Strategy Analytics Consumer Insights today released its latest study, COVID-19: Consumer Action, Attitudes, and Changes in Behavior in China, the United Kingdom, the United Kingdom and the United States. Almost every Chinese consumer thinks everything will return to normal in the next 12 months, according to the report.
Consumers in the United States, the United Kingdom and China all have high levels of awareness of COVID-19, but some Gen Z (18-24 years old) are less aware of it. More than half said they had enough information about the virus, but they had different views on when everything would return to normal. Britain and the US are still trying to “smooth the outbreak curve”, with most consumers in both countries believing it will take at least three months for everything to return to normal, and some saying they will never return to their former state. Almost every Chinese consumer surveyed believes that everything will return to normal in the next 12 months, with two-thirds of those expecting a rapid recovery in the next three months.
Other findings of the report include:
· The vast majority of respondents in these countries agree with the severity of COVID-19 and believe that this outbreak will change people’s lives forever
· One in five said they knew about people who were currently infected or had been infected with the virus
· The number of people watching news, using the Internet and streaming video has increased dramatically, especially in China.
“In these three countries, the most popular and preferred source of information is watching TV and reading online news,” said Joy Ganvik, vice president of The Market Insights at Strategy Analytics. National health agencies are a leader in information reliability, and information from social media is the least trustworthy. “
Arleen Macaraeg-Denque, vice president of Market Analytics’ consumer insights team, added, “Social isolation, home isolation and hand washing are top priorities everywhere. China considers masks to be crucial, while the U.S./UK touts hand sanitizer and eliminates facial contact. The outbreak has had the greatest impact on people travelling/taking leave, with two-thirds of Chinese and one-third of British and American people cancelling or delaying travel. In addition, about two-fifths of China’s consumers have shelved some high-spending, including cars, new smartphones or new home appliances, and many have temporarily shelved purchases of new computers, invested in the stock market and upgraded to 5G mobile services. “
Meanwhile, strategy Analytics Wireless Smartphone Strategy team released a report based on a March 21-25 survey of 1,300 Chinese consumers, “China Smartphones: Consumer Buying Intentions After the Covid-19 Outbreak.” While consumers inChinese the U.S. or Europe are more optimistic than consumers in the U.S. or Europe that everything will return to normal quickly, the report says smartphone switching rates and 5G penetration have undoubtedly slowed. Key findings include:
· Thirty-seven percent delayed plans to buy a new smartphone, while 32 percent delayed upgrading 5G.
· There is no doubt that Apple users are the most optimistic, with 41% planning to buy new smartphone devices as planned or earlier.
“As we move into the second quarter of 2020, the supply chain and the complete ecosystem may recover, but it is clear that a significant proportion of consumers are not yet ready to revert to their previous consumption patterns and purchase intentions,” said Zhai, Director of Smartphone Research at Strategy Analytics. Operators, handset makers and retailers will have to redouble their efforts to convince hesitant smartphone users that new phones and new 5G services are worth the cost compared to other priorities. “