The coronavirus crisis has now emerged as a once-a-century transformation in the global economy, with radical impacts on trade-flows, consumer behavior, and spending across every industry. Collage Group members are now in the throes of intensive investigation into consumer response across every category.
Cultural backgrounds significantly influence the neuroloigical “defaults” in human behavior, especially when it comes to health. Consider the progress of COVID-19 in South Korea vs Italy, both democracies in which multigenerational households are common. The differences could not be starker. Indeed, the difference in outcomes could not explained without recourse to an understanding of differences in culture.
Multicultural consumers will continue to drive the majority of spending growth through this crisis. Indeed, the multicultural contribution to growth has historically increased when the economy shrinks. Indeed, all our projections indicate the contribution can only increase in the future. As you can see from the chart below extracted from our Big Shift research, multicultural response is even more important at this time than in periods of economic strength.
Our main survey goes deep into culture factors that are critical to differences in consumer behavior. We incorporate cultural attitudes that impact health and response to risks to health, such as social proximity conventions, multigenerational contact, fatalism, compliance with authority and other factors. The difference between the Italian and Korean situation cited above is probably due to these factors in no small part
We will look at a variety of questions including:
2. Tracking Survey
Our tracker goes beyond top-line reporting. We will look at levels of concern in multiple areas (financial, health, etc) as well as with government and media response. We will also track behavior adoption change which can be used by brands to encourage consumers to “do the right thing” and which may be predictive
We will updating our Annual Population and Expenditure analysis. We will look at a variety of questions including:
Questions we are currently address on behalf of members include:
We’d love to hear from you! Talk to us about the benefits of Collage Group’s methodologies.
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