The pandemic has impacted virtually all aspects of our lives. Some developments have been sudden and involuntary, such as social distancing, wearing masks, stopping public transport, restrictions on travel, etc. For others, it has merely accelerated the adoption of behaviors already gaining traction, such as the digitalization of shopping, banking, and more.
By Staff Reporter | February 6, 2023 | 1300 hours
COVID-19 changing the retail consumer:
In the last three months, personal health has remained the top priority for consumers, while fear over financial security has risen. Even as restrictions lift, retail footfall remains below pre-pandemic levels, and consumer confidence in visiting public places remains low, although there are hopeful signs.
COVID-19 affect the behaviour and culture of people in an organizations:
The Covid-19 pandemic has had tremendous and swift effects on workplace culture. The global lockdown and travel bans have upended assumptions about the nature of work and corporate interactions. People have discovered that they don’t have to be in an office, that they can get most things done remotely.
Five actions can help companies influence consumer behaviour for the longer term:
- Reinforce positive new beliefs.
- Shape emerging habits with new offerings.
- Sustain new habits, using contextual cues.
- Align messages to consumer mindsets.
- Analyze consumer beliefs and behaviors at a granular level.
People’s shopping habits changed:
Although more people are starting to dine out (both indoor and outdoor) again, home cooking seems like it will stay on the menu as well. A 2021 survey showed 14% of respondents saying they planned to increase their grocery-store buying. In fact, 43% in a 2021 EY survey said they expect to cook at home more often. In addition to greater adoption of touchless payment, shoppers may also notice the usage of touchless technology in other aspects of the in-store shopping experience, Zhang says. While online shopping has gained popularity, brick-and-mortar stores are also embracing digital elements.
Pandemic has changed retail and buying Behaviours:
The COVID-19 pandemic has drastically altered consumer purchasing habits, largely out of necessity but also thanks to our evolving digital media consumption. There was a 15% jump in time spent engaging with digital media between 2019 to 2020, up to a total of nearly eight hours a day. Digital grocery sales rose 14.4% in the third quarter, but the average shopper basket contained five to six fewer items than at the same time in 2021. It’s a sign of the times: Consumers are spending more but buying fewer items.
Online shopping is not projected to slow down.
7 Consumer Trends Marketers Should Know in 2022 and Beyond:
- Consumers Relying on Product Recs from Social Communities.
- Social Media’s Growing Role as an Online Shopping Window
- Personalized Product Recommendations for Customer Loyalty
- Brands Shouldn’t Shy Away from Social Issues.
Summation:
Consumer’s gender and age contribute to consumer behaviour change. Both offline and online stores can be integrated as omnichannel rather than substitute each other. Product distribution and consumer budget need to be re-evaluated by retailers, while internet security is the most essential factor when developing their online transactions. Conclusions: COVID-19 pandemic has a significant impact on changing consumer behaviour in most countries. Retailers are encouraged to adapt to the changes by modifying their business model with technology. However, it is still speculated and cannot be generalized due to different cultural and contextual factors. Future studies are always needed to synchronize along with the transition of consumers’ behaviour.
