Nielson Tracks How the Coronavirus is Changing Consumer Behaviors
I read an article on the nielson.com website that was very intriguing relative to how the coronavirus outbreak is affecting and changes people's lifestyles as well as their Consumer behaviors.
Nielson specializes in identifying consumer buying trends and they've been investigating consumer trends relative to the changes to lifestyle the coronavirus has caused, which will likely have a lasting effect to the extent life as we knew it will change. That change will be immediately seen regarding personal health and how people react to anyone even having a common cold, moving forward beyond the coronavirus pandemic.
This gets a bit complicated but to some interesting enough to read through all of the data. Here's a link below if you so choose to get deep into an in-depth explanation as to how Nielson measures and predicts consumer spending.
This blog will just focus on the effects the different aspects of the coronavirus (identified by Nielson as "thresholds") have on consumer spending and how those trends actually allow Nielson to predict what people will do moving forward as the outbreak strengthens as well as when it weakens.
Here are some examples of how Nielson uses information and relates that info to consumer trends:
- Initially, when there were reports of people returning to the U.S. from other countries who already had many infected people, Nielson noted a rise in the purchase of products aimed at overall health and wellness.
- ...then when people who had not had any contact with anyone from another Country were testing positive and reports of the 1st coronavirus death were being announced, Nielson identified that people began purchasing more and more face-masks.
The link below shows you 4 additional thresholds that have caused consumer behavior changes. Nielson identifies what those coronavirus events are and shows us how those events caused consumers to react in a certain way behaviorally regarding consumer spending trends.