Macau Social Services Coordination Office conducts survey on online shopping

Publish Date: 09-Feb-2021

S.K.H. Macau Social Services Coordination Office was sponsored by the Macao Foundation to conduct a survey on online spending habits and financial management skills among university students and young people in Macau. Findings of the survey were announced on 11 January. Mr Ip Kam-po, the Service Coordinator at the Coordination Office, said the survey helps them understand the life goals and financial planning among university students and young people in Macau. The project also reminded young people to avoid overspending and impulsive spending as well as using their mobile apps to record expenses. The youth were also advised to be aware of traps of fraud and money lending.

A total of 394 university students and 279 young workers in Macau responded to the online survey held between September and October 2020. Findings of the survey showed that over 60% of the respondents thought that their overall expenses increased because of online shopping and that nearly 50% of the respondents spent more than two hours every day on shopping apps. Macau Social Services Coordination Office reminded the young people to be aware of their spending patterns and avoid relying on shopping as a measure to relieve their stress. It suggested to the young people that they should make life and financial plans early.

The survey also found that 36.5% of the university students and 53.8% of the working youth responded to the survey had a fixed amount of monthly savings. The financial positions of the surveyed are relatively healthy. Some 80% of the respondents always or sometimes, had money left over and that only 6.3% of the university students and 4% of the working youth surveyed had overspent. Among those who overspent, some tapped into their savings or borrowing money from others. A small number of them applied for credit card overdraft, invest in stocks, or gambled to make money.