covid-19 pulse survey power gbi covid … · may 1-3, 2020 update covid-19 pulse survey may 4, 2020...

May 1-3, 2020 Update

COVID-19 Pulse Survey

May 4, 2020

Global Business Intelligence

© 2020 J.D. Power. All Rights Reserved. Charts, graphs, data and insights extracted from this publication must be accompanied by a statement identifying J.D. Power as the publisher and the J.D. Power Financial Services

Covid-19 Pulse SurveySM as the source. No advertising or other promotional use can be made of the information in this publication or J.D. Power study results without the express prior written consent of J.D. Power. 2

Survey Methodology

• Surveys were conducted online among U.S. consumers aged 18 and older

• May 1-3: n=1,850 (39% male, 61% female)

31%

26%

30%

13%

18-29

30-44

45-60

> 60

Distribution by Age8%

12%

20%

18%

12%

10%

5%

2%

2%

3%

8%

$0-$9,999

$10,000-$24,999

$25,000-$49,999

$50,000-$74,999

$75,000-$99,999

$100,000-$124,999

$125,000-$149,999

$150,000-$174,999

$175,000-$199,999

$200,000+

Prefer not to answer

Distribution by Income

3© 2020 J.D. Power. All Rights Reserved. Charts, graphs, data and insights extracted from this publication must be accompanied by a statement identifying J.D. Power as the publisher and the J.D. Power Financial Services

Covid-19 Pulse SurveySM as the source. No advertising or other promotional use can be made of the information in this publication or J.D. Power study results without the express prior written consent of J.D. Power.

General Perceptions of U.S. Adults

4



In the past several weeks, how has the level of stress about your financial situation changed?

4%

10%

22%

30%

25%

9%

My stress has gone down a lot

My stress has gone down a little

My stress has not changed

My stress has gone up a little

My stress has gone up a lot

I do not have any stress about myfinancial situation

May 1-3

5



Which of the following impacts from the coronavirus have you already experienced?

35%

28%

22%

21%

16%

11%

10%

10%

7%

9%

7%

6%

5%

33%

28%

21%

21%

16%

12%

10%

9%

8%

9%

6%

6%

5%

35%

28%

22%

21%

17%

14%

12%

12%

9%

9%

7%

7%

6%

Unable to find food I need at the store

Working fewer hours

Unable to leave my house to shop for food

Temporary loss of job

Applied for unemployment benefits

Lower commission or bonus income

Unable to pay utility bills

Unable to pay rent or mortgage

Incurred an unexpected medical expense

Unable to afford enough food to eat

Permanent loss of job

You or a family member tested positive for coronavirus

Lower tips at my job

Apr 17-19

Apr 24-26

May 1-3

6



How has the coronavirus crisis impacted your personal financial situation?

9%

19%

43%

26%

2%

8%

20%

45%

24%

3%

9%

21%

40%

25%

5%

9%

21%

43%

22%

5%

9%

20%

39%

27%

6%

Devastated my financial situation

Severely hurt my financial situation

Somewhat hurt my financial situation

Has not impacted my financial situation

Has improved my financial situation

Apr 3-5

Apr 10-12

Apr 17-19

Apr 24-26

May 1-3

7



How long do you expect that your financial situation will be worse due to the coronavirus?

3%

16%

33%

25%

10%

3% 1%

9%

3%

16%

30%

27%

12%

3% 1%

7%5%

14%

28% 28%

12%

4% 2%

7%

Less than 1 month 1 to 2 months 3 to 5 months 6 to 12 months 1 to 2 years 3 to 5 years 6 or more years I don’t know

Apr 17-19 Apr 24-26 May 1-3

8




% Devastated and Severely Hurt

36%

33%

32%

27%

27%

26%

26%

24%

18%

Middle Atlantic

New England

Pacific

East North Central

West South Central

East South Central

South Atlantic

Mountain

West North Central

May 1-3

New England

Middle

Atlantic

East North

Central

West North CentralMountain

Pacific

West South Central

East

South

Central

South

Atlantic

9




% Devastated and Severely Hurt

35%

33%

29%

18%

34%

31%

30%

21%

31%

34%

28%

16%

18-29

30-44

45-60

> 60

By Age

Apr 17-19 Apr 24-26 May 1-3

45%

42%

34%

33%

22%

17%

21%

46%

37%

34%

33%

26%

18%

23%

44%

43%

30%

26%

27%

16%

21%

$0-$9,999

$10,000-$24,999

$25,000-$49,999

$50,000-$74,999

$75,000-$99,999

$100,000-$124,999

$125,000+

By Income

Apr 17-19 Apr 24-26 May 1-3

10



How has your family’s income changed since the coronavirus crisis began?

