Consumer behavior shifts during pandemic

KARACHI:The coronavirus pandemic has triggered a drastic change in the purchasing pattern across the world with consumers now preferring to buy digitally rather than physically.

“Online shopping almost doubled on our app and increased further in Ramazan,” said Hysab Kytab CEO Veqar Islam at a webinar on Thursday.

He highlighted that across the world the adoption of budgeting and financial planning was growing. In 2015, the ratio of adoption had been 8%, which grew to 10% in 2017 and to a massive 29% in 2019, he pointed out.

Highlighting that women made up just 15% of the total user base of Hysab Kitab, Islam voiced hope that the proportion of females would increase in the near future because a large number of women in Pakistan prepared home budgets.

He stressed that lockdowns caused a drastic change in the buying behaviour of consumers all around the world and Pakistanis were no exception.

“One of the highest spending patterns was seen in the grocery category as the amount spent rose manifold, however, this was only temporary and is now expected to decline as consumers have stocked up groceries in bulk,” he said. On the other hand, 70% decline was recorded in the amount spent on eating out after the lockdown was imposed, he said.

According to Pakistan Telecommunication Authority (PTA), the internet usage increased 15% during the period under review.

Also present at the webinar, Hysab Kytab Global Head Yasir Ilyas pointed out that the amount spent on fuel and transport during the Covid-19 pandemic decreased 31%.

“However, the trend of mobility and fuel consumption saw an increase of 16% in the Ramazan season,” he added.

Ilyas highlighted that although ride-hailing services saw a 78% plunge in their total transactions after the lockdown was enforced, the same companies registered a 128% growth in their delivery segments.

“We are witnessing a steady upward trend in the adoption of online shopping during the present era of contactless buying,” Ilyas said. Globally, personal finance management was also on the rise, he added. The official pointed out that 12 out of 50 startups in the Forbes’ Fintech 50 were aimed at personal finance management.

According to the Forbes’ Fintech 50 for the year 2020, these 12 startups cumulatively attracted a total funding of $3.6 billion.

Published in The Express Tribune, May 15th, 2020.

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How to set a budget?
To set budget to pfm, tap on budgets then tap on ‘’create new’’ budget button. You can choose category and allocate amount for budget.
How to add a new transaction?
To add new transaction, you can tap on plus button (bottom), select transaction type, add amount, select category, select account, to add detail (optional) you can add description, tags, location, receipt etc. In case of recurring transaction set time interval.
How to filter out past transactions?
Tap on filter icon to filter out / sort transactions by category, amount and transaction type.
How to set saving goal?
To set saving goals with hysabkytab tap on create new option, name your goal, add amount, set target date, add tags (optional), choose icon (optional), tap on create saving goal option.
how does tag work in hysabkytab?
Tags work just like a sub-category in hysabkytab. For example, you added an expense transaction for rs.350, category (transport), account (cash) and you added a tag name (uber). Now you can search through your tag. To search, tap on history, tap on search bar, type your tag name (uber)
How to change personal accounts into income and expense accounts?
New hysabkytab has person account only for lending and borrowing. You can change your previous personal account into income and expense accounts. For that create a new cash account with same name, but don’t enter balance, then make a transaction of transfer (from old account to new account with initial balance).
Why hysab kytab asks for camera access?
Certain features in hysab kytab requires access to your camera/gallery for example if you want to attach receipts with transaction, or you want to post sale alerts, in those scenarios you are required to give access to your camera/ gallery.
Why hysab kytab asks for my location?
When you try using the feature of adding place to your transactions, the app requests your permission to give access to location services. If you allow the app to access these location services, you will be able to see what places you are spending your money at.
How to change a currency format?
You can adjust decimal according to your need, to change currency format, tap on left drawer (top left), tap on setting, tap on currency format (change by scrolling down)
How does reminders work in hysabkytab?
You can set reminder for any type of transaction. To set reminder, tap on left drawer, tap on reminder, tap on add button, set type, title, time, interval, date.
How to change time interval?
To change time interval, tap on money, tap on calendar icon (top right), change interval according to your choice002e
How to set 4-digit passcode?
To add extra layer of security, you can set 4-digit passcode on your hysabkytab app, to set 4-digit code, tap on left drawer, tap on setting, tap on security, set 4-digit pin.
How to create a backup on hysabkytab?
To take backup, tap on left drawer, tap on setting, tap on backup, you can either take backup on your device or google cloud.
After changing phones, how do i transfer my data from one phone to another?
you will have to create a backup on your google cloud from your old phone. If you are logged with the same google account in your new phone, you can restore the data from your google drive. Once restored, all your data will be retrieved automatically.
Cross platform backup
Hysabkytab does not support cross platform backup, you can only restore android backup to another android device only.
How to add an offer to your wishlist?
To add an offer to wishlist, tap on a book shape icon (first left below every deal) how to use search
Tap on search icon (top right)
How to apply filter on deals?
To apply filter on deal, tap on view all option (top right), then tap on filter icon (top right below the search icon), you can apply discount slider to filter percentage of discount, you can filter by price range, and brand.

How and why to set reminder on a deal?
Reminder will help you to avail a certain deal before it gets expire. You can set reminder by tapping on reminder icon, set type, set time, set interval, month, date.
Why you can see flyers in karachi only?
As it is our initial phase, flyers are only available in karachi, they will be available nationwide soon.
How to remove an offer from your wishlist?
To remove an offer from your wishlist, tap on deals, tap on wishlist icon (top right), tap on the deal you want to remove, tap on remove from wishlist option.
How to place an order for items in your wishlist?
Tap on deals, tap on wishlist icon (top right), tap on item you want to buy, tap on buy now button.
How to add review or rate a deal on hysabkytab?
To add review or rate on deal, tap on deal (you want to rate), scroll down, tap on add review option, tap on stars to rate, type comment below.
If i travel to abroad but my origin is set as my home county, will i be able to see deals of foreign country?
No, in case you are moving to foreign country, change your origin to see foreign deals. To change origin, tap on left drawer, tap on setting, tap on country.
Why to shop from hk and not directly from the website?
When you search a product on hysabkytab it searches across all our e. Commerce partner which increase your product verity and gives you most discounted product. Also you can easily add that transaction in your finance management section to keep your finance in track.