New Consumer Research from Alpha: Only 45% of Consumers Say That Accessing Cash is Important Right Now; Understanding How to Bes
NEW YORK , April 09 /Businesswire/ - Alpha, the research technology company that brands like Uber, Nestlé and Experian rely on to understand how changing consumer attitudes and behavior influence product innovation, today released the newest report in its COVID-19 Research Series.
The new report, available here, provides insight into changing attitudes toward personal finance and banking topics in light of COVID-19. Alpha’s research series was designed to keep businesses and media outlets informed about rapid shifts in consumers’ thinking in response to the coronavirus pandemic.
Alpha asked more than 400 adult Americans, ranging in age from 18-75 years old, a series of questions, including how often they use online banking, how important access to physical cash is to them, how concerned they are about their investment performance, where they’re getting advice related to coronavirus and economic conditions, and more.
Alpha conducted this survey over a two-day period using its rapid consumer feedback platform, which accesses a national panel of U.S. consumers to get feedback on changing attitudes and behaviors.
Alpha’s research reveals that among all the items Americans are hoarding during the COVID crisis, hard cash is less likely to be one of them. While spending has inevitably slowed, most people aren’t depleting their bank accounts and stashing money in their mattresses like they have in past recessions.
Key Findings Include:
“These findings have profound implications for how banking and financial institutions can better educate and serve consumers right now,” said Rob Holland, CEO of Alpha. “There has never been a more important time for businesses to understand how changing consumer sentiment can impact their products and services. For instance, it’s important for banks to know that many Americans are embracing online banking for the first time. This presents an opportunity for them to guide consumers on how to do their banking without visiting an actual location. They should also shift the conversation beyond long-term topics like retirement and toward immediate financial concerns like managing debt.”
Alpha’s complete research findings are available here. The company’s COVID-19 Research Series is led by Roddy Knowles, VP of Research, who is globally renowned for his contributions to the research field.
Alpha traditionally works with companies where consumer perspective and feedback continuously informs product innovation and key market decisions. Since the outbreak of the coronavirus in the U.S., Alpha has allocated resources to informing businesses and media on consumer sentiment surrounding high-priority topics.
ABOUT ALPHA
The Alpha rapid consumer insights platform connects businesses to the quick and ongoing consumer feedback they need to research, test, and optimize future products. Alpha works with companies like Uber, Nestlé, Experian and approximately one-third of the Fortune 100 to deliver consumer insight from people in their target markets within 48 hours. The Alpha platform provides testing capability that generates continuous consumer feedback loops for businesses dedicated to increasing customer-centricity in constantly shifting markets. For more information, visit www.alphahq.com.
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