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McKinsey Survey: Canadian consumer sentiment during the coronavirus crisis

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Since May 2020, more Canadians are feeling more pessimistic about the economic recovery and believe COVID-19 will have a lasting impact on the economy .

These exhibits are based on survey data collected in Canada from August 14–19, 2020. Check back for regular updates on Canadian consumer sentiments, behaviors, income, spending, and expectations.

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McKinsey Survey: Canadian consumer sentiment during the coronavirus crisis

  1. 1. McKinsey & Company 1 More Canadians are feeling pessimistic about an economic recovery compared to April and May Confidence in own country’s economic recovery after COVID-191 % of respondents 1 Q: How is your overall confidence level in economic conditions after the COVID-19 situation? Rated from 1 “very optimistic” to 6 “very pessimistic”; figures may not sum to 100% because of rounding. Source: McKinsey & Company COVID-19 Canada Consumer Pulse Survey 8/14–8/19/2020, n = 1,032; 5/21–5/24/2020, n = 1,080; 5/6–5/10/2020, n = 1,058; 4/21–4/23/2020, n = 1,054; 4/8–4/11/2020, n= 1,055; 4/3–4/5/2020, n = 1,034; sampled and weighted to match Canada’s general population 18+ years 20% 18% 18% 19% 19% 29% 58% 60% 62% 59% 62% 53% 21% 22% 20% 22% 20% 19% Mixed: The economy will be impacted for 6–12 months or longer and will stagnate or show slow growth thereafter Pessimistic: COVID-19 will have lasting impact on the economy and show regression/fall into lengthy recession Optimistic: The economy will rebound within 2–3 months and grow just as strong as or stronger than before COVID-19 April 3–5 April 8–11 April 21–23 May 6–10 May 21–24 Aug 14–19 Canada
  2. 2. McKinsey & Company 2 The majority of Canadians believe that financial impacts from COVID-19 will continue to last well beyond another two months 8% 38% 20% 14% 19% 0–1 month 2–3 months 4–6 months 7–12 months More than one year 34% 8% 14% 10% 29% No impact 0–1 month More than one year 2–3 months 4–6 months 7–12 months 4% Adjustments to routines1 % of respondents Impact on personal/household finances2 % of respondents ~92% believe it will take 2+ months before routines can return to normal, the same as in the last pulse survey ~62% believe their finances will be impacted for 2+ months by the COVID-19 situation, down from 72% in the last pulse survey 1 Q: How long do you believe you need to adjust your routines, given the current COVID-19 situation, before things return back to normal in Canada (e.g., government lifts restrictions on events/travel)? Figures may not sum to 100% because of rounding. 2 Q: How long do you believe your personal/household finances will be impacted by the COVID-19 situation? Figures may not sum to 100% because of rounding. Source: McKinsey & Company COVID-19 Canada Consumer Pulse Survey 8/14–8/19/2020, n = 1,032; 5/21–5/24/2020, n = 1,080, sampled and weighted to match Canada’s general population 18+ years
  3. 3. McKinsey & Company 3 Household income1,2 % of respondents Increase slightly / increase a lotReduce slightly / reduce a lot About the same 6% 53% Past 2 weeksPast 2 weeks 41% 6% 64% 31% 7% 75% 17% Next 2 weeks 1 Q: How has the COVID-19 situation affected your (family’s) overall available income, spending, and savings in the past two weeks? Figures may not sum to 100% because of rounding. 2 Q: How do you think your overall available income, spending, and savings may change in the next two weeks? Figures may not sum to 100% because of rounding. Canadians saw less of an impact to their income, spending, and savings in August as compared to May Household spending1,2 % of respondents 21% 43%29% 51% 16% Past 2 weeks Past 2 weeks 41% 10% 67% 22% Next 2 weeks May 21–24 Aug 14–19 Household savings1,2 % of respondents 40% 43% 17% 48% Past 2 weeks Past 2 weeks 16% 36% 10% 67% 23% Next 2 weeks Source: McKinsey & Company COVID-19 Canada Consumer Pulse Survey 8/14–8/19/2020, n = 1,032; 5/21–5/24/2020, n = 1,808, sampled and weighted to match Canada’s general population 18+ years May 21–24 Aug 14–19 May 21–24 Aug 14–19
