Survey: Chinese consumer sentiment during the coronavirus crisis

Chinese optimism has fluctuated as COVID-19 has progressed, but has stabilized in recent weeks.

More than half of Chinese consumers saw a decrease in income and savings in the last two weeks. Though consumer intent to spend is returning for some discretionary categories, consumers are becoming more mindful of their product choices and spending. Most consumers have discovered new shopping methods, or tried new stores and brands, primarily driven by convenience, hygiene, and value. Chinese consumers have accelerated their shift to online channels and have been increasingly adopting and using digital activities, such as remote learning and grocery delivery. Forty-one percent of Chinese consumers are now engaging in regular out-of-home activities; and for those who are not, they are waiting for milestones beyond the government lifting restrictions.

These exhibits are based on survey data collected in China from June 15–21, 2020. Check back for regular updates on Chinese consumer sentiments, behaviors, wages, spending, and expectations.

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