consumers want to be optimistic, but at the same time, there's reticence," Sarah O'Grady, Vericast VP of brand marketing, said in the release. "To successfully engage with consumers in their current state of mind, brands should offer them familiarity, authenticity and meaningful savings due to the economic disruption caused by the pandemic. Digital will continue to grow in importance, but so will the value of personal connections. Marketers can win with messaging rooted in humanity, via channels that cut through the noise in the moments that matter."

Of course, there is nuance to this generally positive outlook, with consumers divided along generational lines. Baby boomers represented the smallest share of respondents who were optimistic that life will return to normal this year (39%), while 55% of millennials and 59% of millennial parents felt that it would.

The study also revealed shifts in brand loyalty, confirming that consumers increasingly want to feel a sense of consistency and trust with the brands they choose to purchase from. The share of consumers that said they were more likely to purchase from a brand or store they trusted has increased from 71% in 2019 to 76% in 2021. Corporate social responsibility efforts and sustainability mattered with 54% of respondents saying they were more likely to be loyal to a brand that had sustainable and ethical business practices.

Additional takeaways from the study include:

• Economic disruption is affecting consumer outlook and spending. Nearly half of consumers said their income was negatively impacted by COVID in 2020 and the vast majority of those expected the impact to continue in 2021.
• There was an increase from 23% in 2020 to 31% in 2021 in the number of consumers who considered themselves price-conscious while shopping for consumer packaged goods and groceries.,
• 72% increased their saving behaviors during COVID and almost all of them plan to continue the habit.
• Almost two-thirds said they were content with staying home more and 61% were watching more streaming videos and TV shows.
• 65% said it was important to support local restaurants.
• Marketers should focus efforts on engaging with consumers in home through channels like direct mail, Connected TV (CTV) and online, with offers that are nearby and local.