  4. 4. McKinsey & Company 4 Which best describes how often you are doing each of the following items1 % of respondents 1 Q: Which best describes how often you are doing each of the following items? Possible answers: “doing less since coronavirus started”; “doing about the same since coronavirus started”; “doing more since coronavirus started.” Figures may not sum to 100% because of rounding. But consumers remain mindful of how they spend and save money Source: McKinsey & Company COVID-19 Canada Consumer Pulse Survey 8/14–8/19/2020, n = 1,032, sampled and weighted to match Canada’s general population 18+ years 5% 5% 6% 6% 8% 55% 59% 65% 66% 74% 40% 36% 29% 28% 18% Becoming more mindful of where I spend my money Spending time planning/making lists for shopping trips Changing to less-expensive products to save money Looking for ways to save money when shopping Researching brand and product choices before buying 100% Doing less Doing moreDoing about the same
  5. 5. McKinsey & Company 5 While spending on discretionary categories remains below precrisis levels, it has started to rebound in almost all categories Expected spending per category over the next two weeks compared to usual1 % of respondents 1 Q: Over the next two weeks, do you expect that you will spend more, about the same, or less money on these categories than usual? Figures may not sum to 100% because of rounding. 2 Net intent is calculated by subtracting the % of respondents stating they expect to decrease spending from the % of respondents stating they expect to increase spending. 3 Data not available or sample size < 30. 8 16 16 27 24 29 39 48 41 54 54 16 13 14 31 52 25 13 8 11 7 9 9 6 11 7 6 Quick-service restaurant Snacks Accessories Groceries Food takeout & delivery 10 Restaurant Tobacco products Alcohol 5 Non-food child products Jewelry Footwear Apparel 3 4 5 Household supplies Personal-care products Skin care & makeup 5Furnishing & appliances 5OTC medicines Stay the same Decrease Increase 20 11 30 45 49 24 36 33 19 41 46 26 58 48 65 57 58 7 9 8 8 12 6 6 8 13 18 11 11 7 Vitamins/supplements Hotel/resort stays Entertainment at home Fitness & wellness Consumer electronics Books/magazines/newspapers Out-of-home entertainment 10 Pet-care services Personal-care services Domestic flights 10Gasoline Vehicle purchases Short-term home rentals Travel by car Cruises Adventures & tours International flights 10 10 Net intent2 -2 -22 -37 -37 -18 -26 -28 -9 -33 -36 -12 -40 -37 -55 -50 -48 Net intent2 +5 -5 -5 -46 -6 -8 -16 -17 -20 -30 -43 -35 -51 -49 -10 -25 Net intent: Above +1 Net intent: -15 to 0 Net intent: Below -15 Change since first survey Change since first survey Source: McKinsey & Company COVID-19 Canada Consumer Pulse Survey 8/14–8/19/2020, n = 1,032; first survey 4/3-4/5, n=1,034; sampled and weighted to match Canada’s general population 18+ years - +7 +7 +16 +10 +47 +58 +34 +43 +32 +33 +25 +2 +14 +33 +33 N/A3 N/A3 -8 +13 +29 +51 +45 +52 +54 +66 +43 +44 +67 +37 +57 +36 +40 +42-20 -13
  6. 6. McKinsey & Company 6 UsergrowthsinceCOVID-192 Intent to use after COVID-191 Percent of new or increased users who intend to keep doing activity after COVID-19 1 Q: Compared to now, will you do or use the following more, less, or not at all, once the coronavirus (COVID-19) situation has subsided? Possible answers: “will stop this”; ”will reduce this”; “will keep doing what I am doing now”; “will increase this.” 2 User growth is calculated as % of respondents who replied that they are new users over % of respondents who replied that they were using the product/service pre-COVID-19 (using more, using the same or using less). Source: McKinsey & Company COVID-19 Canada Consumer Pulse Survey 8/14–8/19/2020, n = 1,032, sampled and weighted to match Canada’s general population 18+ years Consumers have adopted contactless self-serve habits that they intend to continue even after the pandemic has subsided 0 453015 10560 0 75 90 50 100 150 200 Self-checkout or scan-and-go at a physical store Grocery delivery Curbside pickup from a restaurant Meal-kit delivery Restaurant food delivery Drive-through for fast-food restaurant Curbside pickup from a store Buy online, pick-up in store Accelerated shift Works for now Potentially here to stay
