July 10, 2020

Consumer Confidence Flat in July

by Jharonne Martis.

“Although Consumer Confidence has declined significantly since the pandemic began, American consumers are not feeling any less comfortable even as new virus hotspots are popping up across the country,” reports Chris Jackson of Ipsos. “Consumers have grappled with the virus for several months now and are perhaps more relaxed in this new normal.”

Jharonne Martis, Director of Consumer Research at Refinitiv, said, “As consumers settle into the new “normal”, health and wellness are a top priority for them, and they are spending more money online which is boosting ecommerce sales. They are gravitating towards online retailers like Etsy to purchase face masks, which is expected to see triple digit earnings growth in Q2 2020. Similarly, traditional retailers with solid e commerce presence are expected to continue seeing healthy growth in 2020.”

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