SINGAPORE — The majority of those who spent on leisure activities during the pandemic splurged on online shopping, but that’s likely to change in the next six months as COVID-19 curbs ease and amid rising inflation.
About 46 per cent who shopped online during the pandemic intend to reduce spending in the next six months, according to a ‘Spending Shifts In Entertainment/Leisure’ study by market research firm Milieu Insight.
The study surveyed 1,000 respondents between 16 and above 55 years old in Singapore in April, with the majority earning gross salaries of between S$2,000 and S$7,999.
The top pandemic leisure activity was online shopping, followed by spending on video streaming, then social activities, the study said.
The early days of the pandemic had seen a rise in video streaming subscriptions, home exercise — anything to keep extended time at home as bearable as possible.
About 41 per cent of respondents invested in a video streaming platform, such as Netflix and Disney+ during the pandemic, while 37 per cent engaged in pandemic social activities, which include hanging out with friends.
Over half of the respondents stated that the leisure activities they engaged in helped them to cope with negative emotions such as boredom and stressed.
Overall, about 73 per cent of respondents said that their overall spending increased in the past six months.
However, with the easing of COVID restrictions, some people are getting out of their homes more to travel and shop in physical stores, the study said.
In the next six months, 55 per cent of respondents who had splurged on staycations during the pandemic plan to reduce spending on this aspect, while 45 per cent of those who spent on online gaming intend to cut back.
The majority of respondents said the reason for trimming back is to cut spending, while some 25 per cent said the product or service had become more expensive. Only 19 per cent said that they did not need the products or services anymore.
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