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Consumer Behaviour - Post COVID 19 Lockdown
The COVID19 pandemic has changed the psychology of the consumers across the world as the virus has touched almost all shores. Given the magnitude & the complexity of the crisis and without a proper end in sight, economic recovery is becoming difficult to predict. Even experts are baffled. Consumer behavior changes as the world retreats into a ‘survival mode’. They generally feel jittery and anxious because they feel their sense of control has disappeared.” And the more it happens the more to affects the psyche of the consumer. However, a few weeks of change do not alter consumer behavior drastically. For example - while I agree that online grocery shopping may see a spurt, it does not mean that there will be a fundamental shift in behavior Generally speaking, being healthy and health awareness has increased. There is more emphasis on hygiene, sanitation, etc. India is also affected and here is my opinion on what the behavior of the customers will be towards ...
The Black Swan of COVID-19 Outbreak creating a New Normal
We continue to flounder with the COVID 19 pandemic, flounder because we do not have a plausible complete solution for it. The scale of this pandemic has been ‘never before’. The rate at which it has been propagating has been exponential. And let’s face it there are going to be some permanent changes in our lives. Without a doubt, it is a Black Swan! A lot of people are waiting to get back to normal life! But I dare say there will be no old normal but a new normal, a different type of! Typically with every Black Swan event, there Is a huge shift in people and their behavior. With this shift in behavior, many people are wondering whether the crisis offers the world an opportunity for a more sustainable and equal(ity) path. This pandemic will result in a loss of approx. $1 trillion worldwide which means it will have a terrible effect on developed countries and a devastating effect on poorer countries even if they are not affected directly by the virus ( which is unlikely...