“POST LOCKDOWN VISION”
March 22 / 2021 | News
With a vision of “post lockdown” fast approaching and the continued roll out of the vaccine, consumer confidence has risen to the highest level since before the pandemic started.
- Economists predict higher-earning consumer savings could be up to £160bn, with a predicted 5-10% of this likely being spent on nights out, retail, holidays and more.
- It’s predicted that consumers will save less money going forward due to post-pandemic splurging.
- The consumer confidence score increased to 105.4 in February. Scores over 100 means consumers are more confident than not.
With restrictions being lifted from April 12th, the UK has already seen a surge in demand for experiences that were prohibited in lockdown.
- Pubs and beer gardens are reported to be fully booked for months.
- A well-known airline saw bookings increase 500% over night after lockdown roadmap was released.
- UK domestic tourism sites saw 200-300% increases YOY.
- John Lewis is to lower prices as it prepares for post lockdown to encourage spending.
How does this affect planning?
Whilst the Government’s unlocking plan progresses, there is still caution to the fact restrictions could be extended and marketers should still maintain flexible and reactive planning, as learning from past experience…anything could happen.
However, there is certainly a wave of optimism that should be capitalised on from the eager consumers looking to plan and book things to look forward to and it is time to re-engage your audience to bring your brand back to front of mind.
Consumers are still cautious, so reassurance will still be needed from safety messaging to booking protection, but this creates another opportunity to communicate with customers to increase confidence and trust.
As media consumption will again adapt as consumers start spending less time at home, now more than ever will a synchronised media approach be needed to continue reaching users at multiple touchpoints, utilising offline and online media to own the user journey.
There’s no doubt we still have some time to go before any normality, but the future is certainly looking positive.