EAP 5 ASSIGNMENT COVER SHEET

Name: ……………Trần Minh Khôi….............................. I.D. 23006564

Class: EAP5-1223-10
Assignment: (please circle) Res. Report Lit. Review Res. Essay

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Due date: …..…/…..…/…………. Date submitted: 06/01/2024………….

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Trần Minh Khôi – EAP 5-1223-10 – 23006564

 TITLE
Topic: Spending Patterns
Research Report: What were the impacts of the Covid-19 pandemic on the spending habits of ISB
students?
Advisor: Dr. Stephen and Ms. Huong
Name: Tran Minh Khoi
Class: EAP5-1223-10
Date: 06/01/2024

Trần Minh Khôi – EAP 5-1223-10 – 23006564

 Table of Contents
TITLE ............................................................................................................................................ 2
ABSTRACT ................................................................................................................................... 4
INTRODUCTION......................................................................................................................... 5
METHODOLOGY ....................................................................................................................... 6
RESULTS ...................................................................................................................................... 7
1.Prior to COVID, the graph shows that the majority of their buying priorities were devoted
to their basic ............................................................................................................................... 7
2.The above graph shows the frequency of shopping these students did prior to the
epidemic. ..................................................................................................................................... 8
3.Which online shopping conveniences respondents felt were most handy for them is
depicted in the above graph. ...................................................................................................... 9
4.The pie chart in the accompanying graph illustrates how the student income changed. .. 10
5.The reason these pupils shopped online following COVID-19 is shown in the graph above.
................................................................................................................................................... 11
DISCUSSION .............................................................................................................................. 12
APPENDIX .................................................................................................................................. 14

Trần Minh Khôi – EAP 5-1223-10 – 23006564

 ABSTRACT
The research was conducted through my survey of 55 current ISB students on December 21, 2023.
The experiment, "Impacts of the Covid-19 Pandemic on the Spending Habits of International
School of Business (ISB) Students," investigated shifts in financial behaviors among 55 current
ISB students on December 21, 2023. Focused on shopping preferences, income changes, and
educational expenses, the survey illuminated a pronounced surge in online shopping attributed to
convenience and product variety. Noteworthy income fluctuations and prevalent financial anxiety
were observed. The study emphasizes the necessity for businesses and educational institutions to
adapt strategies in response to evolving student financial landscapes post-pandemic, recognizing
the significance of online platforms and addressing financial concerns for holistic support.

Trần Minh Khôi – EAP 5-1223-10 – 23006564

 INTRODUCTION
The study of consumer behavior within the context of global crises occupies a central position in
understanding societal responses to unprecedented challenges. As the world grapples with the
transformative impact of the COVID-19 pandemic, current knowledge has emerged from comprehensive
explorations into the shifts and adaptations individuals undergo in various facets of daily life.

Our understanding of consumer behavior during the pandemic has been much improved by earlier research,
which showed nuanced responses to unfamiliar obstacles and broad changes in buying patterns and lifestyle
adjustments. Still, a clear gap highlights the need for a more thorough examination of college students'
financial behaviors, especially those at the International School of Business (ISB).

Building on the groundwork established by earlier research, this study focuses only on the post-COVID-19
spending patterns of ISB students. While other studies have offered a more comprehensive picture of
consumer behavior amid global crises, the current study aims to offer insights exclusive to one
demographic: ISB students. This investigation's primary focus is on how ISB students' financial habits have
changed in response to the problems caused by the COVID-19 pandemic. Regarding changes in graduate
student spending during COVID-19, this study mainly addresses consumer behavior in the wake of global
crises, which adds significantly to our present understanding.

In addition to existing studies, the insights drawn from this research are enriched by contemporary
perspectives. Tymkiw (2021) outlines the broader changes in saving and spending habits brought about by
the pandemic, providing context to the evolving landscape. McKenzie's (2020) exploration of how COVID-
19 has impacted student spending habits further complements the narrative, offering insights into trends
that may influence ISB students.

This research aims to address this gap by honing in on the spending habits of ISB students in the post-
COVID-19 era. As existing studies have paved the way for a broader understanding of consumer behavior
during global crises, the present research seeks to shift the focus toward a more specific demographic group.
The question guiding this inquiry is straightforward: How have the financial behaviors of ISB students
evolved in response to the challenges posed by the COVID-19 pandemic? This study contributes
significantly to the current understanding of consumer behavior in the wake of global crises—changes in
graduate student spending during COVID-19—by providing insights beyond the immediate context.

