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Related Expertise: Marketing & Sales, Consumer Products, International Business

Consumer Sentiment Snapshot Key Charts: November

Good news/bad news is the order of the day. On the upside, efforts to develop an effective vaccine against COVID-19—a major milestone in consumers’ assessments of when they will feel comfortable engaging in activities outside their homes—have produced extremely promising results in late-stage testing, suggesting that immunity from the coronavirus is almost within reach. On the downside, the daily new infection rate is climbing rapidly in many countries, and the approach of winter in the Northern Hemisphere is exacerbating conditions for further rapid spread.

The mixed news about the pandemic has produced somewhat muted reactions in our latest consumer sentiment survey. Respondents are worried that the near-term situation may continue to deteriorate, but they are also taking to heart the excellent progress being made on the vaccine front. Winter is coming, but so is spring.

About the Research

BCG’s COVID-19 Consumer Sentiment Snapshot series is based on data drawn from an online survey of consumers that has been conducted regularly since early March 2020 across multiple countries worldwide. Each Snapshot highlights a selection of insights from a comprehensive ongoing study that BCG provides to clients. The survey is produced by the authors, who are members of BCG’s Center for Customer Insight (CCI), in partnership with coding and sampling provider Dynata, the world’s largest first-party data and insights platform. The goal of the research is to provide our clients and businesses around the world with periodic barometer readings of COVID-19-related consumer sentiment and actual and anticipated consumer behavior and spending to inform critical crisis triage activities, as well as rebound planning and decision making. A team composed of BCG consultants and experts from CCI completes the survey analytics.

Legal Context

The situation surrounding COVID-19 is dynamic and rapidly evolving, on a daily basis. This COVID-19 research is not intended to: (i) constitute medical or safety advice, nor be a substitute for the same; nor (ii) be seen as a formal endorsement or recommendation of a particular response. As such you are advised to make your own assessment as to the appropriate course of action to take.

Acknowledgments

We would like to thank our key contributors for this article:

  • Global and US consumer sentiment team: Greg McRoskey, Dan Metzel, Andrea Mendoza, Madeleine Macks, Ariel Hudes, Christian Ueland, Lolly Buenaventura, Thomas Uhler, and Ian Irungu
We appreciate the generous support that the following people have provided in producing COVID-19 research and the associated article series:
  • Practice leadership: Rohan Sajdeh, Jean-Manuel Izaret, Niki Lang, Nimisha Jain, Aparna Bharadwaj, and Stephane Cairole
  • Knowledge team: Kelsey Almaguer, Elena Loridas, Kosmo Karantonis, Daniel Wang, and Deepti Tyagi
We also thank BCG’s Center for Customer Insight (CCI) team globally, Scott Wallace, and Dynata for their support and input into this article.

About BCG’s Center for Customer Insight

The Boston Consulting Group’s Center for Customer Insight (CCI) applies a unique, integrated approach that combines quantitative and qualitative consumer research with a deep understanding of business strategy and competitive dynamics. The center works closely with BCG’s various practices to translate its insights into actionable strategies that lead to tangible economic impact for our clients. In the course of its work, the center has amassed a rich set of proprietary data on consumers from around the world, in both emerging and developed markets. The CCI is sponsored by BCG’s Marketing & Sales and Global Advantage practices. For more information, please visit http://www.bcg.com/expertise/institutes/center-customer-insight.

About Dynata

Dynata is the world’s largest first-party data and insights platform. With a reach that encompasses 62 million consumers and business professionals globally, and an extensive library of individual profile attributes collected through surveys, Dynata is the cornerstone for precise, trustworthy quality data. The company has built innovative data services and solutions around its robust first-party data offering to bring the voice of the customer to the entire marketing continuum—from strategy, innovation, and branding to advertising, measurement, and optimization. Dynata serves nearly 6,000 market research, media and advertising agencies, publishers, consulting and investment firms and corporate customers in North America, South America, Europe, and Asia-Pacific. Learn more at www.dynata.com.

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Consumer Sentiment Snapshot Key Charts: November

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