How COVID-19 is Impacting Consumer Spending

"Broadly speaking, consumers appear to be embracing brands they can trust. According to CivicScience, brand loyalty has gone up during the pandemic. Aggressive discounting to move inventory and additional, non-comp footwear releases are driving much of the positive results right now in the athletic space, and while this is unsustainable, brands will have difficulty getting customers to spend full price. Consumers may, however, be more inclined to spend more on brands with which they have a closer connection, where loyalty and shared values outweigh the monetary cost."

Matt Powell, Vice President, Senior Industry Advisor, Sports

“I’m often asked if sustainability will still be a concern moving forward or if the pandemic pushed that down the priority list. I think the pandemic has driven many consumers to become even more aware of how their actions impact others—and society as a whole—so I believe sustainability and cause-based programs will remain important and brands and retailers should try not to pause their efforts here.”

Beth Goldstein Executive Director, Industry Analyst, Accessories and Footwear

“Digital ordering through restaurant and third-party apps as well as restaurant websites enabled restaurants to quickly pivot and provided consumers with the safer option of remote ordering and delivery. Not only did the necessity of the time accelerate digital orderings, but it also brought in new users. For example, new users currently represent 48% of third-party foodservice delivery app users.”

David Portalatin, Vice President, Industry Advisor, Food