COVID-19 continues to heighten our money worries, research reveals
The Toluna COVID-19 Barometer is a bi-weekly index that taps into a community panel of 30+ million members providing accurate and timely information on the world’s perceptions regarding the Coronavirus. The latest research surveyed 1,114 respondents in the UK.
As a second wave of COVID-19 hits the UK, financial security is weighing rather heavily on people’s minds with:
61% are concerned about their personal finance situation
33% worried about the pandemic’s knock on effects on the economy and living through a recession.
Perhaps it’s no surprise given 40% of those surveyed said they’re worse off since the pandemic started.
Over a third (36%) are not confident about spending money in the next few months, and 30% worry about money now more than they did before the pandemic started.
Esther Ward, Senior Research Executive at Harris Interactive said “With confidence a lot lower now than pre COVID-19, and many consumers thinking carefully about what they choose to spend their money on, the need to understand consumers’ priorities has never been more important. As the pandemic continues, the way people choose to shop will continue to evolve and consumers will expect a lot more innovation by retailers and brands as a consequence. Brands need to continue to adapt to fit with ever-changing consumer needs.”