Here is a summary of the comments freshly collected from our Chinese providers and partners, figures and verbatim consumers to support.
First of all, note that the Chinese seem very satisfied with the way their government has handled the situation. Containment measures were welcomed as a way to protect oneself, but also to protect others, with a strong collective conscience, and a certain feeling of pride in respecting the instructions and recommendations of health and safety.
One of our partners admitted this morning “not having put their noses outside their home for 30 days”. A radical change in her lifestyle, because she is one of those very many “workaholics” who usually spend little time with family. But being with your husband and 2 children 24 hours a day when you’re not used to it is not that easy. Many have turned to simple leisure activities, often oriented towards personal development or a deeper search for meaning: cooking (28% *), reading and various online lessons (26% *), sport / yoga (23%, rather women *).
During this forced parenthesis, we realize the importance of family life, and of everything that money cannot buy. “I really enjoy family time with my husband and child. I realized I didn’t give enough attention to them in the past ”. Besides, the relationship with work will inevitably be turned upside down: a desire for a better pro / personal balance, the proven home office, just as effective “virtual” meetings …
So what is going to happen now?
Contrary to what was observed at the time of the SARS crisis, it is unlikely that this time we are witnessing a phenomenon of “revenge consumption post Covid-19”. Shopping, tutorials, online courses, Tik-Tok videos … 34% * have tried online health consultations, 33% * have tried online training, 29% * have tried the home office.
Experience – a key and structuring keyword of the new retail environment that will appear. As we said, many outlets have or will close; those who will survive and be reborn will be those who will be able to offer consumers ‘experiential’ shopping … A new retail brick & mortar model is to be invented – great opportunities to seize!
Beauty is probably one of the categories whose consumption will start first. Returning to the office, the need to show yourself in their best light – especially in these times of job insecurity, you will have to look good – but also to regain a form of confidence, will all be motivations to plunge back into the skin care.
The health, wellness and healthy living industry will undoubtedly be the big beneficiary of the Coronavirus. As the effectiveness of treatments against such viruses is not guaranteed, it becomes essential to act upstream.
Prevention, health improvement, strengthening of the body’s immune defenses – with an increased interest in healthier food, in traditional Chinese medicine which has been quite convincing against the virus, in food supplements, but also yoga, massages, sport …
Conversely, the big loser could be luxury. 61% * of consumers have reduced or completely cut their luxury spending, and 21% * say they want to reduce their luxury spending after the end of the epidemic.
Finally, tourism, which was hit hard during the crisis, will remain marked by the episode. When the Travel Bans are lifted, it is very likely that the Chinese will favor domestic destinations, in particular those giving pride of place to nature and the great outdoors, where they will be able to spend time with family and find a feeling of comfort and security. .
Notes to Editors: Thank you to Karen Tsai (Omnisight), Sophia Xu (Unique View) and Barry Tse (Wisdom Asia) for sharing their expert consumer views from China with June.
* WeChat study carried out between February 6 and 9, 2020, with 1,093 respondents