Consumer Reaction to COVID-19

The pandemic COVID-19 has raised many challenges by bringing the world to a health, economic and cultural crises. The changes in consumer behavior are natural and have been noticed. They are likely to shift towards safety and wellness products to keep their near and dear ones protected. Globally consumers are using digital channels, products, and services across categories.

A few observations about consumer reaction in these uncertain times are:

1. A decrease in consumer optimism levels has been observed in some parts of the world while some countries have maintained or increased the level.

2. Consumers globally expect decrease in the household income which directly affects their buying trends.

3. An increase in household category spending is observed. Consumers are spending on necessities like food, household supplies, personal care items, and home entertainment. The decrease is observed in the categories of apparel, footwear, accessories, travel, and restaurants

The industries benefited by the crisis are those related to essentials like items food and beverages, home and personal hygiene while for others, the business has come to a standstill. It’s more important now than ever to keep a track of your customers’ insights and Solugo helps you do exactly that. Read more...

See more related blogs:

https://diigo.com/0hc840