As consumer behaviors continue to evolve during the COVID-19 crisis, new research from tax and advisory services firm EY defines four distinct consumer behavior segments, with key insights for marketers and communicators. According to the first edition of the EY Future Consumer Index, these are “Cut deep,” “Stay calm, carry on,” “Save and stockpile” and “Hibernate and spend.”
Across the markets EY surveyed, some consumers are making deep cuts. Others are continuing to spend as normal but are changing how they live in other ways. For now, many are remarkably optimistic. Looking across all the Index data, they identified four segments of behavior.