GroupM is reporting an “unprecedented drop in consumer confidence” due to financial worries related to the pandemic in a new report on changing consumer attitudes, behavior and media usage, states MediaPost, which adds that the global research underlying the report found that a majority of people (52%) feel “tense” or “distressed” as a result of pandemic-induced pressures.

Not surprisingly, daily usage of the internet for TV and video content has increased 19%, MediaPost adds,  and digital generally “has become the lifeblood for everyone, everywhere and the key to survival,” the report asserts. The pandemic has had the largest impact among “digital laggards” who been forced to learn the benefits of activities like online shopping driving a more “balanced  global profile” of the digital audience.

“The report found a “massive uptick” in the number of people using streaming and other paid on-demand services on a daily basis (76%). Case in point: Netflix added 26 million accounts between January and June 2020, more than double the 12 million added in the year ago period.

“Not surprisingly, video communication activity such as video conferencing has soared. Globally digital communication activities have grown 31% on a weekly basis. In just one month (March) video conferencing app downloads totaled 62 million.”

The pandemic has been “a true game changer in terms of media consumption habits and purchasing behavior,” the GroupM study concludes. “In this new world consumers will hold businesses and brands to higher standards across a combination of factors: empathy, honesty and transparency, being socially conscious, being personal and personable, and ensuring communication is centered on local, health and safety and value/affordability.”

GroupM bills itself the world’s leading media investment company.

More here.


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