Impact of COVID-19 on consumer behaviour
With the objective of understanding further the impact of COVID-19 in Asian countries and beyond, Rakuten Insight conducted an online survey in mid-April 2020 among 13,000 respondents equally sampled from China, Hong Kong, India, Indonesia, Japan, South Korea, Malaysia, Philippines, Singapore, Taiwan, Thailand, United States and Vietnam.
Discover some of the key findings of the report, including:
- While people spend more time watching TV news or reading news websites, the time spent on following influencers or celebrities on social media is less than usual
- Consumers everywhere increase frequency of supermarket shopping to ensure their homes are well stocked
- More emphasis placed on core product attributes such as quality, durability & price when choosing products to purchase. More developed markets like Japan, Korea & US expecting less impact in terms of these hygiene factors
- Consistently across our markets, people believe the coronavirus will impact the way we will work in the future which could be a positive amongst the gloomy economic forecasts
- Most markets believe there will be more working from home in the future which will increase family bonds. Lower confidence in Japan, Korea, Hong Kong & Taiwan that family bonds will improve as a result of telecommuting
And please reach out to us with any questions we can help get answered for you!