Presents Series – Volume 3 – The change in consumer behaviour

Life is beginning to grind back into gear, but it’s a different gear to the one in which we entered the start of the COVID-19 pandemic. Wearing face coverings on public transport and in shops, for example, will be part of life for quite some time and working from home will be a new reality for many.

According to research by YouGov, 60% of business leaders say there will be an increase in working from home compared to before the lockdown, with 93% of business leaders in media, marketing, advertising and sales anticipating this to be the case. This is likely to have numerous different knock-on effects, not just on the amount of office space that will be required but also the way that people spend their money on a daily basis. Could we see the cash that might ordinarily be spent on a daily commute coffee and sandwiches being used in other ways – perhaps more locally, on other lifestyle pursuits, or even saved?

Life is beginning to grind back into gear, but it’s a different gear to the one in which we entered the start of the COVID-19 pandemic. Wearing face coverings on public transport and in shops, for example, will be part of life for quite some time and working from home will be a new reality for many.

According to research by YouGov, 60% of business leaders say there will be an increase in working from home compared to before the lockdown, with 93% of business leaders in media, marketing, advertising and sales anticipating this to be the case. This is likely to have numerous different knock-on effects, not just on the amount of office space that will be required but also the way that people spend their money on a daily basis. Could we see the cash that might ordinarily be spent on a daily commute coffee and sandwiches being used in other ways – perhaps more locally, on other lifestyle pursuits, or even saved?

 

Read the full article here.

Credit: Pepper Money

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