It’s been a little over six months since the COVID-19 outbreak started, and a lot of things have changed. To control the spread of the coronavirus, lockdowns have been imposed in several countries like the US, UK, India, and more. The lockdown may have helped in slowing down the virus spread, but it has severely impacted economic activities across the globe. At Counterpoint, we recently conducted our Consumer Lens Study to understand the changing consumer intention and attitudes during the pandemic.
Due to the coronavirus outbreak, a lot of people have lost jobs across different countries. This has affected their future income uncertainty. As a result, consumer buying behavior will strictly be limited to only the essentials. This also means there could be a reduction in their budget. Our Consumer Lens Study aimed to find out if consumers intent to cut their budget for the next smartphone purchase. Also, with social distancing norms in place, we wanted to find out if consumers will be looking for ‘low touch’ sales channels. For companies in the smartphone value chain, our latest podcast episode will help in understanding the consumer demand dynamics and calibrate strategies accordingly in these testing times.
In the latest episode, “The Counterpoint Podcast” host Peter Richardson discusses the impact of COVID-19 on the consumer spending pattern with senior analyst Pavel Naiya and associate Arushi Chawla. In the podcast episode, Arushi talks about smartphone markets in which we conducted the study and the key findings. Pavel, on the other hand, sheds light on consumer sentiments over buying smartphones from Chinese companies. He also talks about how smartphone makers are coping up with the demand when consumers cannot go to the store and buy smartphones.