Nielsen has released the results of a second study tracking U.S. consumer sentiment on COVID-19 recovery and purchase intentions.
And according to the latest Westwood One blog posting, this new study was based on 1025 nationally representative interviews with persons 18+, conducted May 27-29, and compared to the same study fielded with 1000 people on April 30-May 2.
While only a month separates the two studies, the shift in American attitudes on reopening of the economy and a return to normalcy is remarkable.
➤“Ready to go” consumer segment surges from 34% to 54%
In early May, 34% comprised the segment expressing the greatest optimism on a return to normalcy. The “ready to go” segment grew twenty points to 54%. The most pessimistic segment, “wait and see” consumers, dropped from 29% to 11%.
Consumers indicated varying levels of agreement or disagreement for reopening statements. The degree of agreement with these statements determined which of the three optimism segments consumers were assigned to.
There are massive gains in the number of Americans who say stores are reopening, normal activities are beginning to resume, and their area is starting to emerge out of the crisis. The average agreement with the recovery statements is up 18 points, a +44% increase.
Growth in recovery sentiment translates into economic recovery: “Ready to go” means “ready to spend”
On average, the “ready to go” segment is +23% more likely to make purchases within a month across a broad range of purchase categories.
The “ready to go” consumers are +33% more likely to be heavy AM/FM radio listeners compared the most pessimistic “wait and see” consumer segment. No wonder that Nielsen declares AM/FM radio to be “the soundtrack of American recovery and reemergence.”
AM/FM radio listeners are spending more time on the road, increasing listening levels
➤American AM/FM radio retains 94% of pre-COVID-19 audience
Combining the just-released April diary data with recent May PPM audiences to form a national perspective, American AM/FM radio has retained 94% of pre-COVID-19 reach levels and 86% of pre-COVID-19 average quarter-hour audiences.
Key findings:
- “Ready to go” optimists perceive less risk, feel safer, and indicate their cities are emerging from the COVID-19 crisis
- “Ready to go” optimists and heavy AM/FM radio listeners are opening up the economy, with strong lifts in spending on both essentials and non-essentials
- Home improvement, home services, professional services, and auto dealers will be the beneficiaries of strong spending from AM/FM radio listeners far greater than from TV viewers
- Driving has increased overall which in turn has caused AM/FM radio listening to recover and grow
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