Category Spend Patterns During COVID-19

These times are uncertain, but you don’t have to be. Act on these category-specific insights to resonate with multicultural consumers during this period of change. The document available for download provides an excerpt focused on Hispanic consumers. Fill out the form to download detailed insight into the top issues prime for brand activation in the near and midterm for all consumers by race and ethnicity.
 

Our latest COVID-19 initiative takes an expansive look at consumer preferences and shopping behaviors during our time of crisis. The analysis uncovers how attitudes and spending patterns are shifting among the major racial and ethnic segments at a general and category-specific level. These insights will help you understand how to connect with consumers right now and in the near future.

You’ll find category-specific decks ready for download on this page, covering alcohol, mobile and electronics, entertainment and media, financial services, food and beverage, home care, and personal care. But before diving in, take note of these key insights…

Four High-Level Findings to Help You Navigate Marketing during the Pandemic:

1. The majority of consumers in each segment are being more mindful of their spending habits, especially Hispanic consumers. This means that the bar is raised for which brands and products make the cut. You’ll need to pay close attention to how behaviors and preferences are changing right now to stay relevant across segments.

How Multicultural consumers will spend their money

2. 4 in 5 Americans expect brands to take positive action in response to the pandemic. This is not the time for your marketing efforts to go dark. Stay relevant by taking action and speaking out in ways consumers find valuable, like educating the public about social distancing, a strong want from multicultural consumers, especially Hispanics.

What Multicultural consumers want brands to do during the pandemic
80% of Americans believe they must step up during COVID-19

3. Changes in specific shopping behaviors are more pronounced for multicultural consumers. Hispanic and Black consumers have increased their shopping at both big box stores and drugstores. Take a look in our category-specific decks for a deep dive on changes in buying patterns within each industry.

Where Multicultural consumers are planning on spending more on

4. Where consumers are making trade-offs is also noteworthy. Black consumers are notably less likely to cut spending on makeup and cosmetics.  Hispanics by contrast will defend spending in groceries, personal care and home care, but expect to cut spending in that category as well as toys and games, electronics and at home entertainment.

What Multicultural consumers plan on spending less on
Though these times are uncertain, you can survive and thrive with these insights on how to connect with consumers right now and beyond the pandemic.

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