1 in 3 Consumers Bought Durable Goods in March Because of The Coronavirus
Chicago, IL (April 9, 2020) – Numerator, a data and tech company serving the market research space, has now extended its weekly Numerator Shopping Behavior Index tracker to include QSRs (quick service restaurants), home improvement, consumer electronics and office supply stores to provide further visibility into consumer buying behavior shifts driven by COVID-19 (Coronavirus). The Numerator Shopping Behavior Index now highlights shifts in U.S. consumer buying behavior versus a year ago across 18 retail channels with an omnichannel view on a week by week basis.
In addition to QSRs, home improvement, consumer electronics and office supply stores, the shopping behavior index channels include: beauty, bodega, club, dollar, drug, food, gas & convenience, health, liquor, mass, military, online, pet and specialty stores – along with an omnichannel view, meaning across all channels off and online
The new data confirms Home Improvement stores surged in sales with a rise in number of household shopping as buyers turned to them for home supplies.
“1 in 3 durables purchases in March was driven by the COVID-19 dynamics,” said Eric Belcher, CEO, Numerator. “People bought durable goods because they’ll be spending more time at home and their kids will be home from school. When it comes to office electronics, toys & games, video games and subscription services, more people are buying early or spontaneously over postponing or cancelling a planned purchase.”
QSRs saw dramatic declines with restrictions to carry-out coupled with shelter-in-place orders. The addition of QSR data allows brands, retailers, restaurants and analysts to track consumer food expenditures regardless of where they take place. “There is no longer on-premise consumption at QSRs, and brands and retailers need to understand that reallocation of spend,” said Belcher.
Numerator is a data and tech company serving the market research space. Headquartered in Chicago, IL, Numerator has 1,600 employees worldwide. The company blends proprietary data with advanced technology to create unique insights for the market research industry that has been slow to change. The majority of Fortune 100 companies are Numerator clients.
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