Research: 53% of US now value tech more
April 16, 2020
International research firm Parks Associates has released research showing 53 per cent of US broadband households claim that they value technology more now than before, following the outbreak of Covid-19 and the resulting social distancing and stay-at-home orders across the country.
The research, fielded between March 8th and April 3rd to US heads of broadband households, examines how consumers are reacting to social distancing and shelter-in-place orders in terms of their use of technology, their subscriptions to entertainment and security services, and their perceptions of service providers. It looks at the impact of Covid-19 on consumer employment, evaluates consumers concerns about the Covid-19 outbreak, and examines the influence of these factors on consumer electronics purchase intentions.
“2020 marks an unprecedented time in US and global history. Covid-19 has impacted global supply chains, worldwide businesses, and consumer spending,” said Kristen Hanich, Senior Analyst, Parks Associates. “It has prompted exceptional actions from regulators in terms of both public health and monetary and fiscal policy. Currently 70 per cent of US consumers report that they are following social distancing rules, and 30 per cent report that they are following shelter-in-place orders or are otherwise self-quarantining.”
The research provides insight into how consumers are responding to COVID-19, including the impact to product usage and purchase plans, service subscriptions and usage, and streaming video services. Key highlights:
- Only 28 per cent of US heads of broadband households age 75+ are self-quarantining.
- Intention to purchase consumer electronics products is at a multiyear high.
- Intention to purchase consumer electronics in the next 12 months has risen 5 per cent compared to the year prior.
- 21 per cent of heads of US broadband households report subscribing to at least one new OTT video service within the past three months.