Singapore Covid-19 pulse check

ABOUT

Consumers in Singapore are optimistic about the country’s recovery from Covid-19, even as they grow more concerned about the pandemic, according to a recent survey conducted by Circles Life. 

More than half of the respondents think the crisis will “die down” within a month, and an overwhelming majority are confident in how the Singapore government has handled the situation.

The optimism stands out because more than half of respondents also said that their income has been affected to some extent.

WHY IT MATTERS

Businesses are counting on consumers to spend again as soon as Covid-19 dies down. But the reality is, its economic impact might be felt for the rest of the year, at the very least.

The seeming confidence of Singapore’s consumers is good news – it means they might empty their wallets once more as things go back to normal.

That said, Singapore remains a small consumer market. For companies with a regional interest, they might be watching Indonesia, where Covid-19 hasn’t been contained yet.

SOURCES

Data: Circles Life, Singapore Ministry of Health (MOH)
Infographics: Ivan Tan and Christine Toh
Analysis: Terence Lee. Editing: Eileen C. Ang