New Data: 6 Factors Showing Your Customers Are Ready To Buy Again
Today, I’m releasing our 11th national consumer study around the coronavirus economy.
Some huge POSITIVE changes are coming to the economy, and while consumer pessimism has stayed pretty consistent since we entered the March 2020 lockdown — I believe we’ll be out of the darkness soon.
As I’ve reported for months now, even though the stock market has been flourishing, around 70% of consumers still feel locked out of this economic growth. They are nervous about their finances, jobs, and the overall economy (thus, they have only been buying goods and services out of “need” only.)
And it makes sense. The pandemic has created a massive gulf between the “haves” and the “have nots.” Even though much pessimism still exists (and is very real), there is also hope — as I see the first sign of evidence that our economic and health catastrophe will subside quickly.
Our partnership with the largest data collection, analytics and AI company in the U.S. has now surveyed over 41,433 Americans since March 2020, modeled to our database of 200 million+ U.S. consumers, 550 million+ connected devices, tracking 10 billion online decisions, and 1 trillion searches (daily).
As with all of our surveys, I am giving you my summary and full data report away for free so you can prosper in these uncertain times.
Barring a massive crash to the stock market, vaccine distribution roadblocks, or more political unrest, consumers believe the comeback will occur in 2021. I will point out the key findings so you can take advantage of this insider exclusive data right now (and if you are looking for insights into how to market your business going forward, this is the most critical data we’ve released to date).
So, here is the big reveal from our latest survey: consumers are betting the bank that the miracle COVID-19 vaccine will not only protect our health, but it will be the catalyst to fix the economy.
That’s right. There is a huge correlation in our data between consumers who believe the economy will come back to normal only when the vaccine has been widely administered.
When do they believe that will happen?
While American consumers have been massively downbeat since last summer, they are now showing signs of hope and optimism — and they believe that by June 2021, the economic comeback will begin.
Here are the 6 key findings from our massive study that shows why this will happen:
1. 81.4% of American consumers expect the vaccine will be available to everyone by June.
2. 68.7% of Americans plan to take the vaccine within the first 6 months of 2021 (currently, 79.7% of American consumers are likely to take the vaccine at some point).
3. 53.4% of consumers believe that the vaccine must be administered to them to feel comfortable doing activities involving crowds (e.g., going to a bank, shopping, attending a concert or sporting event, or dining in at a restaurant).
4. 83.3% of consumers believe the economy returns to normal (like the pre-COVID-19 economy) from June-October 2021.
5. 75.4% of consumers expect their leisure travel activities will largely return to “normal” from June-Fall 2021.
6. 75.7% of consumers expect their business travel activities will largely return to “normal” from June-Fall 2021.
See the correlation?
Ultimately, Americans are betting the vaccine rollout should be done by June 2021, and they believe that with the widely administered shot, the lockdowns will end, it will be safe to go out and shop more freely (in the new post-COVID-19 economy).
It makes sense to me personally, as well, as I’ve avoided air travel for almost a year now. I’m currently (and aggressively) booking personal and business trips throughout 2021 (as an aside, there are some amazing travel savings out there to take advantage of that won’t be around for too much longer).
So here’s my advice if you are a business owner or marketer — this is a huge moment to make moves, invest in the comeback, and be fully prepared to take advantage of the 2nd half economic boom of 2021.
Don’t look back in a year and kick yourself for not doubling down on your business and on your customers (right now). It almost certainly will pay huge dividends by the summer and fall.
Finally, do I see this prediction not working out? Of course, there is risk with everything. I believe three factors will prohibit this comeback from occurring:
1. A major stock market crash imperils the comeback.
2. The new Biden administration lags in the distribution of the vaccine (between late January and June) and despondent Americans will push the economic comeback clock back (this will truly be the first big test of the new president because Americans are desperate for calmness and good news that will end the chaos and pandemic).
3. Political unrest continues well into 2021 — I wrote about the potential for a Civil War a few months ago and after this week, I’m more convinced than ever that it will happen. Whether it occurs this year or in 10 years is unknown at this point.
Remember, nothing in life is guaranteed, but I’m reading the tea leaves from 200+ million Americans right now and they are telling me (and you) that they are ready for the economy to reopen, to work, to spend dollars, and quite frankly, to feel good again — and get back to life as normal — starting this June.
I am giving you FREE access to all of our 11 data surveys (+ our two data reports/surveys analyzing the protest culture on consumers) — just go to winbigmedia.com and click on the “COVID-19 Consumer Research” tab.
When you become a subscriber to my exclusive bi-weekly data insights articles, you will always get first (AND FREE) access before anyone else (i.e. your competition). If you know someone that will benefit from these key insights, forward this article and/or data to them so they can use it in this critical moment.