04
Wed, Dec
6 New Articles

IBM Study: COVID-19 Is Significantly Altering U.S. Consumer Behavior and Plans Post-Crisis

Channel News
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Personal Mobility, Retail Shopping, and Event Attendance Are Among the Areas Most Impacted

Findings from an IBM Institute for Business Value (IBV) survey of U.S. consumers reveals shifting personal behavior and preferences resulting from the COVID-19 pandemic. 

The study polled more than 25,000 U.S. adults in the month of April to understand how COVID-19 has affected their perspectives on a number of issues, including retail spending, transportation, future attendance at events in large venues, and returning to work. The results revealed that not only do U.S. consumers surveyed plan to make significant changes in the way they go about their lives and work in the wake of the virus, but also that there tend to be stark regional contrasts about those plans depending on where those consumers reside.

Many consumers indicated that they plan to reduce their use of – or forgo entirely – ridesharing and public transportation. They also indicated they are less likely to attend large events once the crisis abates but are more likely to attend sporting events. Many respondents also expressed changes in the way they will shop and spend their money, including an increased willingness to use contactless payment technologies when shopping, alongside a reluctance and hesitation to make new car purchases due to personal financial concerns resulting from the pandemic.  

"The study provides further evidence that COVID-19 is permanently altering U.S. consumer behavior. There are long term implications of the new consumer behaviors for industries like retail, transportation, and travel among others. These organizations need to quickly adapt their business models to serve the new consumer behaviors in order to survive and thrive," said Jesus Mantas, Senior Managing Partner, IBM Services.

Among the more noteworthy findings: 

Personal mobility could be different after the pandemic 
The survey results show consumer attitudes toward public transportation have shifted notably. More than 20 percent of respondents who regularly used buses, subways or trains now said they no longer would, and another 28 percent said they will likely use public transportation less often.  

More than half of people surveyed who used ridesharing apps and services said they would either use these less or stop using these services completely. Findings were not quite as dire for taxis and other traditional car services, as a smaller 24 percent of people surveyed indicated they will no longer use these modes of transportation. 

More use of personal vehicles, but purchases are delayed 
More than 17 percent of people surveyed said that they intend to use their personal vehicle more as a result of COVID-19, with approximately 1 in 4 saying they will use it as their exclusive mode of transportation going forward.  

One-third of respondents said that constraints on their personal finances will "greatly" influence their decision to buy a vehicle once COVID-19 restrictions are lifted. More than 25 percent said that a lack of confidence in the global and U.S. economic outlook will impact their decisions to buy a vehicle – with nearly the same number of people saying they would be holding off on buying for more than 6 months. Consumers added that manufacturer incentive programs are not likely to persuade or change their thinking.  

Event attendance will be down for some time 
When asked about attendance at various types of large events once stay-at-home restrictions are lifted, more than half of respondents said they are unwilling to be exposed to large crowds for the remainder of 2020. Conferences and trade shows had a strong response, with 75 percent indicating that they are unlikely to attend an in-person conference or trade show in 2020. Bars and restaurants are more likely to fare much better. 

More than one-third of consumers indicated they will visit these establishments, with only about ten percent saying they will not. Outdoor parks also represent a favored destination; one-third of respondents said they are very likely to visit an outdoor park after restrictions are lifted. Approximately 25 percent of consumers also indicated they will be ready to visit the beach and 1 in 5 will be ready to go shopping at malls and shopping centers. 

The Retail Experience Continues to Evolve 
Due to their concerns about COVID-19, nearly 40 percent of consumers surveyed said they are likely to use contactless payment options via their mobile device or credit card when shopping. More than 75 percent of respondents indicate they are choosing to visit stores to buy essential goods (i.e., food & beverages and household & cleaning products); however, responding consumers in the Northwest were more likely to buy essential goods online and ship to home or another destination than any other U.S. region. 

The study also reveals that the pandemic has created a priority on shopping local for those surveyed – with 25 percent of respondents indicating they are now shopping more often at locally owned stores and buying more local made, grown or sourced products.  

The Rise of the Remote Workforce 
The forced shift to operating as a largely remote workforce has led to nearly 40 percent of respondents indicating they feel strongly that their employer should provide employee opt-in remote work options when returning to normal operations.  And remote work appears to be growing on people, as more than 75 percent indicate they would like to continue to work remotely at least occasionally, while more than half - 54 percent - would like this to be their primary way of working. 

The shift toward a more remote workforce could require more than a simple change of location – it may require the use of soft skills to continue to be productive and successful. A 2019 study from the IBV revealed that adaptability, time management and ability to work well on teams as some of the most crucial to the workforce today – however, only 41 percent of CEOs surveyed felt they had the capability in terms of people skills and resources required to execute their business strategies. It will be imperative for organizations to prioritize reskilling employees around these core capabilities. 

For further information on IBM's Institute for Business Value, please visit: https://www.ibm.com/thought-leadership/institute-business-value/

About IBM Institute for Business Value  
The IBM Institute for Business Value (IBV), part of IBM Services, develops fact-based, strategic insights for senior business executives on critical public and private sector issues. Follow @IBMIBV on Twitter, and for a full catalog of our research or to subscribe to our newsletter, visit: www.ibm.com/ibv

 

IBM is a leading global hybrid cloud and AI, and business services provider, helping clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM's hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently, and securely. IBM's breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM's legendary commitment to trust, transparency, responsibility, inclusivity, and service.

For more information, visit: www.ibm.com.

