{"id":4101,"date":"2020-06-08T17:39:07","date_gmt":"2020-06-08T17:39:07","guid":{"rendered":"http:\/\/maadhouze.com\/?p=4101"},"modified":"2020-06-08T17:39:07","modified_gmt":"2020-06-08T17:39:07","slug":"gfk-covid-19-consumer-pulse-report-reveals-new-buying-patterns","status":"publish","type":"post","link":"https:\/\/theblogonline.com\/?p=4101","title":{"rendered":"GfK Covid-19 Consumer Pulse Report Reveals New Buying Patterns"},"content":{"rendered":"
Consumers around the world are facing unprecedented challenges as the COVID-19 crisis continues to disrupt their employment, travel and lifestyles. In Egypt, t<\/span><\/span>he COVID-19 crisis <\/span><\/span>started mid-February in Egypt, <\/span><\/span>escalated in March<\/span><\/span>, <\/span><\/span>leading to <\/span><\/span>suspension of <\/span><\/span>prayer<\/span><\/span>s<\/span><\/span> at mosques <\/span><\/span>on March 21, and then to a curfew in April, eased for Ramadan<\/span><\/span>.<\/span><\/span><\/div>\n
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GfK conducted the Consumer Pulse study for a deeper understanding of current and future consumer behaviours, lifestyles, and moods across 30 markets globally, including <\/span><\/span>Egypt<\/span><\/span>. Polling between 500 to 1000 consumers from each market, bi-weekly, the findings of the GfK study cover areas such as spending habits, media and product consumption and travel and mobility trends.<\/span><\/span><\/p>\n

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\u201cThe anxiety and uncertainty <\/span><\/span>resulting from the pandemic<\/span><\/span>have brought about significant adjustment to <\/span><\/span>consumers\u2019 <\/span><\/span>habits and future plans<\/span><\/span>,\u201d said <\/span><\/span>Rahul Dixit, Head of Digital Research, Middle East, North Africa and Pakistan (MENAP), GfK<\/span><\/span>.<\/span><\/span> \u201c<\/span><\/span>Insights from GfK\u2019s study helps<\/span><\/span> identify signs of disruption <\/span><\/span>for<\/span><\/span> brands <\/span><\/span>and businesses <\/span><\/span>so that opportunities and risks are seen early and managed effectively<\/span><\/span>.<\/span><\/span>\u201d <\/span><\/span><\/p>\n

Change in outlook and spending habits are highlighted in GfK\u2019s initial reports<\/span><\/span><\/p>\n

Consumers in <\/span><\/span>Egypt<\/span><\/span> are concerned about<\/span><\/span><\/a> COVID-19<\/span><\/span> (89%)<\/span><\/span>, the economy<\/span><\/span> (83%) <\/span><\/span>and employment<\/span><\/span> (81%)<\/span><\/span> but are optimistic. The survey data collected during week of April 20<\/span><\/span>and May 4<\/span><\/span>, indicates that <\/span><\/span>37<\/span><\/span> percent of polled households anticipate an improvement in the <\/span><\/span>country<\/span><\/span>\u2019s economy and <\/span><\/span>50 percent <\/span><\/span>in their own finances over the next 12 months. Polls signify confidence in the National Health authorities as well as WHO. <\/span><\/span><\/p>\n

Data highlights opportunities and threats to brands in the current situation as 2<\/span><\/span>3<\/span><\/span> percent of <\/span><\/span>consumers<\/span><\/span> encountered out-of-stock products and 2<\/span><\/span>6<\/span><\/span> percent confirmed trial of new brands. <\/span><\/span><\/a><\/p>\n

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\nConsumer spend in Technical Consumer Goods <\/span><\/span>reported<\/span><\/span>growth<\/span><\/span><\/a><\/p>\n

New practices such as home schooling and working from home helped cushion the impact of COVID-19 pandemic on the IT sector. According to GfK Point of Sales tracking, a marginal one percent growth in sales value of Egypt\u2019s IT sector was recorded in March 2020, as compared to March 2019.<\/span><\/span><\/p>\n

