US predicts a 12% drop in private consumption over the next two years, as consumer loyalty drops

New Ideas in MarketingEssential news for marketers, summarised by YouGov
September 07, 2020, 3:01 AM UTC

A recent survey by Apptopia Inc., reveals that ecommerce, retail, and grocery apps have crossed 750 million users globally.

With COVID-19 impacting businesses, consumer loyalty across the US, UK, Germany and France has shifted, as per a Periscope and McKinsey report. The US predicts a 12% decline in private consumption over the next two years.

46% of Americans and 44% of Britons have switched brands or retailers. Stock availability, competitive pricing and delayed deliveries are the top reasons for this. Consumer loyalty in the UK dropped 6%, from 34% in Q1 to 28% in Q2.

According to Apptopia Inc., new users in the US grew 21.53% and daily active users (DAU) grew 5.87%. App downloads and DAU increased by 18.68% and 2.91% in Europe.

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