Asian consumers expect a 6-month financial hit from coronavirus, but are still spending on these things

Asian consumers are tightening their belts as they prepare for a coronavirus-induced hit to their finances, according to a new study. 

Shoppers in China, South Korea, India, Japan and Indonesia have cut back on clothing, skincare and electronics purchases as concerns mount over the outlook for incomes and savings as the pandemic rattles economies across the globe, the McKinsey report found.

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