Bite-Sized Insights: Post Covid Spending Plans
Each week we ask our trusted Insights panel of parents a key question. This week we were interested in finding out what they plan to spend on after COVID. It turns out the number one thing they plan to spend on is socialising with family and friends with holidays abroad and home taking second and third place. Take a quick read of this week’s bite-sized insights to find out what else parents told us:
Would you like business-transforming insights for your brand? Use our tailored panels of engaged parents and our dedicated private platform to gather critical insights to help your decision making and activate customers. Contact us now to find how we can help.
Recommended reading: What Parents Told Us About Home Retail
We asked our Insights panel of parents to answer these quick questions:
What are you most looking forward to spending on post COVID?
- Socialising with friends & family 68%
- Staycation 42%
- Holiday abroad 36%
- Home improvements 32%
- Clothing, make-up (general retail therapy) 26%
- Furniture & homewares 22%
- Other (please answer below) 6%
- New/used car 4%
- No plans to spend 2%
Any other thoughts on spending or saving this year?
Comments from our panel members included:
“Will be more conscious of my budget when clothes and footwear shopping.”
“Lots of day trips / garden parties and nights out to be made up for.”
“A new sofa is the only big spend we plan to do, although a staycation would be lovely.”
“Definitely have saved more this year, just not spending so much going out, no days out, no activities.”
“More conscious of spending now so hope to continue saving more and buying what we really need not just what we want.”
Reflections for Businesses and Brands
- Parents are telling us that they will be more reflective about spending in general, which will impact retail so thinking creatively about bundling options, multi buy discounts and where else you can add value to your service are going to matter for enticing them back.
- Socialising with family and friends is the top planned spend, this will be welcome news to the hospitality sector but also many parents will be tentative about heading out so home-based socialising is also likely to be popular. Ideas for celebrations and parties are going to be welcome reads.
- Holidays are up high on parents’ wish-lists so creating or sharing content on your social media to help them plan their holiday in Ireland is a good way to build trust. Retailers can be putting ideas for holiday outfits (and rain gear!) together to help busy parents pick out new items for the whole family easily in one online shop.
Would you like business-transforming insights from parents for your business? Use our tailored panels of engaged parents and our dedicated private platform to gather critical insights to help influence consumers to deliver long term profitability. Contact us now to find how we can help.