10%

15%

18%

16%

8%

30%

4%

11%

14%

18%

17%

9%

27%

4%

9%

14%

16%

16%

9%

30%

5%

Declined by 75% or more

Declined by 50-74%

Declined by 25-49%

Declined by 10-24%

Declined by less than 10%

Has not changed

Increased

Apr 17-19

Apr 24-26

May 1-3

11




% Declined by 50% or More

27%

24%

23%

23%

23%

22%

22%

17%

16%

Middle Atlantic

Pacific

East South Central

East North Central

West South Central

Mountain

South Atlantic

West North Central

New England

May 1-3

New England

Middle

Atlantic

East North

Central

West North CentralMountain

Pacific

West South Central

East

South

Central

South

Atlantic

12




% Declined by 50% or More

26%

28%

25%

15%

28%

27%

24%

16%

23%

30%

23%

11%

18-29

30-44

45-60

> 60

By Age

Apr 17-19 Apr 24-26 May 1-3

39%

32%

34%

24%

18%

10%

15%

36%

32%

30%

30%

19%

10%

15%

32%

42%

26%

24%

16%

10%

13%

$0-$9,999

$10,000-$24,999

$25,000-$49,999

$50,000-$74,999

$75,000-$99,999

$100,000-$124,999

$125,000+

By Income

Apr 17-19 Apr 24-26 May 1-3

13



Which statement comes closest to your view about the impact of the coronavirus crisis on your personal finances?

9%

28%

40%

23%

13%

24%

40%

23%

17%

22%

37%

24%

The worst is behind us

The worst is right now

The worst is yet to come

Don't know

Apr 10-12

Apr 24-26

May 1-3

14



How confident are you that you will have enough money to get through the coronavirus crisis?

11%

19%

39%

18%

9%

4%

14%

20%

39%

17%

7%

3%

Extremely confident

Very confident

Somewhat confident

Not so confident

Not at all confident

I am already out of money

Apr 24-26

May 1-3

15



Since the coronavirus crisis began, have you been unable to make the minimum monthly payment for any of these?

11%

4%

22%

5%

11%

9%

11%

61%

13%

3%

22%

5%

12%

9%

11%

59%

13%

4%

22%

6%

12%

10%

12%

60%

Auto loan

Business loan

Credit card

Home equity line or loan

Mortgage

Personal loan

Student loan

None of the above

Apr 17-19

Apr 24-26

May 1-3

16



In how many weeks do you believe stores and restaurants which have been closed due to the coronavirus crisis should reopen?

4%

4%

10%

9%

17%

5%

8%

2%

9%

1%

3%

0%

12%

16%

8%

6%

11%

11%

15%

4%

9%

2%

7%

1%

1%

2%

10%

13%

This week

1 week

2 weeks

3 weeks

4 weeks

5 weeks

6 weeks

7 weeks

8 weeks

9 weeks

10 weeks

11 weeks

12 or more weeks

Don’t know

Apr 24-26

May 1-3

17



Assuming restaurants are open, in how many weeks would you return to eating inside a restaurant?

8%

4%

11%

7%

10%

3%

7%

1%

9%

1%

3%

0%

17%

18%

This week

1 week

2 weeks

3 weeks

4 weeks

5 weeks

6 weeks

7 weeks

8 weeks

9 weeks

10 weeks

11 weeks

12 or more weeks

Don’t know

May 1-3

18



Which statement comes closest to your view on the federal government’s/state’s approach to reopen the economy?

18%

26%

45%

11%

18%

35%38%

9%

Moving too slow Moving at the right pace Moving too fast Don't know

Federal Government State


Covid-19 Pulse SurveySM as the source. No advertising or other promotional use can be made of the information in this publication or J.D. Power study results without the express prior written consent of J.D. Power. 19

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