Survey: Over half of HongKongers spend consumption vouchers on non-durable goods

Over half (54%) of Hong Kong citizens who had received the consumption vouchers have spent mainly on non-durable goods, according to a survey conducted by Lingnan University.

Conducted between mid-October and early November 2022, the study surveyed 459 people who had received the consumption vouchers (phase II), examining Hong Kong citizens’ consumption patterns and extra spending behavior under the consumption voucher scheme 2022.

Findings showed that 54% of the respondents spent the vouchers on non-durable goods such as food, supermarket shopping, and clothing, followed by services such as dine-in, takeaway and travel services (34%), and durable goods such as electronics, furniture, jewellery, and luxury goods (12%).

Majority (64%) of the female respondents, compared to the male respondents (40%), spent more on non-durable goods than the other two categories, and 46% and 13% of the male respondents chose services and durable goods respectively to spend their consumption vouchers on.

Meanwhile, younger people aged 30 or less were more likely to use the vouchers to purchase durable goods than those aged 60 and over. It shows that respondents with a higher education or income level were more inclined to spend them on durable goods. The survey also revealed that respondents spent over HK$800 on average when using the vouchers, and the average extra spending of those who mainly purchased durable goods was more than twice that of those who spent primarily on non-durable goods and services.

The survey explained that the scheme was effective in stimulating consumer spending, and appears to have significantly boosted the consumption of specific groups such as females, and those with a higher education or income level. It was also found that the group that spent their vouchers primarily on durable goods reported a greater improvement than the two groups who spent mainly on nondurable goods and services, which shows that the scheme helped improve the quality of life of the respondents.

With regard to the economic outlook, over half (56%) of the respondents were optimistic about the Hong Kong economy in 2023, while 31% held a more pessimistic view, and 13% had no opinion. This shows that more than half of Hong Kong citizens are optimistic, despite the impact of the pandemic over the past three years, and that respondents from mainland China are more optimistic than locals.

The research team recommends that if the government relaunches the consumption voucher scheme in the future, the vouchers may be issued for use in specific categories. Furthermore, the government could refer to the scheme adopted in mainland China, where recipients receive a discount or additional vouchers if their spending reaches a certain amount. This may increase consumers’ purchasing power and boosts the economy more effectively. 

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