The coronavirus outbreak has changed Asian consumers’ habits, especially in Hong Kong and China.
A trend that can be seen across markets
Survey research shows a high share of consumers claimed they prefer to eat at home more often now than they did in the pre-COVID period. The trend can be seen in several Asian markets, but is much more pronounced in China and Hong Kong:
- China: 86%
- Hong Kong: 77%
- South Korea, Malaysia and Vietnam: around 62%
In Hong Kong, players like Deliveroo are looking for ways to reduce business risk by forming new partnerships. 20 shopping malls have joined a programme launched by Deliveroo to help fulfill delivery and pick-up services. Deliveroo estimates about 300 restaurants have benefited from the programme.
Potentially reshaping the grocery industry
The shift away from out-of-home dining to at-home food delivery and cooking during the outbreak is likely to continue. This presents an opportunity for FMCG companies to reinvigorate the growth by engaging consumers for this new stay-at-home occasion. As consumers spend more time cooking at home with families, they are re-evaluating their eating habits. COVID-19 has reoriented consumer thinking and actions, which will have long-term consequences.
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