Trần Minh Khôi – EAP 5-1223-10 – 23006564

 METHODOLOGY
My online survey, conducted on December 21, 2023, generated 55 responses from current students on
(ISB) campuses. Students participating in the school were part of the sample, and all enrolled students
received invitations to participate via email. Over two weeks, the survey was administered via Google's
web platform. Responses were anonymous, and participation was entirely voluntary.

Twenty questions in total, split into four sections, ask about students' spending patterns in areas that are
important to them, such as food, entertainment, transportation, housing and other costs, and other fees
before, during, and after COVID-19. Students indicated their present monthly spending for each area and
their expected monthly spending from before the COVID-19 pandemic started in early 2019. There are
four comprehensive sections to the questions. The first two questions about student survey data are
included in the first part of the survey. The second part was conducted with six questions surrounding
these student spreading patterns before COVID-19. The third part was these students' shopping patterns
during the pandemic. Lastly, the questions concern these students' spending behavior after the pandemic
ended.

The survey data was analyzed using Google statistics software. All responses were analyzed into charts
for better comparisons. This form of statistics was tested to see the spending patterns of ISB students pre-,
mid-, and post-pandemics to identify the change in buying decisions and their shopping patterns due to
the effect of the pandemic.

Trần Minh Khôi – EAP 5-1223-10 – 23006564

 RESULTS
1.Prior to COVID, the graph shows that the majority of their buying priorities were devoted to their
basic.

The graph depicts that before COVID, most of their priorities when shopping were spent
on their basic needs like food, clothes, and entertainment, as we can see from the graph, which
has the highest percentage of all of the categories in which food accounts for 81%, clothes with
an estimated for 67%, last is entertainment which poses 59%.

Trần Minh Khôi – EAP 5-1223-10 – 23006564

 2.The above graph shows the frequency of shopping these students did prior to the epidemic.

The graph above illustrates how frequently these students went shopping before the
pandemic, which shows us that most of the students go shopping once a month, accounting for
42% of the survey objective. The second highest was those who shop a few times a week, which
has a percentage of 33%.

Trần Minh Khôi – EAP 5-1223-10 – 23006564

 3.Which online shopping conveniences respondents felt were most handy for them is depicted in the
above graph.

The graph above shows us which of the conveniences of online shopping they found the
most convenient for them in the survey. Ease of shopping was the least with no survey objective
chosen, and the following variety of products was the next small pie, which accounted for 13%.

Trần Minh Khôi – EAP 5-1223-10 – 23006564

4.The pie chart in the accompanying graph illustrates how the student income changed.

As the graph above shows us, the student income changed, shown in the pie chart which
has the most significant proportion of students who have a decrease in their income, and the next
biggest are those with a stable income.

Trần Minh Khôi – EAP 5-1223-10 – 23006564

 5.The reason these pupils shopped online following COVID-19 is shown in the graph above.

The graph above depicts why these students shopped online after COVID-19. The survey has
shown that most students chose to shop online because of its convenience, cost, and time-saving.

Trần Minh Khôi – EAP 5-1223-10 – 23006564

 DISCUSSION
This study of ISB students' spending patterns after COVID-19 reveals a radical change in how this
group of people shops. The study, which examined income fluctuations, buying preferences, and
educational costs, finds a significant increase in online purchasing, explained by consumers'
perceptions of convenience and a wide selection of products. A recurring pattern of prioritizing
necessities such as clothing, food, and entertainment surfaced. Shopping frequency was centered
at once per month, suggesting a planned strategy. Notable variations in income were noted,
highlighting the financial burden on students; most saw a decline.

When these results are compared to those of Tymkiw (2021) and McKenzie (2020), a global impact
is highlighted, confirming the pandemic's pervasive influence on consumer behavior. The
significant shift to internet purchasing highlights the durability of these changes by reflecting more
significant trends found in previous studies. The pandemic's worldwide economic problems align
with the prioritization of basic requirements.

