Consumer behaviour in post-Covid era

The year 2020 came with many unwelcome surprises and events, COVID 19 being the worst of
them. This virus, first found in the Wuhan province of China, has found its way to every nook
and corner globally. The world economy is reeling, and most countries have registered negative
GDP in the first quarter of this year.

This pandemic has changed the world as never before; consumers' patterns and behavior have
changed fundamentally. Coronavirus has accelerated the long-term underlying trends, and it has
changed the way people shop, live-work & value things. Consumers perceive brands differently.

Following are the six aspects of life where COVID have had an impact:

1. Work: The rise in unemployment has decreased the spendable money that consumers
have. More and more people are working from home, which has led to a decrease in the
consumption of on the go goods.
2. Shopping & Consumption: The only industry that benefited from this pandemic is the e-
commerce industry. An increasing number of customers preferring to order online than
going out to buy goods has helped this industry grow exponentially in the past few
months. The way people buy both online and offline has also changed. Most people now
prefer to buy in bulk rather than in small quantities because they don't want to be exposed
to the risk of getting infected by going out again and again.
3. Learning: E-learning has seen tremendous growth due to this pandemic. A large number
of people are going for online courses. Colleges have started their first terms online. A
whole online infrastructure is built to facilitate the same, and it is predicted to be
continued in the future, not in the same sense, but in some form or other, this E-learning
will thrive.
4. Communication and entertainment: Digital entertainment and digital media of
communication found its feet in consumers' minds, but this virus has accelerated this. A
large number of people have moved on to the digital platform for entertainment. As a
response to consumers' changing behavior, the media houses have started premiering
their movies on OTT platforms.
5. Travel and mobility: Travel was impacted the most, with millions of people losing a
livelihood. Due to the pandemic, people have stopped traveling both international and
domestic. Domestic travel is starting with time, but it will take a lot of time before
international travel picks up the pace.
6. Health & wellness: With an increase in the demand for sanitizers, face masks, and
protective equipment, people have started investing more money for health and wellness
purposes. Physical fitness is trending with an increased demand for organic, natural, and
fresh food items.

Younger consumers and people having lower incomes are tending towards decreasing their
spendings on non-essential items. While people with higher incomes and older adults are willing
to continue their spendings the way, they used to.