How are the challenges of an enduring pandemic journey shifting our priorities?
Deloitte’s Global State of the Consumer Tracker regularly polls 40,000 individuals across 18 countries (including 1,000 Irish respondents), capturing a continual snapshot of worldwide consumer sentiment.
Compared to 12 months ago, Irish people feel more introspective, and focused on personal change, well-being, and purpose. While they feel their daily lives have become more home-centric, most are seeking in-person interaction and experiences, but also signalling a clear need to rebuild social trust.
Rather than working harder to get ahead, people are more likely to feel they’re making more time to enjoy the present. With less of a focus around working harder and earning more, however, people are prioritising saving rather than spending their money to enjoy today. The lean toward saving (versus spending) is likely compounded by the financial challenges many faced over the past two years and could create headwinds for the post-pandemic economy.
Retail and recreation: How have the number of visitors change since the beginning of the pandemic?
We can get some insights on this from the data that Google presents in its COVID-19 Community Mobility Reports. Using anonymized data provided by apps such as Google Maps, the company has produced a regularly updated dataset that shows how peoples’ movements have evolved over the course of the last two years.
This data shows how the number of visitors to places of retail and recreation in Ireland has changed relative to the period before the pandemic. This includes places like restaurants, cafés, shopping centres, museums, libraries, and cinemas. This index is smoothed to the rolling 7-day average and in approaching baseline at just -3% from -20% or below at the start of 2022. As we found in our recent Mall Scene report, consumers are increasingly taking full advantage of both the retail and leisure amenities that shopping centres have to offer.