  7. 7. McKinsey & Company 7 Have you used any of the following since COVID-19 started1 % of respondents Many consumers have discovered new shopping behaviors, and most intend to continue the usage beyond the crisis 1 Q: Since the coronavirus (COVID-19) situation started (i.e., in the past ~3 months), which of the following have you done? 32% consumers selected “none of these.” 2 Which best describes whether or not you plan to continue with these shopping changes once the coronavirus (COVID-19) situation has subsided? Possible answers: “will go back to what I did before coronavirus”; ”will keep doing both this and that I did before coronavirus”; ”will keep doing this and NOT go back to what I did before coronavirus.” Intent to continue includes respondents who selected ”will keep doing both this and what I did before coronavirus” and “will keep doing this and NOT go back to what I did before coronavirus.” 3 “New shopping method” includes curbside pickup and delivery apps. Source: McKinsey & Company COVID-19 Canada Consumer Pulse Survey 8/14–8/19/2020, n = 1,032, sampled and weighted to match Canada’s general population 18+ years 57% 47% 45% 29% 27% New shopping method3 New digital shopping method Different brand Private label/store brand Different retailer/store/website Intent to continue2 68% Consumers have tried a new shopping behavior 86% 85% 87% 70% 88%
  8. 8. McKinsey & Company 8 Value, convenience, and availability are key drivers for consumers trying new places to shop Reason for shopping at a new retailer/store/website in the past three months1 % of respondents selecting reason in top three 1 Q: You mentioned you shopped from a new retailer/store/website since the coronavirus (COVID-19) situation started. What was the main reason you decided to try this new retailer/store/website? Select up to 3. Source: McKinsey & Company COVID-19 Canada Consumer Pulse Survey 8/14–8/19/2020, n = 1,032, sampled and weighted to match Canada’s general population 18+ years 28% 19% 19% 26% 22% 19% 17% 24% 19% 4% 9% 5% 9% Better quality Better shipping/delivery cost Better prices/promotions Better value Can get all the items I need from one place Cleaner/has better hygiene measures Offers good delivery/pickup options Products are in stock More easily accessible from my home Less crowded/has shorter lines Supporting local businesses The company treats its employees well Offers natural/organic options Convenience Purpose-driven Quality/organic Health/hygiene Value Availability
  9. 9. McKinsey & Company 9 Value, convenience, and availability are also the main reasons why consumers try new brands Reason for trying a new brand in the past three months1 % of respondents selecting reason in top three 1 Q: You mentioned you tried a new/different brand than what you normally buy. What was the main reason that drove this decision? Select up to 3. “Brand” includes different brand, new private label or store brand. Source: McKinsey & Company COVID-19 Canada Consumer Pulse Survey 8/14–8/19/2020, n = 1,032, sampled and weighted to match Canada’s general population 18+ years 41% 32% 14% 11% 31% 28% 18% 11% 16% 8% 10% Products are in stock Better prices/promotions Better value Better shipping/delivery cost Larger package sizes Better quality Is available where I’m shopping Is natural/organic Supporting local businesses The company treats its employees well Cleaner/has better hygiene measures Availability Convenience Purpose driven Quality/organic Health/hygiene Value
  10. 10. McKinsey & Company 10 Source of uncovering new retailer/store/website1 % of respondents Digital channels are a key trigger for finding new places to shop, with 63 percent of respondents citing them as sources of insight 1 Q: You mentioned you shopped from a different retailer/store/website since the coronavirus (COVID-19) situation started. How did you initially come across this new retailer/store/website? Select one. Chart rebased to exclude those knew about it already and just decided to give it a try. Source: McKinsey & Company COVID-19 Canada Consumer Pulse Survey 8/14–8/19/2020, n = 1,032, sampled and weighted to match Canada’s general population 18+ years 6 28 14 21 31 Advertisement on TV/print/radio Heard from a friend/family member Proactively researched Someone talking about it on social media Advertisement online
