On Friday, Nielsen released results from its second study tracking national consumer sentiment on COVID-19 recovery and purchase intentions. Over one thousand adults were in the study done late last month. The same study was done in late April. The shift in the attitudes of consumers in that one 4-week period was incredible. People want to get out of their homes and they are ready to spend money.
According to Nielsen, in the first study, 34% expressed the greatest optimism to return to normal. In the second study, that group grew to 54%. And, the “wait and see” group dropped from 29% to 11%.
Nielsen also says their study shows that, compared to heavy TV viewers, heavy AM/FM radio listeners are much more likely to make a purchase within a month after the crisis eases.
Westwood One’s Pierre Bouvard writes about that in his latest blog, which focuses on the new Nielsen study. “On average, 32% of heavy TV viewers say they will make purchases one month after COVID-19 eases in their area. A far greater proportion of heavy AM/FM radio listeners (42%) say they will make purchases within a month after the crisis eases across these twelve categories.”
More good news from the study. As auto sales show signs of rebounding and in-car listening increases with people returning to their vehicles to get to work again, Nielsen reports that heavy AM/FM radio listeners are +50% more likely than heavy TV viewers to make an auto purchase in the next year. 33% of heavy AM/FM radio listeners say they will purchase a vehicle in the next year compared to only 22% of heavy TV viewers.