- Most Chinese consumers expect their financial situation to improve or stay the same in the next 12 months, though one in three expects it to deteriorate.
- The majority of Chinese from top- and middle-tier cities who work in a different city have travelled back to resume work. About 20% of those from lower-tier cities remained in their home city.
- Though more young adults experienced an income decline than other age groups, they are more optimistic that their income will increase in the second half of the year.
- Since the relaxation of movement restrictions, 40-60% of consumers have been spending less than half of the pre-outbreak level on in-store shopping, outdoor entertainment, and dining out.
- About 25% spend at least 1.5x more on online shopping and home online entertainment.
Expected financial situation in next 12 months
Travel to another city to resume work
Expected income change in 2H
Change in spend vs before the outbreak