Analysis: COVID 19 impact consumer behavior (Article Sample)

COVID 19 Impact Consumer Behavior
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The world economy has been crippled since the emergence of Covid 19 pandemic. Just like other pandemics such as Ebola, Merberg syndrome and swine flu ravaged the globe, Covid 19 has resulted in loss of 3.75 million people globally (WHO,2021). This has caused steep changes in consumer behavior.
In the initial phase of the pandemic way back in early 2020, consumers responded with panic purchasing where most people were running to buy enough stocks to last the pandemic assuming it would take few months. On the contrary, over time they have ended up purchasing only essential items according to a study in India (Kumar R. and Abdin S. 2021). According to this study, the pandemic has caused a sea change in consumer behavior such that 70% of the population reduced their spending, preferred to spend on staying healthy, increased online services including education and business, 65% losses in jobs and increased migration of population to home towns for fear of spreading the disease.
Almost all states globally responded to the pandemic by giving regulations that limit movement of people. New consumer habits have been acquired. For example, the consumer does not go to the store, instead, the store comes to the consumer thanks to the new t