The media has been full of would, could, might stories on every conceivable topic during the COVID-19 pandemic.
But, according to a new study from Audience Precision, the media insights, strategy, data and technology company, the majority of Australians across all age groups remain optimistic of a post-crisis recovery.
Beauty retailers will be happy to learn that Gen Zers are the most likely to spend up big after the all-clear, even though they have been delaying purchases.
Millennials are the most likely generation to adopt a wait-and-see approach.
More than 80 per cent of babies in Australia are now born to Millennial mothers and family concerns are probably key to the finding that 40 per cent in this age group believe that the COVID-19 crisis will have an effect on their personal finances.
Gen X are the second most likely demographic to think that the coronavirus crisis will impact their finances – 38 per cent.
Baby Boomers haven’t been delaying purchases, says Audience Precision, but 36 per cent believe their personal finances could be affected.
Overall, Gen Zers were the least concerned and, together with Baby Boomers, had the highest levels of optimism about a post-COVID-19 recovery.
These results are very encouraging signs for marketers, and further highlight the real need to be ready to accommodate a surge in expenditure, said John La Rosa, head of business development for Audience Precision.