Survey Report: Impact of COVID-19 in Taiwan - September 2020
In our September survey, we found slightly fewer people with optimistic outlook and more people thinking the coronavirus situation is getting worse. What's worth noting is that people have once again changed their expectation on when life will return to normal, from end of this year (May) to May 2021 (Sept).
- Among all product categories, spending budget for medicine/health supplements, household goods and packaged foods stay on the top, but the percentage has dropped slightly. The categories hit hard by COVID-19, take dining/entertainment for example, are still facing the same difficulties.
- The youth have more optimistic outlook for the next 12 months but their budget has dropped from 11.4% (July) to 6.4% (September). Compared with the other age groups, they plan to spend much more in fashion/clothing and skincare/cosmetics.
- Since masks are still Taiwanese's daily necessities, businesses should be able to attract customers with campaigns offering relevant products.
- Since people aged between 18-29 show much more interests than other age groups in fashion services, skincare and cosmetics, businesses can target them and provide them with special offers.
- They are aware that they should avoid crowded places, use digital channels instead, and wear masks daily. To accommodate to such life style changes, businesses should revisit their old marketing/channel strategies and make necessary adjustments as the best business practice is to constantly evolve in response to consumers' needs .
Download the report here!