UK Buyers Under 35 Less Worried About COVID-19: GlobalData
Younger UK consumers feel more optimistic than those over 35 and are likely to be more willing to embrace the lockdown loosening when it happens, according to data analytics company GlobalData, which recently said retailers targeting younger consumers are likely to see footfall return quicker than players aimed at the more cautious over-35 consumers.
“Despite the majority of UK consumers remaining concerned about COVID-19, under 35s are slightly more optimistic likely to be due to the lower death rates amongst the young. 42.0 per cent of under 35s are extremely concerned about coronavirus in comparison to 53.7 per cent of over 35s. Those over 35 will feel more cautious about returning to non-essential retail stores once they are able to re-open and retailers will need to clearly communicate the safety measures they have in place to ease their worries,” Sofie Willmott, lead retail analyst at GlobalData, said in a press release.
Retailers whose customers are primarily over 35 should prepare for online sales to remain inflated and should gear up warehouses to cope with the ongoing demand while trying to improve delivery times that have been slowed down by social distancing measures being introduced, the company said.
The company found 15.7 per cent of consumers over 35 do not expect things to return to normal until the end of year (versus 10.2 per cent of those under 35), and therefore, will be prepared to stay home for a longer period and it will be harder for retailers such as Marks & Spencer and John Lewis & Partners to coax their customers back into branches.
Following the initial instructions from the government to stay at home for 12 weeks, many older consumers are not convinced this is long enough with almost one fifth expecting to wait till the end of the year until their lives return to normal.