When Is The Right Time to Reopen
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62% OF AMERICANS ARE WILLING TO WAIT UNTIL THE END OF MAY OR LONGER FOR THE ECONOMY TO REOPEN
Road to Recovery Index
When is the right time to reopen the country? In our last post, we shared the $105 billion impact in April, of current social distancing measures on consumers’ discretionary spend. And while the financial hardship that comes with this type of closure is undeniable, and is likely to get worse the longer the country is shut down, most Americans understand the importance of flattening the curve at this point.
In our research conducted last week, only 17% of Americans stated that social distancing measures should be lifted by the end of April, and 62% are willing to wait until end of May or longer.
This crisis is having a real health impact on American families, with 13% reporting that they have immediate family that has or had COVID-19 symptoms, a statistic that is even more pronounced among NY Tri-State area residents.
This is why Americans are willing to wait.
What is the impact of re-opening the economy at the end of May or even later?
Contact us for access to the Recovery Index analysis that uses actual spend data, economic data, and consumer sentiment data to provide a forward-looking view on the shape of our recovery under varying conditions.
Pi-360 | The Road to Recovery Index
As your team continues to consider your COVID-19 response, the Road to Recovery Index is the only forward-looking solution that will help you understand the current situation and plan for recovery:
- Forward-looking analysis projecting discretionary spend under shut down through recovery (overall, and by category)
- Developing innovative communication and product design strategies that optimize your trajectory coming out of this crisis
Now, more than ever, Thinking Forward Requires Context.
The Futurist Group Team
About The Futurist Group
The Futurist Group helps identify what’s next in payments, using modern technology, frictionless consumer engagement, and intelligent analytics to provide answers to the most important and forward-looking questions about the future of payments. Dedicated to the financial services space, The Futurist Group was founded by an experienced team of professionals from consumer intelligence, fintech, banking, analytics, and payments.
About Pi-360
A proprietary Product Innovation Intelligence Platform that maps and analyzes the entire competitive landscape through the lens of ongoing and structured consumer reviews. Imagine knowing everything that you need to know about your competitor’s products, emerging innovation, and consumer needs without waiting for research.
Road to Recovery Index: The best predictors of future outcomes combine behavioral and economic data with consumer sentiment. This is why we are partnering with Kantar Behavioral Payments Tracking and Pollfish to help our clients evaluate the near-term impact of COVID-19 on consumer expenditures. By combining actual spend patterns with economic and consumer sentiment data, we are creating forward-looking analytics that provide deeper context for where we are today and the path that we will need to take on the Road to Recovery.
