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Covid is making NZ more responsible and saving more!
“The results showed last year’s unprecedented weeks of Covid-19 lockdown had caused Kiwis to re-evaluate their consumption priorities, lead researcher Associate Prof Leah Watkins said.
The representative survey of 1640 individuals over the age of 18 shows 57% of people report being more conscious of what they consume since last year’s lockdown.
‘‘That awareness of how much money you saved during lockdown makes you more mindful of where it is going,’’ Prof Watkins said.
Forty-three percent of people say they have reduced their consumer spending, 26% say they have reduced debt, 35% have increased saving and 24% have increased investing.
More than half, 52%, say they are shopping locally more often and 42% are doing more shopping online.
The most notable reductions in consumer spending were on restaurants, entertainment outside of the home and travel. The only category to increase was groceries, which aligns with 54% of people reporting that they have increased their home cooking. People also reported making substantial investments in their homes.
‘‘It’s not so much an overall decrease as [a change in] where they are spending,’’ Prof Watkins said.”
https://www.odt.co.nz/news/dunedin/lockdown-altered-spending-habits
If you have 30 minutes Professor Wendy Brown and Chris Hedges discusses the work of political philosopher Sheldon Wolin
https://www.youtube.com/watch?v=umi76JvPiNs
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