  11. 11. McKinsey & Company 11 Masks, barriers, and cleaning procedures are most important to consumers as they decide where to shop in-store Top priorities when deciding where to shop in-store1 % of respondents for whom this criterion is the most important2 1 Q: Once restrictions lift, which of the following factors will be most important to you as you decide which of these places to visit in person? Respondents were asked to select the most important. 2 The following categories are included in each bucket: Cleaning and sanitization—increased cleaning, improved air filtration, availability of sanitizing supplies throughout the store; Health checks—customer wellness check (e.g., temperature) on entry, employees' wellness check (e.g., temperature) on entry; Masks and barriers—customers and employees wear masks, customers and employees provided masks and gloves, plastic barrier with cashier; No-contact purchasing—curbside pickup, cashierless checkout, no-contact delivery, buy online for pickup in store; Physical distancing—customer number limit, distancing in customer line, reduced employee activity during shopping hours; Store regulations—no customer product testing, one-way store aisles, special hours for high-risk shoppers. 32% 24% 18% 10% 9% 7%Health checks Masks and barriers Cleaning and sanitization Physical distancing No-contact purchasing Store regulations Source: McKinsey & Company COVID-19 Canada Consumer Pulse Survey 8/14–8/19/2020, n = 1,032, sampled and weighted to match Canada’s general population 18+ years
  12. 12. McKinsey & Company 12 Which best describes how often you are doing each of the following items1 % of respondents 1 Q: Which best describes how often you are doing each of the following items? Possible answers: “doing less since coronavirus started”; “doing about the same since coronavirus started”; “doing more since coronavirus started.” Figures may not sum to 100% because of rounding. Consumers are paying increased attention to how a company treats its employees Source: McKinsey & Company COVID-19 Canada Consumer Pulse Survey 8/14–8/19/2020, n = 1,032, sampled and weighted to match Canada’s general population 18+ years 5% 7% 8% 8% 7% 73% 76% 76% 76% 79% 22% 16% 16% 16% 14%Company’s purpose/values Retailer’s promotion of sustainable solutions Sustainable/eco-friendly products How companies take care of the safety of their employees Healthy and hygienic packaging 100% Doing less Doing moreDoing about the same Buying based on…
  13. 13. McKinsey & Company 13 Canadians intend to maintain their current level of engagement in most out-of-home activities, while increasing in social activities Consumers’ engagement with activities outside home1 % of respondents 1 Q: Did you leave your house for the following activities over the past two weeks? Chart represents the percentage of respondents who indicated that they left home at least once during the past week to do this activity. Q: For which of the following activities do you intend to leave your home to do in the next two weeks? Chart represents % of respondents who intend to leave their home to do this activity during the next two weeks. 88% 60% 49% 36% 35% 34% 26% 21% 20% 16% 13% 10% 9% 7% 6% Shop for grocery/ necessities Go out for family entertainment Visit a crowded outdoor public place Shop for non-necessities Get together with family (who don’t live in my household) Work outside my home Go to a hair or nail salon or receive other wellness treatment Dine in at a restaurant or bar Travel more than 2 hours away from home via car Get together with friends (without social distancing) Travel on public transportation Go to the gym or fitness studio Use ride-sharing service Attend a large event Travel by airplane Source: McKinsey & Company COVID-19 Canada Consumer Pulse Survey 8/14–8/19/2020, n = 1,032, sampled and weighted to match Canada’s general population 18+ years Past 2 weeks Next 2 weeks 85% 59% 37% 39% 49% 33% 24% 23% 19% 16% 14% 11% 9% 7% 5%
  14. 14. McKinsey & Company 14 Most Canadians are concerned about using shared services and going to crowded spaces Consumers’ worries about out-of-home activities in the next two weeks1 % of respondents 1 Q: How worried would you be if you were to do the following activities in the next two weeks? Possible answers: “not worried at all”; “not very worried”; “somewhat worried”; “very worried”; “extremely worried.”; figures may not sum to 100% because of rounding. 