Our Thoughts

Your Customers’ Spending Habits are Changing

21st October 2020

Your customers are changing. This isn’t surprising since only people alive in World War II have lived through more difficult times than this. But if you’re in Marketing or Customer Service you need to understand how they’re changing.

Using finding from our latest survey on the TLF Panel (survey live 10-11th October 2020), TLF Research Chairman and Founder, Nigel Hill, has created the report 'Your Customers' Spending Habits Are Changing'. The report provides an overview of the latest trends on how customer attitudes and behaviour have changed during the pandemic.

Download your free PDF copy of the report now and Below is a summary of the key findings:

 

 

42% of people now have worries about finances

  • The majority of those have worries about affording the basics – rent, utilities, food
  • Some are worried they won’t have money for non-essentials like holidays, home improvements or saving

 

Customers are spending less.

  • The main things they are spending less on are:

 

Even customers who have no money worries (58%) are spending less.

When you ask what they’re doing with their disposable income the main answer is saving more. Where more money is being spent it is mainly on:

  • Home improvements
  • Food to eat at home
  • Home entertainment

 

Customers’ behaviours are driven by their attitudes and beliefs.

 

What about the future?

  • Consumers’ confidence in current financial conditions bounced back strongly over the summer, whilst their expectations for the future have stayed depressed into October.

 

 

If you would like further information about this report please complete our short online form to get in touch.

01484 517575
Taylor Hill Mill, Huddersfield HD4 6JA
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