COVID-19 Vaccine Impact - Key Trends for CPG's & Retailers

SUMMARY

COVID-19 VACCINE UPDATE: IMPACT ON CPG INDUSTRY

This report examines the recent COVID-19 vaccine updates and analyzes general consumer sentiment towards the vaccine. It also covers the implications of the vaccine on CPG manufacturers and retailers and makes mobility forecast scenarios for 2021.

Observations:

• 3% of the U.S. population has received at least one dose of the vaccine as of January 10, 2021.
• As of January 10, 39% of the total population plans to get the vaccine as soon as it’s available, a +6% increase in less than a month (December 11–13, 2020).
• High-income, highly educated and older consumers are the most eager to receive the vaccination. Low income, less educated and younger consumers are less interested in the vaccination.

Opportunities:

• Until infections stop or herd immunity takes hold, consumers will keep their guard up.
• Consumer mobility, a key factor in at-home versus away-from-home consumption, will likely increase in early to mid-2021 as vaccine distribution accelerates.
• Drug stores and other retail pharmacies will need to promote the safety and convenience of getting vaccines at their stores.

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