A recent survey indicates that more Americans will be spending their time at home than ever before once the pandemic is over. As many as two in five homeowners will opt to stay in more frequently, as more financial and emotional risks continue to be presented.
The study, done by Wakefield Research for DIY security company SimpliSafe and Hippo Insurance, displayed that a whopping 42% of homeowners fall into the category mentioned above. However, it doesn’t stop there.
After polling over 1,000 U.S. homes from June 3-9, 78% reported feeling uncertain and on edge about their financial future. One in three reported that they haven’t felt this uncertain ever, even when compared to the Great Recession in 2008. This includes 39% of respondents feeling less secure compared to the beginning of the year.
Further, these same homeowners showed a trend: home is a much more relaxing and enjoyable place to work, exercise, study, and play from. A third (33%) of the survey-takers simply agreed that being home was simply more enjoyable, with another 24% reporting that it’s more convenient to work or shop from home. However, this naturally included a generational gap, when Millennials and Gen X were more than twice as likely (30-34%) compared to Boomers (15%) to agree that being home is more convenient than leaving regarding working, shopping, and relaxation.
What Does It Mean?
Matt Wolf, director of partnerships at SimpliSafe, stated that “...while changes in consumer behavior and sentiment were brought about by the pandemic, it is clear that these changes will not disappear with the pandemic. Home will continue to take on heightened importance, and so, too, will the products and services that make home a healthy, safe and protected place.”
At the beginning of the pandemic, we saw that while sales might’ve slowed, consumers wanted to feel safe. Instead of cancelling their accounts, many of these consumers have decided to continue with their security systems. Going forward, AvantGuard fully expects to see this need for security to stay.