Consumer Behavior

Consumer spend won't change much this year, claims research

Photo by istock.com

May 5, 2021

More than half of U.S. consumers (60%) expect a return to normality within the year and 56% are optimistic about the year ahead.

In terms of spending, a good majority (83%) are likely to maintain, or increase, spend in the next 12 months.

Those are top findings from the "2021 Consumer Insights Report," from Tremor Video and ad platform Unruly. The research polled a national sample of 893 U.S. consumers, according to a press release.

When it comes to spend the top categories, in order, are groceries, beauty, electronics, home and home entertainment.

"With this likely increase in spending comes promising news for brands with brick-and-mortar dimensions of their businesses, as 84% of consumers plan on shopping in-person during the year, with 29% reporting that they will do all of their shopping in-person and 23% reporting that they will do most of their shopping in-person with some online shopping," stated the release.

Additional findings include:

• Consumers report they will be more supportive of local businesses with most (59%) planning to continue shopping locally.
• Most (58%) consumers have adopted new behaviors thanks to increased time shopping online during COVID; this is especially prevalent among the 18-34 age group.

"After a long period of being homebound, consumers are feeling positive about the future, as they look to resume activities like dining out, traveling and in-store shopping, all of which should give advertisers a renewed sense of confidence in the months ahead," Terence Scroope, VP of media insights and analytics, Tremor Video, said in the release.