Although enlightening, the study's shortcomings restrict generalizability, such as its dependence
on self-reported data and its exclusive focus on ISB students. However, there are significant
ramifications for both corporations and academic organizations. Given the long-lasting impact of
the pandemic on consumer preferences, businesses need to modify their strategy to satisfy the
spike in online demand. Academic institutions should recognize that students encounter financial
difficulties that require comprehensive assistance.

In conclusion, this study offers insightful information about consumer behavior following the
pandemic that is useful for businesses and educational institutions. The rise in internet purchasing,
the emphasis placed on necessities, and changes in income demonstrate the intricate interactions
among variables influencing consumer behavior. These results lay the groundwork for further
investigation into the pandemic's long-term impacts and the efficacy of measures to ease financial
hardship. Companies and educational institutions can use these insights to manage the changing
environment and ensure flexible strategies and all-encompassing support for customers and pupils.

Trần Minh Khôi – EAP 5-1223-10 – 23006564

 REFERENCES LIST

McKenzie, H. (2020, December 9). How COVID-19 has changed student spending habits. The

NewsHouse.

TYMKIW, C. (2021, May 18). How COVID-19 Changed Our Saving and Spending Habits.

Investopedia.

Trần Minh Khôi – EAP 5-1223-10 – 23006564

 APPENDIX
Questionnaire: : What were the impacts of the Covid-19 pandemic on the spending habits of ISB
students?

1. What is your gender?

o Female
o Male
o Others
2. What is your age?
o Under 18
o 18-24
o 25-35
o >35
3. What was your top priorities when shopping before COVID-19?
select all that apply
Medicine
Food
Entertainment
Clothes
Technological equipment
Stuff: kitchen, clean house, ...
Health supplement
Others
4. Which type of shopping did you prefer before COVID-19?
o Online
o E-commerce platform
o Store
o Others
5. How did you spend your monthly income before COVID-19?
select all that apply
o Healthcare medicine
o Food and drinks
o Savings
o Personal caring
o Housing
o Others
6. How often did you shop before COVID-19?
o Daily
o Few times a week (2 or 3 times a month)
o Once a week
o Once a month
o Never
7. Where did you usually shop before COVID-19?
o Supermarket
o Online shop
o Market
o Grocery store

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o Others
8. How often did you spend on shopping before COVID-19?
o Daily
o Once a week
o Few times a week (2 or 3 times a month)
o Once a month
o Never
9. Which conveniences, in your opinion, came with online shopping during the pandemic?
o Variety of products
o Modern convenience
o Online discounts
o Crowd avoidance
o Ease of shopping
10. Have your education/study expenses changed since pandemic?
o Yes
o No
11. What dangers might you face when purchasing online during COVID-19?
o Spending exceeds your and your family's earnings.
o Buy needless items
o Personal information security
o The products are not as described
o Fake or low-quality merchandise
12. Had your income changed during the Covid-19 pandemic?
o Decreased significantly
o Decreased slightly
o Stable
o Increased slightly
o Increased significantly
13. Had your health-related spending (medicine, medical checkups) changed during the
pandemic?
o Decreased significantly
o Decreased slightly
o Stable
o Increased slightly
o Increased significantly
14. Did you need to use your savings to cover expenses during the pandemic?
o Used all savings
o Used half of savings
o Didn't have to use save
o Mục khác:
15. In your opinion, how has Covid-19 affected your ability to pay tuition fees?
o Yes
o No
o Not sure
16. Which type of shopping do you prefer after COVID-19?
o Online
o E-commerce platform
o Store
o Others
17. Why do you choose to shop online after COVID-19?
o Convenience

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o Saving time
o Cheaper
o Variety
o Practical experience
18. What are your top priorities when shopping after COVID-19?
o select all that apply
o Medicine
o Food
o Entertainment
o Clothes
o Technological equipment
o Stuff : kitchen, clean house,...
o Health supplement
o Others
19. To what extend has COVID-19 impacted your life?
i. Negligibly
ii. Minorly/Slightly
iii. Moderately
iv. Significantly
v. Severly
20. Has financial anxiety caused you to feel stressed, anxious or depressed after COVID-19?
o check all that apply
o Stressed
o Anxious
o Depressed
o No

Trần Minh Khôi – EAP 5-1223-10 – 23006564