L.E.K. Consulting on how Covid-19 is impacting SEA consumers

Based on a survey of over 2,000 consumers in the seven largest SEA countries – India, Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam – management consultancy L.E.K. Consulting has gained detailed insight in how Covid-19 is impacting consumer behaviour. A roundup of the most notable findings.

Over seven out of ten consumers in the seven Asian economies studied are 'very worried' or 'fairly worried' that their income will by severely affected due to the Covid-19-induced downturn. Not surprisingly therefore, households plan to save more.

While consumer mobility has increased as governments eased lockdowns, post-lockdown behaviour in is still cautious. 

The significant impact on travel and tourism is expected to continue, with people avoiding travel unless necessary or travelling nearby to minimise the risk of contamination. 

Despite gains in takeout and delivery, across the board, the overall restaurant industry is set for a slow recovery.

In the real estate sector, larger-scale purchases and build-outs have been postponed or cancelled to a significant extent. 

Ecommerce is likely to continue gaining market share in the coming period until a ‘new normal’ is reached. 

In June, experts at L.E.K. Consulting conducted a similar study for the private equity industry in Asia.