Pandemics’ Effect on Consumer Patterns (Essay Sample)
The client REQUIRED AN ESSAY focusing on the spending trends of consumers when a pandemic hits. With relevant examples, the essay explains both short term and long term consequences of pandemics on the market. As requested, Harvard formatting STYLE was used and a single source to base the arguments. It was AN urgent order that was submitted within 4 hours.source..
Pandemics’ Effect on Consumer Patterns
When diseases spread over a large population, they create uncertainty and mixed reactions that change how people live. For example, the current COVID-19 outbreak has fundamentally changed how people conduct their day-to-day affairs, limiting the number of interactions that one can comfortably engage in. Additionally, consumers or end-users tend to adopt more reserved purchasing patterns with survival rather than growth taking priority. With governments and health organizations providing guidelines on mitigating such scourges, consumer products are slowly being transformed to match the contemporary needs. The following discussion highlights the changes in consumer attitudes, behavior, and purchasing habits when pandemics occur.[Frank Ingleas, “An Account of the Contemporary Spending Habits During the COVID-19 Era” Journal Of Contemporary Living 28, no.4 (2020): 167]
At the onset of a pandemic, panic and the fear of lacking essential products drive consumers to buy in bulk. As experienced in March and October 2020, the demand for hand sanitizers, face masks, and flu medications peaked after Corona Virus became a global pandemic. Pandemics often lead to a collapse in the economy, that is, businesses are closed, government services are halted, and the banking system is reorganized to accommodate the new restrictions. In turn, consumers adopt and encourage new purchasing habits like buying locally or buying remotely through online platforms. This evolution of consumer purchasing trends has pushed businesses to adopt direct-to-customer sales that reduce costs by cutting out retailers. The COVID-19 pandemic is seemingly an eye-opener for young consumers-who make 60% of the population to make wiser decisions
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