Monday, June 15, 2020

Consumption habits will change after coronavirus pandemic, research shows

The pandemic of the new coronavirus should change consumption habits, especially in sectors related to trade and services, according to a survey by the Institute for Social, Political and Economic Research (Ipespe) commissioned by the Brazilian Federation of Banks (Febraban). Named "Febraban Observatory", the survey heard between the 1st and 3rd of this month thousand people, a sample considered representative of the adult population of all regions. According to the survey: - 46% of respondents said they should reduce the frequency to bars and restaurants after the resumption of activities; - 45% said they intend to attend less shopping malls, which have already begun to reopen in some cities of the country, despite the increase in the number of cases and deaths caused by covid-19; - 30% of respondents answered that they should buy more through the internet in the post-pandemic; - 28% said they intend to use delivery services more often; - 37% answered that they should travel less; Trade and services are among the sectors hardest hit by the economic crisis caused by the new coronavirus. Together, the two segments closed almost 779,000 formal job vacancies in March and April, according to data from the General Register of Employees and Unemployed (Caged). Entrepreneurs in the area of bars and restaurants heard by G1 report losses of up to 80% in revenue, even with the adoption of the delivery service or take out (on-site withdrawal). They claim they are being forced to reinvent the business to ensure continuity of activities and regain customer confidence in the future reopening. The research also points to caution from the banked population in relation to the rate of resumption of economic activity. To 43%, the country's economy will only recover from the effects of the pandemic after two years. Last Monday, financial market analysts cut for the 17th consecutive time the forecast for brazil's gross domestic product (GDP) change in 2020 to -6.48%. International organizations project even deeper recessions. The World Bank forecasts a drop of 8% in Brazil's GDP. The Organization for Economic Cooperation and Development (OECD) speaks of a 7.4% decline, which could reach 9.1% if there is a second wave of outbreak of the disease. The survey points, however, to a greater optimism regarding the personal and family financial situation. Almost half (49%) of the interviewees believe that private finances will return to the pre-pandemic level within up to one year.
Abras - 12/06/2020 News Item translated automatically
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