There are many studies surfacing and circling around the topic of consumer spending. Recently, we featured a survey done by McKinsey & Company on the impact of consumer spending in India, China, and Indonesia during and post-COVID-19.
Rakuten Insight did a study on 81,600 respondents across 12 markets, to analyze consumer sentiment around future saving and spending.
Some key takeaways that we found insightful:
- Consumers are not restricting their purchases to “food and essentials” or “things [they] really need”. More than one-third of respondents in China expressed that they plan to spend like they did pre-COVID-19.
- Less than 10% of each market’s respondents plan to increase their expenditure to “help [their] economy”.
In-store shopping still counts while e-commerce is on the rise from COVID-19. Respondents say they’ll mix their brick & mortar and online shopping as so much uncertainty continues. More than 50% of each market’s respondents are planning to shop both online and in-store in 2021.
For a detailed analysis of each market’s consumers, and insights into how consumers plan to shift their shopping behavior, check out the full report from Rakuten Insight here!
About Rakuten Insight
Over the last two decades, Rakuten Insight has remained at the forefront of consumer market research data collection in the region. Rakuten Insight’s online panels have been developed throughout 12 major Asian markets and regions, all of which are managed by dedicated local support teams and meet the highest standard of the industry.