Consumers get more rational in quarantine days
Trend of focus on personal improvement may continue in post-virus economy
Public consumption has trended toward becoming more rational since the outbreak of COVID-19 earlier this year. But during the long period of quarantining at home without face-to-face social interactions, consumption habits and ideas have changed.
Shi Qi had a passion for luxury goods. She used to visit exclusive shops often and buy a lot of high-end items. She said she was addicted to buying branded bags and jewelry.
“I couldn’t control that desire for fancy items,” the 32-year-old said. “Every time I went to the shops of LV or Gucci, I wanted to take home a bag. I also enjoyed buying various kinds of gold and crystal jewelries.”
However, she hasn’t purchased any luxury items in recent months. “I lost my appetite to check the new products that come to market. My bags and jewelry were left alone in my wardrobe,” she said.
The isolated life at home calmed down her shopping desire. “I suddenly feel those luxury goods are unnecessary. In the past, I followed other people to buy them, but I feel I don’t really like them when I am staying at home,” she said.
A recent report from Rong360.com, a search platform offering financial services, showed the outbreak has made a significant impact on consumer spending. About 82 percent of respondents have reported lower consumer spending than usual.
More than 60 percent of respondents said they will spend money more rationally even when the outbreak levels off. Only 11 percent said they will increase their consumption, the report showed.
The top five items that the public will cut back on in the long term are tourism, offline entertainment, petrelated consumption, gifts and accessories.
Lin Huan, a college student, hasn’t worn makeup for a while since she began staying at home. Instead of dressing up carefully, she wears loose sportswear and comfortable clothing now.
“No socializing, so no need to dress up,” the 29-year-old said. “There’s even dust on my lipstick and cosmetics.”
Qiu Xiaoai, a 25-year-old makeup seller on WeChat, said the virus outbreak has created adverse times for the makeup industry. Her clients’ consumption in March was just half of January’s consumption. Makeup purchase figures became even worse in April.
“Besides not having a social life and needing to wear masks, lower salaries and concern about the future also sparked lower consumer spending.
Shift to fitness, learning
Lin Huan pays for a fitness class online and bought workout equipment, including a yoga mat and dumbbell set, for her time in quarantine at home. She follows her video classes and aims to exercise for one hour each day.
“At first I bought all of this to kill time, but I was pleasantly surprised after working out for some time,” she said. “I lost about five kilograms and look prettier now.”
She said her workout habit was formed. Now, she can’t stand imagining a life without exercise.
During her months staying at home, Shi Wen, the former luxury buyer and her husband spent more money on learning. She bought herself an online English course, and her husband purchased Japanese course.
“In this period without social life, I started to focus on myself,” Shi said. “I paid more attention to my own development needs and what is really important to me.
“Improving language skills is beneficial to my career. I didn’t used to have the resolution and patience to study after graduating from the university for many years.
My husband and I encourage each other to keep learning and hold one another accountable,” she said. “We’ve discovered the joy of learning again. It’s no less enjoyable than buying luxuries and the pleasure lasts longer.”
Deng Yu, an employee from Shanghai, said he spends moneyless impulsively in the wake of the outbreak and buys items with more practicality.
“I used to treat myself with a big dinner at fancy restaurants after work,” the 30-year-old said. “But now I tend to have some simple and fast food, like a bowl of noodles.
“My friends don’t like partying and clubbing,” he said. “But it’s not just because people want to practice social distancing. We also would feel very guilty if we had too much fun while many others across the world are finding themselves in unfortunate and challenging circumstances,” he said.
Chen Qiuhui, a 28-year-old teacher in Nanjing, Jiangsu province developed a cooking habit during her time in quarantine. Before the virus outbreak, she used to eat at restaurants and ordered delivery food before. In previous months, she stayed at home and had to cook by herself.
“I used to think that cooking was difficult and troublesome,” Chen said, “The quarantine period motivated me to learn cooking, and practice makes perfect.”
Chen has adapted to eating at home now. She buys food and vegetables online each day, and the items are delivered to her home next day.
Chen said she enjoys trying new recipes and exchanging cooking methods with her friends.
“Now I realize that cooking is full of life lessons,” she said. “I need to consider food pairing, nutrition and flavor. It gives me a sense of achievement.”
“I also feel very good about sitting at my own table and enjoying the food that I’ve cooked.” It has saved me a lot money and it’s healthier. Without the quarantine, I wouldn’t have developed this skill.”
Chen also became attracted to the idea of saving money during the outbreak. She plans to pay off her mortgage this year ahead of schedule and buy a car next year.
“The outbreak made me realize I have to prepare for uncertainties in future, including a pay cut and health costs,” she said. Chen is buying the car because she found taking public transportation during the outbreak to be inconvenient.