More time spent at home led to an impressive nine percent volume growth in the Consumer Electronics sector in March, driven largely by PTV. Another growth sector during the same period was smartphone, which generated seven percent more sales.<\/span><\/span><\/p>\n

GfK\u2019s research indicates an optimistic albeit changed outlook for Travel & Tourism<\/span><\/span><\/p>\n

Forced confinement has whetted the appetite for travel. <\/span><\/span>Over s<\/span><\/span>ix<\/span><\/span> in 10<\/span><\/span> (63%)<\/span><\/span> of all<\/span><\/span> respondents are <\/span><\/span>already thinking of splurging <\/span><\/span>on their next holiday. <\/span><\/span>However, <\/span><\/span>there is a <\/span><\/span>measure of caution in choosing destinations due to the turn of events. Two thirds of those polled prefer to stay within the country or travel to nearby destinations. Social <\/span><\/span>d<\/span><\/span>istancing norms <\/span><\/span>seem to <\/span><\/span>have <\/span><\/span>an <\/span><\/span>impact<\/span><\/span> on<\/span><\/span> choice of <\/span><\/span>transportation <\/span><\/span>mode<\/span><\/span>: p<\/span><\/span>rivate cars are the preferred mode of transport followed by <\/span><\/span>trains and <\/span><\/span>domestic flights<\/span><\/span>, while c<\/span><\/span>ruise are the<\/span><\/span> least preferred options<\/span><\/span>.<\/span><\/span><\/p>\n

Rise in<\/span><\/span> consumption of media and advertising <\/span><\/span><\/p>\n

More time at home has<\/span><\/span> also<\/span><\/span> resulted in an increase in media consumption and<\/span><\/span> subsequently<\/span><\/span> higher exposure to advertising. <\/span><\/span>Nearly<\/span><\/span> two-thirds<\/span><\/span> (6<\/span><\/span>5<\/span><\/span>%)<\/span><\/span> of the respondents feel that they are watching more ads now than before, and <\/span><\/span>47<\/span><\/span> percent<\/span><\/span> said they are <\/span><\/span>enjoy<\/span><\/span>ing<\/span><\/span> watching <\/span><\/span>them<\/span><\/span>. Screen time has gone up on digital platforms and TV. Current affairs and news bulletins compete with entertainment from drama and series. Video games, reading and music<\/span><\/span> now<\/span><\/span> occupy more <\/span><\/span>of consumers\u2019 <\/span><\/span>time.<\/span><\/span><\/p>\n

The new reality has set in swiftly and changes are occurring constantly. GfK continues to monitor the various segments of the economy on a <\/span><\/span>bi-<\/span><\/span>weekly basis to capture the mood of the consumer and how it translates into parameters that affect business decisions. <\/span><\/span><\/p>\n

\u201cIn a constantly evolving scenario, government measures to improve economic conditions, oil prices and politics among other factors add to the complexities for consideration. <\/span><\/span>Decision makers in business who have access to research will benefit from statistically sound data and will be able to move faster, more surely<\/span><\/span>,<\/span><\/span>\u201d<\/span><\/span> Rahul <\/span><\/span>concluded<\/span><\/span>.<\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Consumers around the world are facing unprecedented challenges as the COVID-19 crisis continues to disrupt their employment, travel and lifestyles. In Egypt, the COVID-19 crisis started mid-February in Egypt, escalated in March, leading to suspension of prayers at mosques on March 21, and then to a curfew in April, eased for Ramadan. GfK conducted the […]<\/p>\n","protected":false},"author":1,"featured_media":4102,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2456],"tags":[2694,2693,2419,2692],"class_list":["post-4101","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-buying-patterns","tag-consumer-pulse","tag-covid-19","tag-gfk"],"_links":{"self":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts\/4101"}],"collection":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4101"}],"version-history":[{"count":1,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts\/4101\/revisions"}],"predecessor-version":[{"id":4105,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts\/4101\/revisions\/4105"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/media\/4102"}],"wp:attachment":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4101"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4101"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4101"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}