Global and premium brands are suffering the most from the coronavirus (COVID-19) outbreak, according to research from Accenture in their survey across 20 countries.
One-quarter (23%) of consumers say they are now spending less on global brands, while only 15% report spending more. In contrast, one-third (30%) are spending more on local brands and just 5% are spending less. National brands also see a net increase, with one-quarter (26%) spending more and 6% spending less.
Accenture also finds that 84% of those buying more locally sourced products intend to continue this after the outbreak.
Additionally, two-fifths (42%) of...