Attitude in consumer behaviour over COVID-19 matters: exploring industry-by-industry
The specialists were first asked about trends in consumer behaviour with the leisure segment. Although people are missing social experiences, “it feels really sketchy and frightening, and a lot of them are insisting, despite the emergence of this vaccine, that they’re going to continue wearing masks and being very careful for a least the coming year.”
Owing to increased strain on homelife, “restaurants are just an increasing part of everyday life” and should bounce back fairly quickly. In addition, as the attitude in consumer behaviour is being influenced by mortality salience, there has also been a noticeable shift towards socialising in smaller venues. “The fact that we also have been conditioned to stay local and interact with our local retailers, restaurants and things like that, that smaller bubble in which we were living makes it even more emotionally and psychologically comfortable for us to be in smaller spaces.”
Current trends in consumer behaviour
With people feeling the need to “blow off steam”, nightclubs are still being visited on occasion. Indeed, one specialist noted underground parties in major cities, which “really speaks to the desire of both the entrepreneurs and the millennials and Gen Zers to be in those spaces and to have that experience despite the danger.”
The Interview also looked more closely at the fortune of casinos. Their physical premises are “cleverly designed in terms of the multisensory interactions on our subconscious brain”, and consequently the experience of gambling at home is vastly different. In addition, as “impulsiveness is also a natural reaction to mortality salience”, casino operators will need to take care of the health and safety of their customers.
To access all the human insights from Third Bridge Forum’s Panel discussion: consumer sentiment – impacted trends & behaviours amid pandemic uncertainty Interview, click here to view the full transcript.
The information used in compiling this document has been obtained by Third Bridge from experts participating in Forum Interviews. Third Bridge does not warrant the accuracy of the information and has not independently verified it. It should not be regarded as a trade recommendation or form the basis of any investment decision.
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