Experian Releases New Research Insights on Consumer Sentiment During COVID-19 Outbreak

Apr 15, 2020Financial Literacy, News

Credit monitoring company Experian North America recently announced a new set of resources designed to enable essential businesses, such as healthcare providers, government agencies, and non-governmental organizations, to better provide aid to those most affected by the COVID-19 pandemic. The new data looks at At-Risk Audiences to identify groups most likely to be impacted, and is being offered free of charge.

“With so many lives upended and millions across the country struggling to adapt to our new reality, if we can help even one person, we will be proud to have done so,” said Genevieve Juillard, Experian’s President of Targeting and Data Quality Services. “Experian has an unwavering commitment to help consumers and businesses during this time.”

“We believe data and technology can help address some of the challenges facing our communities and society,” Juillard continued. “The more easily essential organizations can identify those most in need, the more quickly they can be taken care of.”

As the pandemic continues to unfold, Experian is also supplying its clients with a daily-updated dashboard to research insights on changing consumer sentiment. The dashboard allows businesses to see how consumer behavior has shifted, specifically in the automotive, financial services, healthcare, and retail industries. It also covers consumers’ media consumption habits.

Some of the recent insights from the dashboard include that 58 percent of millennials have no financial reserves to draw from and 64 percent of Americans are concerned about their ability to get food and essential products. However, retail spending on video games, books, and music has increased 16 percent from last month. 56 percent of consumers are also watching more television and 39 percent are reading more newspapers compared to the month before.

Businesses also found that most older consumers (79 percent of Generation X and 73 percent of Baby Boomers) would rather postpone seeking medical care than put themselves at risk by going to the doctor.

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