Survey Report: Impact of COVID-19 in Taiwan - June 2020

Compared with our April survey, Taiwanese women have become more optimistic about the outbreak situation. The June result indicates an increase in the percentage of people who predict the environment will continue to improve for the next 12 months. Nearly half of the respondents have rated the COVID-19 situation as not so serious, and 60% believe the situation will get better in the next 30 days.

Key findings

• Taiwanese women have regained their confidence now that the outbreak has been contained with success, and therefore their budget has significantly increased. Compared with the April survey, the June result shows a 11% of overall budget growth.
  
  
• As the pandemic starts to abate in June, women are slightly more positive about investment. Half of the respondents show their interests and 24% of them can tolerate losses.
  
  
• 60% of the young people (aged 16-19) are showing positive sentiments towards the environment in the next 12 months as they have more remarkable budget growth (16%) than older groups.
  
  

Recommendations

• While everyone starts to engage in the usual social activities, the budget on dining/entertainment has gone up remarkably and so is the travel budget. With appropriate marketing campaigns, businesses in these industries should be able to attract customers and increase sales.
  
  
• Pick your audience wisely: Focus on the younger generation and the amplifiers, the active social media users, as they have an more optimistic outlook and are more likely to increase spending.
  
  
• Everyone's regained their confidence in the market as the restrictions start to ease and the pandemic situation gets better. It would be wise to promote your investment products/services at this opportune moment since it's easier to catch the investors' eyes.
  
  

Download the report here!