Global and premium brands see biggest cuts in consumer spending

Rob Clapp

An overview of changes to consumer spending on local/national/global and budget/mid-range/premium brands during the coronavirus (COVID-19) outbreak.

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...

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