BLOG COMMENTS POWERED BY DISQUS

LATEST COMMENTS

Support MC Press Online

$

Book Reviews

Resource Center

  • SB Profound WC 5536 Have you been wondering about Node.js? Our free Node.js Webinar Series takes you from total beginner to creating a fully-functional IBM i Node.js business application. You can find Part 1 here. In Part 2 of our free Node.js Webinar Series, Brian May teaches you the different tooling options available for writing code, debugging, and using Git for version control. Brian will briefly discuss the different tools available, and demonstrate his preferred setup for Node development on IBM i or any platform. Attend this webinar to learn:

  • SB Profound WP 5539More than ever, there is a demand for IT to deliver innovation. Your IBM i has been an essential part of your business operations for years. However, your organization may struggle to maintain the current system and implement new projects. The thousands of customers we've worked with and surveyed state that expectations regarding the digital footprint and vision of the company are not aligned with the current IT environment.

  • SB HelpSystems ROBOT Generic IBM announced the E1080 servers using the latest Power10 processor in September 2021. The most powerful processor from IBM to date, Power10 is designed to handle the demands of doing business in today’s high-tech atmosphere, including running cloud applications, supporting big data, and managing AI workloads. But what does Power10 mean for your data center? In this recorded webinar, IBMers Dan Sundt and Dylan Boday join IBM Power Champion Tom Huntington for a discussion on why Power10 technology is the right strategic investment if you run IBM i, AIX, or Linux. In this action-packed hour, Tom will share trends from the IBM i and AIX user communities while Dan and Dylan dive into the tech specs for key hardware, including:

  • Magic MarkTRY the one package that solves all your document design and printing challenges on all your platforms. Produce bar code labels, electronic forms, ad hoc reports, and RFID tags – without programming! MarkMagic is the only document design and print solution that combines report writing, WYSIWYG label and forms design, and conditional printing in one integrated product. Make sure your data survives when catastrophe hits. Request your trial now!  Request Now.

  • SB HelpSystems ROBOT GenericForms of ransomware has been around for over 30 years, and with more and more organizations suffering attacks each year, it continues to endure. What has made ransomware such a durable threat and what is the best way to combat it? In order to prevent ransomware, organizations must first understand how it works.

  • SB HelpSystems ROBOT GenericIT security is a top priority for businesses around the world, but most IBM i pros don’t know where to begin—and most cybersecurity experts don’t know IBM i. In this session, Robin Tatam explores the business impact of lax IBM i security, the top vulnerabilities putting IBM i at risk, and the steps you can take to protect your organization. If you’re looking to avoid unexpected downtime or corrupted data, you don’t want to miss this session.

  • SB HelpSystems ROBOT GenericCan you trust all of your users all of the time? A typical end user receives 16 malicious emails each month, but only 17 percent of these phishing campaigns are reported to IT. Once an attack is underway, most organizations won’t discover the breach until six months later. A staggering amount of damage can occur in that time. Despite these risks, 93 percent of organizations are leaving their IBM i systems vulnerable to cybercrime. In this on-demand webinar, IBM i security experts Robin Tatam and Sandi Moore will reveal:

  • FORTRA Disaster protection is vital to every business. Yet, it often consists of patched together procedures that are prone to error. From automatic backups to data encryption to media management, Robot automates the routine (yet often complex) tasks of iSeries backup and recovery, saving you time and money and making the process safer and more reliable. Automate your backups with the Robot Backup and Recovery Solution. Key features include:

  • FORTRAManaging messages on your IBM i can be more than a full-time job if you have to do it manually. Messages need a response and resources must be monitored—often over multiple systems and across platforms. How can you be sure you won’t miss important system events? Automate your message center with the Robot Message Management Solution. Key features include:

  • FORTRAThe thought of printing, distributing, and storing iSeries reports manually may reduce you to tears. Paper and labor costs associated with report generation can spiral out of control. Mountains of paper threaten to swamp your files. Robot automates report bursting, distribution, bundling, and archiving, and offers secure, selective online report viewing. Manage your reports with the Robot Report Management Solution. Key features include:

  • FORTRAFor over 30 years, Robot has been a leader in systems management for IBM i. With batch job creation and scheduling at its core, the Robot Job Scheduling Solution reduces the opportunity for human error and helps you maintain service levels, automating even the biggest, most complex runbooks. Manage your job schedule with the Robot Job Scheduling Solution. Key features include:

  • LANSA Business users want new applications now. Market and regulatory pressures require faster application updates and delivery into production. Your IBM i developers may be approaching retirement, and you see no sure way to fill their positions with experienced developers. In addition, you may be caught between maintaining your existing applications and the uncertainty of moving to something new.

  • LANSAWhen it comes to creating your business applications, there are hundreds of coding platforms and programming languages to choose from. These options range from very complex traditional programming languages to Low-Code platforms where sometimes no traditional coding experience is needed. Download our whitepaper, The Power of Writing Code in a Low-Code Solution, and:

  • LANSASupply Chain is becoming increasingly complex and unpredictable. From raw materials for manufacturing to food supply chains, the journey from source to production to delivery to consumers is marred with inefficiencies, manual processes, shortages, recalls, counterfeits, and scandals. In this webinar, we discuss how:

  • The MC Resource Centers bring you the widest selection of white papers, trial software, and on-demand webcasts for you to choose from. >> Review the list of White Papers, Trial Software or On-Demand Webcast at the MC Press Resource Center. >> Add the items to yru Cart and complet he checkout process and submit

  • Profound Logic Have you been wondering about Node.js? Our free Node.js Webinar Series takes you from total beginner to creating a fully-functional IBM i Node.js business application.

  • SB Profound WC 5536Join us for this hour-long webcast that will explore:

  • Fortra IT managers hoping to find new IBM i talent are discovering that the pool of experienced RPG programmers and operators or administrators with intimate knowledge of the operating system and the applications that run on it is small. This begs the question: How will you manage the platform that supports such a big part of your business? This guide offers strategies and software suggestions to help you plan IT staffing and resources and smooth the transition after your AS/400 talent retires. Read on to learn: