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Research into consumer expenditure can help businesses understand where household budgets are going, and how much is being spent. As a consumer survey company, we know that consumer purchasing is essential to fuelling the economy. We also understand how valuable surveys around consumer expenditure can be to discovering the unmet needs of consumers around shopping and spending.
The suspension of much of economic life during the COVID-19 pandemic and the uncertainty that will surely follow is predicted to have a significant impact on consumer confidence and their ability to spend, given the characteristics of a socially distanced world.
But how exactly will consumer expenditure be affected? Will consumers spend or save the money they have? Which sectors and categories stand to gain and which stand to lose? How can you best reach your customers in a socially distanced world? Which demographics are most likely to be active in your market? How will consumer confidence impact business confidence, and how is it expected to change over time?
Consumer expenditure research can help B2C businesses (both clicks and bricks) understand and navigate trends in personal spending in a way that best allows their businesses to thrive. Whether in retail, hospitality or leisure, a consumer expenditure survey will help give your B2C business the insight it needs to perform and grow. Try out our calculator and see how little you need to invest to find out.