China entered in this pandemic situation first and it seems that it will be the first country that will go out of it. Already the measures are being withdrawn and people are returning in their normal lives.
But what is normal after COVID19 and how this pandemia will affect our future "normal" lives??
China Luxury Advisors Inc. (CLA) recently conducted an online survey of Chinese consumer sentiment to measure response to the coronavirus outbreak in China. (Demographics of the survey and references are at the first picture of the article).
The interesting results of the survey are as follow:
1) 86% of Chinese consumers are planning to adjust their spending in 2020.
14% of respondents had no change to their outlook for 2020 and only 5% are planning to spend more in 2020 than in 2019. The rest 81% are planning to spend less than last year and among them 28% are expecting to make a drastic reduction in spending.
2) Self-care, stress management & healthy living will be prevailing themes in 2020.
59% of respondents plan to focus on self-care and managing daily pressure. 40% plan to focus on their health, including eating fresh foods, exercising more regularly and an overall commitment to healthier living.
38% plan to travel more in 2020 than they did in 2019.
3) Fitness and exercise will increase: both within and outside of home.
55% of respondents plan to increase home exercise and wellness and 52% plan to exercise more outside of the home or outside.
4) Social platforms, and online work and education platforms are expected to continue to outperform.
5) Healthy living, wellness and distance learning industries are expected to continue to increase, while luxury handbags, apparel and entertainment industries are likely to decrease moving forward.
6) E-Commerce will continue to expand as a result of the coronavirus
7) Travel themes of relaxation and discovering new destinations will most resonate with Chinese consumers after the coronavirus.