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Phase 5 Study Featured in Quirk's 'New Consumer' Newsletter

Phase 5 is pleased to share that our report, Impact of COVID-19 on Consumer Financial Services is featured in the April 28th, 2021 special issue of Quirk's 'New Consumer' newsletter. Quirk's selects content contributors who demonstrate thought leadership in consumer or market insights through articles that are timely, relevant, and valuable to their dedicated following of marketing research and insights professionals. We are proud to be included amongst such an esteemed group of industry leaders.

This special edition newsletter has been developed to help brands gain a better understanding of the new beliefs, behaviors, and changes that are taking place in the current and future economy. In addition to the pandemic, the aftermath of the US election, Brexit, and the push for racial equity have all had an impact on consumers and their habits. Quirk's aims to pull together the best sources of these insights for marketing research leaders to strategically guide their organizations.

Phase 5's featured report is based on the results of our July 2020 survey of 1,000 household decision-makers in the United States. It explores how consumers' financial behavior and outlook has been impacted by COVID-19, specifically with regards to banking, insurance, and investing. The study examines how behaviors have changed, and whether those changes are likely to last. From there, the report identifies opportunities for Financial Institutions to adjust their interactions and experiences for this new, dynamic, and frequently digital environment.

In addition to the topline report featured in the New Consumer newsletter, custom reports are available upon request to dig into specific topics, including:

  • Where are consumers looking for advice & support, or simply more communications?
  • What specific banking interactions do consumers prefer to do digitally?
  • What type and level of concerns exist about digital payments?
  • How receptive are consumers to online investing now vs. pre-pandemic?
  • Are they open to using digital channels for new FI relationships?

Feedback has been strong from clients who have received these custom reports, indicating that planning has been smoother and that they are more confidently prepared for the future. We hope to also provide the readers of Quirk's New Consumer newsletter the insights they need to successfully navigate the future for their own organizations.

Written by Steve Hansen

Steve Hansen, MBA, is the President of Phase 5 US and the leader of the firm's Data Analytics practice. With almost 2 decades of experience in client-side marketing strategy, market research, and product management, Steve brings a client’s mindset and drive for actionable results to each project. He has extensive experience in capturing the view “from the outside” with a special focus on product and service innovation. Steve is based in Minneapolis, Minnesota.