Consumer confidence concerns further dampen outlook for consumer-facing companies
Consumer markets findings from PwC’s COVID-19 CFO Pulse Survey
Despite a continuing shift online, consumers still want the assurance of a safe physical environment as the recovery unfolds. In response, consumer markets (CM) companies are implementing safety measures at higher rates than companies in other industries.
View additional survey results:
Lack of consumer confidence continues to be top of mind . . .
66% say a decrease in consumer confidence and related spending is a top-three concern versus 50% two weeks ago.
What are your top 3 concerns with respect to COVID-19? (Select up to three.)*
April 8 Consumer Markets
April 22 Consumer Markets
*Highest-ranked choice from a list of 14 options.
Source: PwC COVID-19 US CFO Pulse Survey
April 8, 2020: Total base of 313; CM base of 46. April 22, 2020: Total base: 305; CM base 44
Source: PwC COVID-19 US CFO Pulse Survey
April 8, 2020: Total base of 313; CM base of 46. April 22, 2020: Total base: 305; CM base 44
. . . translating to adverse revenue projections
32% project an adverse impact on revenue and/or profit of at least 25% in 2020, versus 24% across all industries.
What impact do you expect on your company’s revenue and/or profits this year as a result of COVID-19?
All industries
Consumer markets
Source: PwC COVID-19 US CFO Pulse Survey
April 22, 2020: Total base: 305; CM base 44
April 22, 2020: Total base: 305; CM base 44
Deciphering customer demand via technology
Tech tools are a top-three supply-chain-planning priority to better understand changes in customer demand (41% vs. 30% for all sectors).
As a result of COVID-19, in which of the following areas are you planning changes to your supply chain strategy? Please select the 3 most pressing areas.*
All industries
Consumer markets
**Highest-ranked choices from a list of 10 options.
Source: PwC COVID-19 US CFO Pulse Survey
April 22, 2020: Total base: 305; CM base 44
Source: PwC COVID-19 US CFO Pulse Survey
April 22, 2020: Total base: 305; CM base 44
Back-to-work safety measures underway
86% are planning workplace safety measures (vs. 77% for all sectors) including 77% reconfiguring work sites to promote physical distancing (vs. 65% for all sectors).
Which of the following is your company planning to implement once you start to transition back to on-site work?*
All industries
Consumer markets
*Highest-ranked choices from a list of 10 options.
Source: PwC COVID-19 US CFO Pulse Survey
April 22, 2020: Total base: 305; CM base 44
Source: PwC COVID-19 US CFO Pulse Survey
April 22, 2020: Total base: 305; CM base 44
The way forward
While grappling with immediate challenges, CM companies are also concurrently shoring up their digital presence in response to accelerated online demand that could last well beyond the recovery.
