As the experts in what consumers want and why, data and insights related to consumer attitudes and behaviors are at the heart of everything we do. 2020 brought a bevy of challenges, and, to use a pandemic trope, now more than ever what we want as consumers is impacted heavily by factors outside of our control. As a team of analysts, we’re continuously tracking the world around us, to help our clients make sense of consumers in today’s world.
Four things you need to know about Mintel Reports
- Every US Mintel Report published since April 2020 includes an analysis of the impact of COVID-19, in both the immediate and long term.
- Our core assumption since the start of the outbreak has been that there’d be a vaccine rollout in early- to mid-2021, and this has been factored into our market analysis and forecast expectations.
- Market forecasts since July 2020 have incorporated the belief that economic recovery will be prolonged and follow an extended-check shape.
- The upcoming ‘American Values’ report – part of the Culture and Identity report series launched in 2020 – will explore what it means to be an American today, analyzing the divisive political environment, levels of trust, and how these impact consumer behavior.
What does the future hold – for America and Mintel Reports?
While the vaccine roll-out has started in the US, the number of available doses remains low and the process will be slow. The fast-spreading COVID-19 variant is emerging in the US and is predicted to soon be the main variant impacting our nation. This comes at a time when pandemic fatigue is high, parents and school districts across the country are eager to get students back to in-person learning, and businesses are desperate to welcome customers back into stores.
Each change Americans face brings with it new considerations that we use to inform our research on consumers and markets.
On January 20, 2021, political leadership changed hands as Joe Biden was sworn in as the 46th president of the US, and with it control of the governmental response to pandemic management, healthcare, environmental protection, and social support. However, while the change in administration was swift, changing the consumer mindset takes time. But each change Americans face brings with it new considerations that we use to inform our research on consumers and markets.
We continue to track consumer behavior related to COVID-19 and predict how it will affect the many categories we cover, including research on pandemic fatigue and perceptions of and plans to take the vaccine.
In addition to category-specific research in all of our US Reports, we will soon publish a dedicated ‘Impact of COVID-19: A year into the pandemic’ report series, providing the latest insight and forecasts across macro-categories, such as food and drink, foodservice, retail, technology, and consumer leisure trends.
Recognizing the growing divide in our nation and the impact social and political beliefs have on consumers, in 2020, we launched a new report series dedicated to consumer culture and identity. Our upcoming ‘American Values’ report will explore what it means to be American today, analyzing the divisive political environment, levels of trust, and how these impact consumer behavior.
Change doesn’t stop just because we’ve turned the page on the calendar or inaugurated a new president. 2021 will continue to bring new developments to the virus, the economy, and American life as a whole. And our focus at Mintel will endure.
We will continue to obsess about what consumers want and why, how the world around us impacts these wants and needs, and what it all means for companies and brands.
Part two of this two-part series assesses the impact of a public health crisis, political turmoil and social unrest on US consumers. Read more here.
