Blis keeps finger on the pulse of consumer behaviour with global sentiment tracker
B
lis, a trusted leader in location-powered advertising and analytics has released the Blis consumer confidence pulse, an interactive tracker that captures a quick snapshot of consumer sentiment.
The tracker plots how consumers are feeling about their local economy, household finances and spending intent and the survey is running in Singapore, the UK, USA, UAE and Australia.
Based on three highly topical questions around finances the Blis pulse is updated twice monthly to provide a rounded picture of how consumers are reacting to changes in their situation, both personally and on a national scale.
Head of Insights, Alex Wright speaking on the tracker said, We started this tracker in the wake of the COVID-19 outbreak being declared a pandemic to give us a quick read on consumer sentiment. Armed with the knowledge of what consumers are telling us, we can then plot this against our retail foot traffic and consumer movement data to give a rounded view of progress through crisis, stability and recovery.
Over the past six months, physical movement restrictions have ebbed and flowed in different cities across the country with daily activities requiring new safety measures. As a result, most consumers are behaving differently, with many working from home, avoiding crowded public spaces and communicating virtually. For brands, this tracker provides an opportunity to contextualise other data sources to really understand the concerns of their audience.
For the most part sentiment towards the Singaporean economy has remained remarkably robust, except for a dramatic swing in June. This coincided with Prime Minister Lee's address to the nation and messaging from several government ministers that the Covid-19 pandemic meant the road to recovery would be a long one. Early July saw the most optimism in both the economy and household finances although we're beginning to see a decline in sentiment once again. Interestingly, the pessimistic spike in early June led to a surge in intent to spend additional funds on home improvement, as people prepared to settle in for the long haul. Aside from this, Singaporeans have consistently declared their intent to save any spare income.
2020 has been nothing short of a rollercoaster year. Everyone has been impacted differently and now people are not only concerned about the health crisis, but also the global financial crisis. Since March, we've seen brands pivot their operations, strategy and messaging multiple times to meet their consumers' concerns about safety. Looking ahead, it's essential for brands to pivot again and remain sensitive to their audience's financial confidence. The Blis consumer confidence pulse allows brands a quick snapshot of the direction of sentiment, said Fionn Hyndman, Managing Director Asia.
✔️ Blis keeps finger on the pulse of consumer behaviour with global sentiment tracker
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