Longer work hours the biggest impact of Covid-19 pandemic on workers: Study

A KPMG survey with 57% millennial respondents shows the average Indian youth is way more insecure about his financial future as he adapts to the new WFH culture

While the Covid-19 pandemic had begun impacting lives all around at the very outset, the long-term effects of the disease are being felt after more than a year, on the lives of professionals and consumers, and are shaping the some of the most crucial decisions they take.

From leisure time to buying activities and securing future finances, Indian consumers are changing rapidly compared to their global peers. A recent survey by global consulting major KPMG that has 57 per cent millennial respondents shows that the average Indian youth is way more insecure about his financial future as he adapts to the new work-from-home culture.

Longer work hours impacting the most

Crucial issues related to pandemic	Share of respondents
Facing longer work hours	85%
Longer work hours impacting leisure time	56%
Longer work hours impacting shopping behaviour	36%

Financial uncertainty much higher among Indians

A.  Concerned about future finances

.	Share of respondents
Indians	70%
Globally	49%

B.  Securing future finances have become more important

# 85% are unlikely to cut savings in spite of 10% drop in income

# 30% Indians are focused on current finances, compared to 51% globally

Electronic & furniture have become crucial in WFH culture

Category

Want to own

Open to share

Comfortable with renting

Electronics 93%

4%

3% Furniture 83% 5% 13% Luxury items 62% 17% 22%
Consumers weary of stepping out for leisure

Feel uncomfortable to visit…	Share of respondents
Theatre	81%
Dine-in restaurants	40%

Indian consumers are adopting digital payments faster

Became comfortable with digital payments since the pandemic	Share of respondents
In India	49%
Globally	22%

Source: KPMG report