In keeping with the survey, Individuals is not going to rush to retail shops to buy after receiving the Covid vaccine
Pedestrians wearing protective masks carry shopping bags in San Francisco, California on Wednesday, December 23, 2020.
David Paul Morris | Bloomberg | Getty Images
While millions of Americans are waiting for their turn to get the Covid-19 vaccine, many say they will not return to retail stores after vaccination to buy clothes and shoes after vaccination.
According to a study published Wednesday by First Insight, 40 percent of consumers plan to buy the same or less amount of clothing in stores after vaccination. The predictive consumer analytics company asked more than 1,000 people online about their shopping plans on January 13th.
Forty-four percent of respondents said they would visit stores the same or less to buy shoes after vaccination, while 45 percent said they would visit stores the same or less for beauty products, 41 percent said they would go to stores for luxury items and 43 percent for that Electronics.
The lesson here is that while it is widely believed that Americans will return to some level of normalcy after vaccination, it doesn’t look like it will happen anytime soon, said Greg Petro, Founder and CEO of First Insight.
“Number one, not everyone is comfortable getting vaccinated,” said Petro. “Number two, most people won’t rush to the stores after the vaccination. … It will be a long time before people are really comfortable and get used to the world again. And so you can count on seeing 2021 2020 very similar. “
About a third of respondents said they are either not sure they are getting the Covid-19 vaccine or that they are not going to get it, First Insight noted.
About 23.5 million doses of the Covid-19 vaccine had been administered in the US as of Tuesday, according to a record from the Centers for Disease Control and Prevention. According to the CDC, more than 44.4 million cans have been distributed.
President Joe Biden’s goal is to deliver 100 million Covid-19 vaccines in his first 100 days. However, the Biden government has been urged repeatedly to see whether this goal is ambitious enough given the severity of the global health crisis.
More than half, or 53%, of respondents said they would continue to wear face masks in stores after vaccination, First Insight found. 60 percent of respondents said persistent spikes in Covid-19 across the country are preventing them from shopping in stores.
Retailers selling clothes and shoes, especially in shopping malls, have been hardest hit due to this shift in spending. According to an analysis by Coresight Research, online apparel and footwear sales grew 27.2% to $ 121.5 billion in 2020. The total market for clothing and shoes in the USA shrank by around 12.1%.
Companies like Macy’s and American Eagle continue to close stores in malls. Analysts say another wave of retail store closures is likely in 2021, the severity of which will depend on the financial confidence and comfort of consumers when they go shopping again.
A separate NielsenIQ survey conducted in December of more than 11,000 consumers worldwide found that many people continue to be reluctant to change their consumption patterns abruptly, even as the adoption of the Covid-19 vaccine increases. Just over half, or 53%, of respondents in the US said they will be confident in their personal finances by the time they will be vaccinated, NielsenIQ found.
64 percent of those surveyed in the NielsenIQ survey in the US said they will spend the same amount on food after vaccination, while 21 percent said they will spend more and 15 percent less. Forty-one percent said they plan to spend the same amount of money on food after vaccination, while 24 percent said they would spend more and 22 percent less.