"It takes 66 days for a change in behaviour to turn into a habit,” and"we are now well into the time frame for consumer behaviours learned during quarantine to become lasting habits,” the firm wrote. Analyst Stephen Ju singled out social-media companies as among those that would likely benefit from this tailwind, echoing a growing consensus that has been made elsewhere about e-commerce names.
"One of the biggest questions facing investors is ‘will it stick’ in terms of app engagement” and online purchasing behaviour, the firm wrote. The length of the lockdown is"a clear signal that the acceleration in queries, time spent, and e-commerce purchasing should be growing and hopefully accelerating from a higher baseline.” The firm cited a Google Cloud Next session for the statistic about 66 days.