Impact of Pandemic on Consumer Behavior (Essay Sample)

IMPACT OF PANDEMIC ON CONSUMER BEHAVIOR
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According to Sheth, a pandemic is a disease outbreak that spreads across nations or continents and is more dangerous than an epidemic. Every firm often finds a shift in customer behavior as a result of a pandemic. Psychological, emotional, societal, and cultural aspects might all be considered. However, with the latest pandemic—COVID 19--businesses have witnessed a significant influence on customer behavior in general. Pandemics often result in societal and economic catastrophes, as seen by the present crisis brought about by the COVID19 epidemic. Pandemics often instill fear and anxiety in customers and have a big impact on their social behavior when it comes to purchasing decisions. Consumer behavior shifts in the event of an economic catastrophe caused by a pandemic. For instance, the changes are a result of customers being more rational, economical, demanding, and possessing expectations.[Sheth, Jagdish. "Impact of Covid-19 on consumer behavior: Will the old habits return or die?." Journal of business research 117 (2020): 280-283.] [Chaudhary, Himgiri. "Analyzing the paradigm shift of consumer behavior towards E-Commerce during pandemic lockdown." Available at SSRN 3664668 (2020).]
Sheth asserts that as recently observed the majority of consumers save their money and only spends it when they are certain that the item they are purchasing is really worth their money. Consumers are prone to disregard unneeded expenditures. Numerous economic and social implications of the epidemic, including job loss, unemployment, economic inflation, high commodity prices, and a general fall in buying power, have all contributed significantly to the shift in consumer behavior. Additionally, using COVID 19 as an example, the risk of developing sickness has influenced the population's lifestyle choices. The majority of nations implemented restrictions, including lockdowns. This further altered customer behavior, as they shifted their emphasis to the internet world, which was seen to be safer than the old method of making purchases for usage. Consumers must adjust to a new routine.[Sheth, Jagdish. "Impact of Covid-19 on consumer behavior: Will the old habits return or die?." Journal of business research 117 (2020): 280-283.] [Mohd Dali, N. R. S., H. Abdul Ha