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Predicting holiday spending across consumer types in the ‘new normal’

Recent research by Nielsen predicts that the over the forthcoming holiday festive season consumers will fall into one of five groups depending on how they have been impacted by the Covid-19 pandemic.

“The holidays have always been a time for friends and family to come together, often in larger numbers than usual. But travel constraints and local health rules will force smaller gatherings in many parts of the world, and that will result in different festive spending patterns compared with years past.

“As the holidays loom, we predict that consumers will fall into one of five groups that span the spectrum of existing financial and physical restrictions.

Each of these five consumer groups will approach the reset of their holiday shopping behavior uniquely. As plans change on a daily basis related to COVID-19 developments, it will be imperative that companies align their plans with the new circumstances consumers find themselves in.”

Read the full article here: https://www.nielsen.com/us/en/insights/article/2020/predicting-holiday-spending-across-consumer-types-in-the-new-normal/

Website: Nielsen

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