Consumer attitudes about personal mobility and vehicle shopping are being shaped significantly by the COVID-19 pandemic, a survey by the IBM Institute for Business Value shows.
The poll of more than 25,000 U.S. adults conducted in April indicates a shift in personal behavior and preferences across a broad range of issues.
Many consumers said they plan to reduce their use of, or forgo entirely, ride sharing and public transportation.
More than half of people surveyed who used ride-sharing apps and services said they would either use these services less or stop using them completely. A smaller share, 24%, said they no longer would use taxis and other traditional car services.
More than 20% of respondents who regularly used buses, subways or trains now said they no longer would, and another 28% said they likely would use public transportation less often.
More than 17% of people surveyed said they intend to use their personal vehicle more because of COVID-19, with about one in four saying they would use it as their exclusive mode of transportation going forward.
One-third of respondents said constraints on their personal finances will influence their decision to buy a vehicle once COVID-19 restrictions are lifted. More than 25% said a lack of confidence in the global and U.S. economic outlook will impact their decisions to buy a vehicle, with nearly the same number of people saying they would delay buying for more than six months. Additionally, consumers said manufacturer incentive programs likely would not persuade or change their thinking about buying a vehicle.
Among other survey findings:
- More than half of respondents said they are unwilling to be exposed to large crowds for the remainder of 2020 once stay-at-home restrictions are lifted. Some 75% said they likely would not attend an in-person conference or trade show in 2020.
- More than one-third of consumers indicated they will visit bars and restaurants when restrictions are removed, while about 25% said they would be ready to go to the beach and 20% would be willing to go shopping at malls and shopping centers.
- With a large share of the workforce now working remotely, nearly 40% of respondents said they feel strongly that their employer should provide employee opt-in remote work options when returning to normal operations. More than 75% said they would like to continue to work remotely at least occasionally, while 54% would like this to be their primary way of working.
While the responses suggest a dire impact on mobility, it remains to be seen whether these consumer views are long-term or whether demand for these services will return once the public-health crisis has passed.
Jesus Mantas, senior managing partner-IBM Services, says the study suggests COVID-19 is permanently altering U.S. consumer behavior.
“There are long-term implications of the new consumer behaviors for industries like retail, transportation and travel among others,” Mantas says.
“These organizations need to quickly adapt their business models to serve the new consumer behaviors in order to survive and thrive.”
