NEW YORK, May 5, 2020 /PRNewswire/ -- Stax Inc., a global management consulting firm, recently published its analysis of a 1,946-person survey conducted across the U.S. in late April. Consumers were asked about their intent to re-engage in commerce with and without the business having established safety protocols which include employees following specific protocols and all customers adhering to specific protocols.
Stax conducted this research across 32 categories including activity/fitness, home services, homecare, retail, local transportation and travel, personal care, events, food/drinks, school, and return to offices. These categories reflect traditional commerce and many of the underpinnings of daily life that will lead to return to commerce.
The data suggests as much as a 50% jump in baseline consumer engagement (immediately after Shelter-in-Place orders are lifted) could be attributed to increased safety protocols detailed in the analysis. Commerce recovery will not be an instant rebound, but our data does show that businesses have potential to improve their situation.
While the intent to return to commerce varies widely by activity and customer segmentation even within categories (e.g., age, income, geography), the increase in intention to engage with more protocols still scales materially across categories and customer segments. Another significant jump in confidence would be delivered by increased government testing; this held true across industry, age, income, and geography.
"The data shows that the major reasons consumers mentioned for their decline in activities was a fear of getting or spreading the virus," said Stax Inc. CEO, Rafi Musher. "The major increases in engagement is noted when consumers see more protocols and government testing. For businesses and employers, having good protocols and expecting them from consumers will be a winning strategy, in health and building confidence. And the more government helps with testing, in addition to delivering critical health benefits, commerce will ultimately benefit."
About Stax Inc.
Stax Inc. is a global management consulting firm serving corporate and private equity clients across a broad range of industries including software/technology, healthcare, business services, industrial, consumer/retail, and education. The firm partners with clients to provide data-driven, actionable insights designed to drive growth, enhance profits, increase value, and make better investment decisions. Please visit www.stax.com and follow Stax on LinkedIn, Twitter, Facebook, and Instagram.
SOURCE Stax Inc.