“Coronavirus Pandemic Forces the Funeral Industry Online” was the top story in CNBC Business News on May 27th, referring to key findings in Foresight’s revolutionary study designed to understand consumer attitudes, perceptions and behaviors about the funeral and cemetery industry prior to, during and after the Covid-19 pandemic.
Jane Wells, a prominent reporter for CNBC news, recently interviewed Chris Cruger, Chief Operating Officer of the Foresight Companies, to discuss key findings of The Foresight Companies 2020 Funeral and Cemetery Consumer Behavior Study.
CNBC highlighted the fact that the $20 billion funeral and cemetery industry is being forced to meet the challenging desires of the customer. Wells noted that online price transparency and live-streaming of funeral services may be the norm going forward, even as the country begins to open up. She also emphasized that people are increasingly preplanning their funeral arrangements.
“The funeral industry is very much steeped in tradition,” Cruger told Wells, adding that the survey revealed that 53 % of the respondents will not do business without online transparency in pricing. Survey results also discovered that customers expect live-streaming of services and the majority don’t feel that they have to attend a service in person, but very few are willing to pay more for the extras.
The survey, conducted on May 1st and 2nd, polled 2,548 respondents from around the country, concentrating on a random sample of men and women age 45+ with an annual personal income of more than $35,000.
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