The coronavirus (COVID-19) outbreak has encouraged two-fifths (40%) of consumers to be more mindful of where they spend money, according to data from McKinsey & Company.
Consumers in India (61%) and South Korea (50%) are most likely to be more mindful of where they spend money, with at least half of respondents reporting this. Spain (44%) and the UK (44%) follow while it proves less common in China (32%), Japan (29%) and France (26%).
As a result, there is some evidence of consumers changing to less expensive products in order to save money. Across all 10 countries, nearly...