Over the last few weeks there has been a drastic change in consumers buying behavior because of the lockdown amid COVID-19. Consumers have embraced this new situation and are learning to focus on their priorities for purchase.
Consumers have started to buy more of essential commodities and cleaning and personal hygiene products and also canned food items rather than cosmetics, fashion and electronic items during this period. Nowadays consumers are focusing on more on their needs than wants.
Experts are saying that the new found changes would stay with us long after COVID-19 has gone from the world. Consumers have started to purchase foods and groceries online and are more health conscious and most of them will most probably continue to do so. They have also started to exercise within their homes both for physical and mental wellbeing.
But what is surprising is the fact that the scale of changing trends which would have taken years to progress to this level just took a couple of weeks. This new found consumer behavior is expected to outlast the lockdown period for a long period.
It is found that one in five customers above the age of fifty were online shopper and for younger generation it was found to be one in three. The online customer who does all their shopping of goods and services percentage is found to be 32% while it is expected to grow to 37% soon.
Organizations are also found to grow with this development and are adapting themselves for their survival as online means of trade will have more of a direct interaction with customer and businesses should focus more on their customers convenience and build an everlasting trust with them.
Digital growth and its usage have increased drastically irrespective of age. People are more conscious in their purchases now; they are more focused on their need than want. Also, with the lesser household income, consumers are also regulating their wants to a minimum.
The lockdown has taught us to have a healthier era of consumption and focus on our current requirements. Companies should also take all these matter into consideration both for the present period as well as post pandemic period as well.