The Customer Impact of Covid-19
Building on our award-winning customer expertise, ‘The customer impact of Covid-19’ gives decision makers the data and insights needed to navigate the new customer reality.Download Summary
A lot of what we previously took for granted is being disrupted by Covid-19.
Which means we can’t assume that what we used to know about customers still holds true.
It’s not that Covid changes everything.
It’s that it changes things enough that you can’t base your plans for the future on what life was like just a few short months ago.
Which is where Quadrangle can help.
Using our award-winning customer expertise, we are tracking ‘The customer impact of Covid-19’, giving us a deep understanding of the implications of all this for brands.
And putting us in a unique position to help decision makers ensure what you do next starts from the new customer reality.
Here are some of our summary findings:
About the Study
A quantified understanding of the economic impact of Covid-19 on customers, and how this is likely to play out over time, via a nationally-representative 5,000 sample survey.
A Study to help decision makers navigate the crisis and plan future strategy
Covid-19 has caused the largest simultaneous, near-overnight fracture in people’s lives ever seen.
Quadrangle has been researching this on a weekly basis since March. Already, it is clear that – beyond the immediate social and behavioural changes it has brought about – the pandemic is:
- Having a highly uneven economic impact across different parts of the UK, socio-economic groups and life-stages
- Causing a re-assessment of long-established spending and saving habits
- Catalysing a re-set of people’s views of what matters in their lives
These things have profound, long-term implications for brands, as the consequences of this customer sea-change play out, re-shaping demand, expectations and norms.
A significant gap in knowledge
Despite a growing body of market research around Covid-19, there is little hard data on its economic impact on the demand side, and how the pandemic is changing what customers think, feel and do.
This is a significant gap in knowledge:
- To a large degree, the severity of the recession due to Covid-19 will depend on people’s sense of economic security, and customers’ propensity to spend
- The ability of decision makers to plan for an uncertain future will be compromised without a robust understanding of the new customer reality
The Customer Impact of Covid-19 addresses both gaps by providing accurate, up-to-date data and insight to help organisations navigate this new customer reality.
The Study is designed to be used by decision makers in strategy, brand, marketing, customer, and data/insight roles across all sectors.
It captures a broad range of profiling and other demographic data, so data can be linked to existing customer segmentations or databases including Experian, CACI or FRESCO.
As well as commercial decision makers, the Study is likely to be of interest to Government and public sector bodies, as well as strategy consultancies, marketing agencies, think tanks, and charities.
The Study uses a nationally-representative panel survey of 5,000 adults through Dynata.
The large sample size will ensure robust sub-sets for sector and, in some cases, brand-level analysis. It will also allow us to look in detail at specific groups, e.g. we will have c.700 BAME respondents.
The Study looks at the impact of the pandemic on:
- UK population: employment, income and behavioural confidence KPIs
- Customers: spending and saving, ‘what matters’, sector and brand perspectives, and a forward-looking view of confidence and change
- Most to least impacted cohorts: economic impact, customer impact, profile data and sector and brand perspectives.