How COVID-19 is Reshaping Consumer Behavior

In this video, Cowen Research shares highlights from from the Ahead of the Curve® report, There’s No Place Like Home. They discuss the evolution of consumer and stay-at-home trends in media consumption, healthcare, video games, health & fitness, groceries and restaurants. Press play to learn more.

Transcript

We released an Ahead of the Curve® Series report that discusses evolving consumer and at-home trends accelerated by COVID-19. We cross collaborated with 10 Cowen analysts across multiple disciplines, and included proprietary Cowen survey data to identify the stocks best positioned.

While a long-awaited vaccine is top of mind, the “everything-from-home” environment is driving a level or permanent change in behavior as Americans grow accustomed to new and emerging at-home online services. Permanent work-from-home employees are up 26% since 1Q20. 

Over-the-top (OTT) video adoption trends suggest about 18 million subscribers could leave the traditional Pay TV ecosystem by the end of 2024. During COVID, 80% of physicians used telehealth to see patients and 92% intend to continue to do so post-COVID. Twitch viewership is 2x pre-pandemic levels as gaming interest rises. U.S. households will have 13 connected devices by 2023, up from 8 devices today. Remote Fitness is continuously growing. We forecast 20-30% of households will own multiple fitness hardware up from single digits today. 

Online Grocery could reach 20% of grocery sales by 2025, from ~5% in 2019. The restaurant sector is evolving. “Big 4” restaurant delivery service monthly users are up 500 bps Y/Y. In the retail sector U.S. resale gross merchandise value could reach $110 billion vs. $1 billion today.

Based on a Cowen Research multi-sector report led by Greg Williams, CFA, Cowen cable & satellite services analyst.