Consumer Pulse Wave 3

After 23 consecutive days of zero new cases of local COVID-19 infections, there are signs that overall market sentiment is improving:

68% of consumers indicate that their income is being negatively affected by the pandemic, compared to 72% in week two.

7% of consumers expect their household incomes to be impacted in the future, versus 11% in week two.

63% of impacted respondents are concerned about paying their bills, versus 68% in week two.

However, employment conditions are still highly challenging: 23% (increased from 17%) of impacted consumers lost their jobs, and 58% (increased from 56%) had reduced working hours.

Communication between companies and consumers is expanding, with 43% (increased from 40% in week two) of impacted consumers asking companies they have accounts with for payment guidance. Fifty-nine percent (increased from 57%) of impacted consumers said companies have provided guidance on payment options.