Consumer Habits Shift in Response to Covid-19

Covid-19 has altered the world forever. How we think, work and adapt to the new norm. As we resume some sense of normalcy, what are the notable shifts in people’s attitudes? According to DDproperty’s Thailand Consumer Sentiment Study, 1% of the just shy of 1,000 interviewed respondents said Covid-19 had not affected them in any way.

However, this sentiment is certainly in the minority as many have altered their living habits. 66% said they would avoid crowded areas, 42% would shy away from dining out, and 14% have reduced the number of leisure activities they partake in.

These figures suggest a sizeable difference in behaviour, reinforced by the statistic that 31% of respondents still have concerns over Covid-19 as their friends and family have been affected by the virus.

The pandemic has thrust health into the limelight and the ability to balance work and home life. 63% of respondents cited the Covid-19 outbreak has brought about awareness of maintaining a healthy lifestyle, while over half value the importance of a hybrid office and working from home model.

Coincidentally, property buyers’ priorities have also shifted. Access to facilities has become important in achieving a healthy lifestyle and enabling people to spend time with their families.

Since shopping habits have changed and nearly 60% of respondents now shop for their groceries online, this trend is reflected in property purchases too. Over 50% of respondents would also be happy to view properties online, increasing our reliance on the virtual world.

Property agents should take heed of these figures as it is a consensus shared amongst all age groups, with around 40% of those interviewed also stating that they would attend a property expo online. However, once a sale has been agreed, there is a reluctance to close the deal online, as only 5% state they would be happy to go down this route.

Lastly, as Covid-19 has ramped up health awareness, most Thais want easy access to hospitals, and nearly 50% want a location near a pharmacy. 60% also stated that features such as ventilation and natural lighting, amenities and distance to the mass transit network will continue to be considerations when looking for a property even as Covid-19 evolves into an endemic.