Suppressed Consumption Desire to Be Unleashed After Epidemic Crisis Ends

 March 11, 2020

NANJING, March 11 (Xinhua) — Chinese people are ready to spend generously after the control for coronavirus disease (COVID-19) ends, according to a survey conducted by the consumers council of eastern China's Jiangsu Province.

The survey collected information from 21,192 questionnaires issued from February 25 to March 1 in the province. It found that 89.6 percent of the respondents expressed suppressed consumption desire for dining out and shopping as well as going to movie theaters, gymnasiums and tourist spots.

In China's nationwide efforts to curb the epidemic, citizens have been encouraged to stay home since an extended Lunar New Year holiday at the end of January to avoid infections, and stores and shopping malls have suspended operation or greatly reduced their hours. Cities also imposed various travel restrictions.

Restaurants, shopping malls, movie theaters, gymnasiums and tourist spots are the top five destinations for consumers to unleash their spending after normal life resumes, and younger generations put dining out first on their to-do list, according to the survey in the economic powerhouse of Jiangsu.

The suppressed consumption desire caused by the epidemic will also stimulate online shopping demands, as the survey finds that 44.3 percent of the consumption would be made through online channels for fresh food, new household appliances and fitness equipment, which tops the shopping list in the survey.

The survey also shows 77.7 percent of the interviewees estimate their future income to decrease to a certain extent due to the impacts of the epidemic on the economy.

The consumers council suggests the younger generations spend rationally and rein the buying spree within their consumption ability.

 

(Source: Xinhua)

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