The Standard Chartered Bank SCB conducted a survey of young population in Pakistan to know the rate of population relying on the online shopping during the spike of COVID-19. The bank carried survey for 12,000 adults from 12 markets.
The survey found that 72 percent of the peoples think positive about online shopping specifically during the infectious disease pandemic. This trend made them more conscious about their spending and to find more reliable ways for digital spending.
Before the lockdowns 76 persons were in favor of I person shopping while 24 percent were interested in online shopping. After the pandemic the percentage has increased 37 percent who prefer online transactions.
According to country head of Retail Banking, Standard Chartered Bank Pakistan, Mujtaba Abbas:
“As per our data, online payments have increased, but there is more banks can do to help. With three-quarters of people either using or wanting to use budgeting of financial control tools, it’s imperative that banks continue to innovate digitally so that clients can easily transact, track and manage their spending in a safe and secure way.”
The fact found in the survey that the Pakistani community views the future completely cashless. The young population thinks that digital spending, online shopping and travel to digital devices is the need of the time and careful aspect as well.