8 Pre-COVID19 Consumer State of Mind
Highlights of a study on consumers’ state of mind and priorities in Indonesia, Malaysia & Thailand at the beginning of 2020.
Dattel’s Consumer Intelligence team began 2020 with a study to understand the state of mind of consumers across Indonesia, Malaysia and Thailand. Our goal was to see how their state of mind and priorities change over the course of the year.
Considering the COVID-19 outbreak, this study now serves as our baseline to the upcoming longitudinal studies of COVID-19 that will be conducted between April 2020 till July 2020 to understand the possible “new normal” behaviours of ASEAN consumers.
So, let’s take a look at the highlights of the study on consumers’ state of mind and priorities in these 3 countries at the beginning of 2020.
1. Most ASEAN consumers are happy, although less satisfied with their life and household finance.
OVERALL LIFE SATISFACTION
Barely 50% are satisfied with their life.
STATE OF HAPPINESS
Almost 90% are happy.
HOUSEHOLD FINANCIAL SITUATION
Less than 31% are satisfied with their household finance.
2. Family and health are two very important aspects of their life.
MOST IMPORTANT ASPECTS IN LIFE
More than 62% indicated that family & health are very important and also their top 2 priorities in 2020.
Also, these are their other priorities.
3. Family ties matter significantly in Indonesia, Malaysia, and Thailand.
I HAVE A GOOD RELATIONSHIP WITH MY FAMILY
More than 88% maintains a good relationship.
I TEND TO IGNORE MY FAMILY WHEN MAKING IMPORTANT DECISIONS
Only less than 10% may make important decisions without family input.
4. Many are living under constricting financial circumstances.
I AM CONTENT WITH MY FINANCIAL SITUATION
Only 1/3 of Indonesians & Malaysians are content with their financial situation.
MY FINANCIAL SITUATION IS STEADY ENOUGH TO COVER MY BASIC NEEDS TO LIVE COMFORTABLY
Less than 1/2 are able to cover their basic needs.
5. They are earning enough to live on essentials, but not much more.
I DO NOT HAVE EXTRA MONEY TO SAVE FOR FUTURE OR EVERY MONTH
No extra money for monthly savings.
6. Despite their financial stresses, Malaysians and Thais still prioritise their families and treating them with food is important.
HOW OFTEN DO YOU FEEL STRESSED ABOUT YOUR CURRENT FINANCIAL SITUATION?
Almost 50% are feeling stressed several times in a month.
I HAVE ENOUGH MONEY TO TREAT MY FAMILY FOR A MEAL
More than 1/2 of Malaysians and Thais show their appreciation to their family by treating with a meal.
7. The majority are content with their job but would rather work more and earn supplementary income.
I AM WILLING TO DO SIDE JOBS OR WORK EXTRA HOURS TO COVER MY CURRENT EXPENSES
More than 1/2 are willing to do side jobs to maintain their lifestyle.
8. While the majority believe to be practising a healthy lifestyle, many are not satisfied with it.
I PRACTICE A HEALTHY LIFESTYLE
Up to 83% consider to be practising a healthy lifestyle.
I AM CONCERNED WITH MY PHYSICAL OR MENTAL HEALTH
At least 37% are still concerned.
Furthermore, you can get the full infographic by downloading it here.
For a more in-depth analysis of the study, get a copy of the full report by joining COVID-19 Insights Circle (CiC) at no cost. Additionally, get 1-month complimentary access to holistic consumer data with Dattel Voyager and other benefits, including future reports exclusively for members of CiC.
Join CiC now and discover the “new normal” behaviours of ASEAN consumers.