2 Level of concern is calculated by subtracting the % of respondents stating they “not worried at all” and “not very worried” from “very worried” and “extremely worried.” Source: McKinsey & Company COVID-19 Canada Consumer Pulse Survey 8/14–8/19/2020, n = 1,032, sampled and weighted to match Canada’s general population 18+ years Level of concern2 54% 50% 44% 36% 34% 35% 22% 29% 20% -1% 0% 15% 7% -5% -8% -26% -37% -32% -41%53% 51% 52% 50% 37% 30% 36% 36% 30% 27% 25% 23% 22% 19% 20% 19% 16% 14% 14% 35% 35% 29% 27% 34% 40% 32% 29% 33% 32% 30% 31% 28% 28% 25% 25% 23% 22% 19% 12% 14% 19% 24% 29% 30% 31% 35% 37% 42% 45% 45% 50% 53% 55% 55% 61% 64% 67% Go out for family entertainment Get together with friends Work outside my home Travel by car more than 2 hours away Shop for groceries/necessities Get together with family Shop for non-necessities Go to a shopping mall Rent a short-term home Go to a hair/nail salon Dine in at arestaurant or bar Stay in a hotel Use a clothing rental service Use ride-sharing service Visit a crowded outdoor public place Go to the gym or fitness studio Travel on public transportation Attend a concert, sporting event, movies, etc. Travel by airplane Not worried Somewhat worried Worried
  15. 15. McKinsey & Company 15 Have you used or done any of the following since COVID-19 started1 % of respondents 1 Q: Have you used or done any of the following since the COVID-19 situation started? If yes, Q: Which best describes when you have done or used each of these items? Possible answers: “just started using since COVID-19 started”; “using more since COVID-19 started”; “using about the same since COVID-19 started”; “using less since COVID-19 started.” Canadians have adopted new digital and low-touch activities, including curbside pickup, video chat, and telemedicine 32% 15% 12% 8% 23% 5% 11% 7% 11% 14% 6% 5% 5% 12% 6% Remote learning: myself Digital exercise machine Wellness app Telemedicine: physical 1% 5% Online fitness 3%Online streaming Video chat: personal Videoconferencing: professional 2% 3% 3% Remote learning: my children Playing online games 4% 2% Telemedicine: mental 2% 2% Watching e-sports 6% TikTok 1% Spending time outdoors 5% 18% 8% 20% 15% 9% 14% 9% 8% 34% 12% 6% 9% 9% 11% 18% 7% 3% In-store self-checkout Restaurant delivery Used deal-finding plug-ins 2% Restaurant curbside pickup 4% 2% 3% Grocery delivery 3% 1%Purchased pre-owned products 3% Purchased directly from social media 2% Personal care/grooming at home Used a new store/restaurant app Quick-serve restaurant drive-thru 5% 4% Buy online for in-store pickup 3% Store curbside pickup Meal-kit delivery Cooked regularly for myself/my family Not using Just started using Using more Using less/the same Source: McKinsey & Company COVID-19 Canada Consumer Pulse Survey 8/14–8/19/2020, n = 1,032, sampled and weighted to match Canada’s general population 18+ years
  16. 16. McKinsey & Company 16 706040 500 80 150 0 50 100 200 Telemedicine: physical Watching e-sports Telemedicine: mental Remote learning: my children Video chat: personal Videoconferencing: professional Remote learning: myself Online fitness Playing online games TikTok Digital exercise machine Wellness app Online streaming UsergrowthsinceCOVID-192 Intent to use after COVID-191 Percent of new or increased users who intend to keep doing activity after COVID-19 1 Q: Compared to now, will you do or use the following more, less, or not at all, once the coronavirus (COVID-19) situation has subsided? Possible answers: “will stop this”; ”will reduce this”; “will keep doing what I am doing now”; “will increase this.” 2 User growth is calculated as % of respondents who replied that they are new users over % of respondents who replied that they were using the product/service pre-COVID-19 (using more, using the same, or using less). Source: McKinsey & Company COVID-19 Canada Consumer Pulse Survey 8/14–8/19/2020, n = 1,032, sampled and weighted to match Canada’s general population 18+ years Canadians intend to continue some at-home habits adopted during the crisis, such as online fitness, wellness, and entertainment Works for now Potentially here to stay Accelerated shifts
  17. 17. McKinsey & Company 17 Disclaimer McKinsey does not provide legal, medical, or other regulated advice or guarantee results. These materials reflect general insight and best practice based on information currently available and do not contain all of the information needed to determine a future course of action. Such information has not been generated or independently verified by McKinsey and is inherently uncertain and subject to change. McKinsey has no obligation to update these materials and makes no representation or warranty and expressly disclaims any liability with respect thereto.

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