Representatives of Polish companies do not believe that consumers are changing during the pandemic and do not intend to verify their knowledge on this subject – according to the Kantar Global Business Compass survey.

The Kantar Global Business Compass survey is a project aimed at determining how companies are coping during the pandemic and is the business version of the Covid Barometer project, which Kantar has been running globally among consumers since the beginning of the pandemic. This time Kantar asked its clients, representatives of both global and local companies, for their input. In total, we surveyed 4,500 respondents in 70 countries in mid-2020. In Poland, we conducted 94 interviews. The research sample should certainly not be treated as representative, but some comparative observations may say something about the specific approach of representatives of companies in Poland compared with those from other countries.

Shared anxiety

Anxiety and concerns of Polish companies

55% of business representatives in Poland are concerned about companies' results in 2020. They are mainly afraid of recession, financial consequences, and delays in important business decisions. More than 80% of entrepreneurs declare that their companies suffered because of the lockdown at the beginning of the pandemic; currently this indicator has fallen somewhat, but 68% of respondents still state that the effects of the pandemic are severe for their companies.

State aid below expectations

Respondents in Poland rate state financial aid somewhat lower than the average across all surveyed countries, 21% positive ratings in Poland vs. 29% globally. And a larger number of them (32%) believe that state aid is insufficient (20% globally).

Openness to changes in the business model and cuts in investment

Reorganization instead of investment

Covid-19 and entrepreneurs — what follows from the Kantar survey?

Covid-19 and entrepreneurs — what follows from the Kantar survey?

Polish company representatives, much more often than global ones, took actions aimed at changing production to better adapt it to new market conditions, 44% in Poland vs. 19% globally. More than half of them used new e-commerce solutions (56%). This result is comparable to the global one. However, much more often than globally, companies in Poland decided to suspend investments (51% in Poland vs. 40% globally) or reduce marketing activity (62% in Poland vs. 37% globally).

Insufficient interest in the consumer

The consumer in the shadow of the pandemic

Despite the business effects of the pandemic they feel, company representatives in Poland are much less likely than globally to take an interest in new consumer behaviors and changes in consumption patterns (49% in Poland and 74% globally). Paradoxically, only 67% of respondents from Poland believe that consumer habits are changing under the influence of the pandemic; globally, 90% of respondents think so. A lack of knowledge about the consumer and a relatively lower willingness than in the world to gain knowledge about them is like "breaking the thermometer" to deal with a high fever.

Business in Poland is prepared for change and there is no shortage of bold moves, but this positive energy should much more often be accompanied by knowledge and analysis of consumer attitudes.

Summary

Polish entrepreneurs fear the effects of the pandemic, and 55% of them look with concern at this year's results. More than 80% of companies suffered because of the lockdown, and 68% declare severe effects of the crisis. More often than globally, they cut investments and limit marketing, but they are more willing to transform production and implement e-commerce. The Kantar paradox is revealed in ignoring the consumer: only 49% of Polish respondents are interested in their changes, while globally it is 74%. A lack of such knowledge may weaken the effectiveness of actions in the coming months.