26June 2020

Evaluating The Impact of COVID-19 Pandemic on Consumer Behavior

COVID-19 pandemic has took over the world like wildfire. Almost half of year has gone and people are locked inside their houses. Most of them are still trying to find the ways to deal with this prolonged indoor stays. All these ongoing situations have made significant impact on the consumer behavior while purchasing products and goods. This blog will evaluate how consumer behavior is being influenced by the COVID-19 epidemic. Moreover, the students can also acquire Consumer Behavior Assignment Help from the professionals of BookMyEssay.

In almost every country of the world, consumers were observed stockpiling foods and mandatory items amid Coronavirus Pandemic. There are so many reasons that will help us understand how and when customers began showing these changes in their purchasing behavior. Many studies have been conducted to monitor these consumer trends. Here are the 6 major behavioral phases based on the knowledge and awareness of COVID-19 outspread:

Purchasing Proactive Health-Minding Products: There has been sudden increase in the purchasing of the products that are capable of maintaining health and well-being of humans.

Health Management Product: The consumers have started prioritizing the products that can prevent contamination and infection. (For e.g. Sanitizers, Face Masks, Disinfectant, etc.)

Preparation of Pantry: The purchases of shelf-safe products has increased a lot lately.

Living Preparation for Quarantined Life: The foremost sign of supply chain strain is that, people have increased online shopping of the products and store visits are decreased.

Restricted Life: There were possible signs of price gouging observed because of the limited supplies and discouraged online fulfilment.

Returning Back to Normal Life: People are conscious about their health more than ever now as they are returning back to living the normal life after this chaos.

According to the studies, there was the dramatic shift in the behavior of consumers from one stage to another in just the period of two weeks since the outbreak. You can hire assignment writing help in Sydney to learn more about this.

How COVID-19 Is Impacting Consumer Behavior?

Depending on Manufactures: We all know that most of the countries have already announced lockdowns and people are making quarantine preparations. The supply chains are strained now. All this is promoting consumers to rely more on the manufacturers. They are turning to Direct to Consumer manufacturers to buy products and goods. This is one growing segment that serves consumers directly by neglecting standard distribution channels. It effectively provides direct access to the customers.

Trust and Loyalty: The customers are majorly enticed to shop online. But both retailers and D2C manufacturers rely on trust. It is not that easy to build the trust especially in these extreme conditions. In order to build credibility and to win over trust and loyalty of the customers, it is vital to meet their expectations. Here are the major points that can help with it:

  • Provide Ease to the Transition
  • Manage To Meet the Expectations
  • Utilize Loyalty and Promo Programs
  • Foster Comfort and Customer Care

Summing Up

This would be too early to say anything about the change in consumer behavior during Coronavirus epidemic. We will learn more about it when the things will come under control. The students who are writing assignment about this can take assistance from assignment writers in Sydney.

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