Location-powered advertising company, Blis, has launched an interactive dashboard as part of its Consumer Confidence Pulse to analyse data trends around consumer mood and COVID anxiety. The dashboard also now tracks consumer movement over a rolling 13-month period, across 18 retail and lifestyle sectors including airports, gyms, malls, restaurants and grocery stores.
The Pulse runs in the UK, USA, Netherlands, Italy, Singapore and Australia and will launch in India, New Zealand and the Philippines in the coming months. Each month it tracks responses to four questions around the economy, household financials, spend intent and COVID-19 anxiety. Coupled with consumer movement analysis, the dashboard enables brands to better understand trendlines by industry sectors.
Key takeaways from the latest analysis include:
- Consumer concern around COVID-19 is receding, but the majority remain cautious.
- Economic confidence is returning, fuelled by active consumers.
- Household financial confidence – relatively robust, even throughout the worst of the crisis, thanks in part to government income support schemes – is having a wobble as uncertainty surfaces.
- When initial lockdowns were relaxed, consumers gradually resumed previous activities, but with each subsequent lifting of restrictions, the speed of return has increased.
- Fiscal responsibility was evident as people weathered the storm by saving more, and paying off debt as priorities.
In the UK, Blis’ data suggests that confidence in the economy has seen a boost with a leap to net -1% from last month’s lower value of -12%, which is the single biggest month-on-month increase in the last year. Consumers’ outlook on household finances is lower than seen in March 2021 but remains in positive territory having recovered a little of the ground lost last month to settle at net +4% for July 2021.
As consumer confidence increases, consumers are opting for “savings” as the top choice for allocating spare cash. However, debt repayment – which was a key theme throughout 2020 – has not seen a comparable rise, potentially a reflection of consumers saving up for holiday spending or travel instead of financial caution.
Charlie Smith, Managing Director, Europe, Blis