We are looking at China, at the first good news from Italy, at some positive data in Spain… we are all hoping that this will be over as soon as possible.
Although there are many families affected, the reality is that most of us are fine. So much so that we are not aware of how lucky we are.
The economy is at a sample indonesia mobile number standstill, our income, the isolation… but you just have to try to put yourself in the shoes of the affected families and you get chills. And the next thing you know, the only way out is to start thinking that we are lucky.
And that is why our path is to consider what we can do to help (from applauding from the balconies, calling loved ones to support them, sewing masks, making donations (I leave you the link to the Red Cross , but there are hundreds of initiatives), and professionally what we are going to do to get out of the coronavirus crisis .
What will happen to the economy after the coronavirus?
Besides the health of those around us, the second thing that worries us most is the state of the economy. The questions that arise are numerous:
What will happen after isolation?
How will the markets react? And what about our pockets? Will we be willing to spend? Will our consumption habits have changed?
As a result of all this, which companies/sectors have the best future after isolation?
How will the government behave? And companies?
What will happen to the stock market? I should follow the market. After the big crash, it has been going up and down for a few days, but it has not recovered the 7,000 points.
And we could continue asking questions, but they would be nothing more than guesses.
Do we have reason to be slightly optimistic after COVID-19?
That's what we're all hoping for.
In order to try to resolve or at least shed some light on these questions, there are many consulting firms, governments, etc. studying data and trying to give the first answers.
In this regard, I found the article about the study being conducted by the consulting firm McKinsey on consumption in the Chinese market after Covid-19 very interesting .
This is a survey of 2,500 people (there are two waves so far), which attempts to measure consumer attitudes towards 8 product categories: alcohol, makeup, skin care, snacks, cleaning products, personal care, fresh food and baby care.
The results should be taken as a trend, rather than conclusive (being a survey and given the current situation it is advisable to be cautious).
The economy will recover in two or three months
I was surprised by the optimism of the responses, as 49% of respondents think the economy will rebound in two to three months and be as strong or stronger than before COVID-19.
McKinsey surveys Chinese consumers are optimistic after coronavirus
Maybe it's because the Chinese economy and government are peculiar, or because we are several steps behind China, but they seem too optimistic to me. But of course, they still seem positive to me. It's a way to start, and China is the engine of the world economy.
There is an increase in the percentage of pessimists (6%), but perhaps it is due to what they see happening in the rest of the world.
Consumer habits have changed during the coronavirus in China
What I found most interesting, and reliable given the type of question, is the variation in consumption of the aforementioned eight categories during COVID-19 and the weeks following the gradual activation of the Chinese economy.
As expected, the categories of products considered non-essential are the ones that have suffered the most. But this depends on the economic level. In the total data they say that they used 30% less skin products, but if we focus on the more affluent neighborhoods, consumption would have increased by the same percentage.