According to Parks Associates, 53% of U.S. broadband households surveyed claim that they value technology more now than before, following the outbreak of COVID-19 and the resulting social distancing and stay-at-home orders across the country.
A survey fielded between March 8 and April 3 to U.S. heads of broadband households examined how consumers are reacting to social distancing and shelter-in-place orders in terms of their use of technology, their subscriptions to entertainment and security services, and their perceptions of service providers. It looked at the impact of COVID-19 on consumer employment, evaluated consumers' concerns about the COVID-19 outbreak, and examined the influence of those factors on consumer electronics purchase intentions.
"2020 marks an unprecedented time in U.S. and global history. COVID-19 has impacted global supply chains, worldwide businesses, and consumer spending," said Kristen Hanich, senior analyst, Parks Associates. "It has prompted exceptional actions from regulators in terms of both public health and monetary and fiscal policy. Currently 70% of U.S. consumers report that they are following social distancing rules, and 30% report that they are following shelter-in-place orders or are otherwise self-quarantining."
Among the findings:
- 28% of U.S. heads of broadband households age 75+ are self-quarantining.
- Intention to purchase consumer electronics products is at a multiyear high.
- Intention to purchase consumer electronics in the next 12 months has risen 5% compared to the year prior.
- 21% of heads of U.S. broadband households report subscribing to at least one new OTT video service within the past three months.