What’s Next for Retailers: Keep An Eye on Exuberance

Pent-up demand will likely cause many consumers to spend more but returning to pre-COVID shopping behaviors will not happen overnight.

The author(s)

  • Wendy Wallner Senior Vice President, Client Officer
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As we transition to a post-vaccine world, Ipsos has been closely monitoring shifts in consumer habits and expectations to be able to anticipate what the future holds to help retailers and retail partners have confidence in choosing the right big bets.

Ipsos data indicate consumers miss shopping in physical stores and they greatly miss dining at restaurants. Besides being separated from family and friends, restaurants are what they miss most. Grocery retailers will need to adopt different strategies to hold onto gains made during COVID.

Further, Ipsos Behavioral Scientists see an “irrational exuberance” starting to emerge. Shoppers through the pandemic have done something rarely seen—they created new reward systems for them­selves. A task like making sourdough bread provided feelings of accomplish­ment; a completed shopping outing during a time of uncertainty felt like a success. As we work through the pandemic, companies will see this explode into spending on indulgences and experi­ences.

That said, some consumers will still hold back. Mobility (a return to the office) will increase but not to 2019 levels. That means Americans will continue to cook at home and shop online.

Our latest paper explores topics to assist retailers with their plans for 2021 and beyond. We share detailed data and tips about the shopping habits that are important to retailers:

  • How close is the new normal?
  • What changes are likely to occur?
  • What COVID behaviors will stick?

Want more insights? Revisit our virtual summit recording here.

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The author(s)

  • Wendy Wallner Senior Vice President, Client Officer

Consumer & Shopper