People feel mixed emotions about the relaxation of lockdown, with both optimism and concerns regarding financial implications dominating feelings.
There is an increased desire to spend across a range of categories, particularly on holidays and social activities but safety concerns remain. We’ve all seen the queues outside DIY, fast food and retail stores as they reopened for the first time.
Figures from Revolut show the average spend per customer in pubs on Monday 29th June was up 52% versus Monday February 3rd. Fewer people went out, but they were each spending considerably more than before. Unsurprisingly expenditure in hairdressers and spas rocketed too, but the rise in restaurants was more muted.
As this pent-up desire wanes, what can we learn about people’s purchasing intentions for the future?
Research commissioned by Radiocentre UK looked to explore these spending intentions in the short and long term and the top categories were:
With consumer spend up for grabs radio has a key role to play in influencing these purchase decisions. This is particularly true amongst the new work from home (WFH) group who index higher in the three key metrics below.
If you would like a more in depth analysis of these points or we can help with your advertising needs please contact us on hello@urbanmedia.ie.
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Source: Revolut, Radiocentre
