Consumer Pulse Q4 2021

More than half of respondents vaccinated

As the government kicks off the vaccination campaign, the vaccination rate is  increasing steadily: 64% of respondents said they’re fully vaccinated. Millennials (66%) and Gen X (73%) respondents have the highest increase in vaccination status (up 35 and 27 percentage points, respectively from Q3). This trend is expected to continue due to the threat of the Omicron variant.

Improvements in household finance

The percentage of consumers who reported their household income is currently negatively impacted by COVID-19 decreased to 59% from 64% in Q3 and 65% in Q1. Looking toward the future, only 46% of consumers said they expect their household income will decrease due to the pandemic. 

Consumers remained cautious with discretionary spending and savings

In contrast to the household income recovery, consumers are still cautious with spending. Half of respondents (52%) said they cut back on discretionary spending in the past few months compared to 45% in Q1, while only 17% increased their spending compared to 22% in Q1.