Post Covid – How a Consumer Behave?

The world is passing through the toughest of times. A Small virus has made the world standstill. All media, mainly social media, is flooded with scary images from all parts of the globe. We are staring at an apparent economic downturn. A vast majority of the population, especially in developed nations, face a threat to their physiological needs(Maslow’s Need Hierarchy Theory) for the first time in their life, which has triggered the ominous panic buying. Lock down, social distancing, etc. have become buzz words of today. We are all expecting a New Normal post-Covid. What will happen to consumer behaviour? How will the brands respond?

I feel the New Normal will stay forever, and the change seems to be irrevocable. However, brands have started responding to the change. Opportunity lost for someone is gain for others. I wonder the speed at which brands have tweaked their product portfolio by including sanitizers and hand-washes in the kitty. The emergence of Zoom and other platforms have portrayed a different dimension of consumer adoption. Post-Lockdown, face masks, sanitizers, etc. may act as crowd pullers for small/ Kirana shops(a shift from cigarettes, recharge coupons, etc.). We are not sure when the government will lift the lockdown. But for sure, there will be a surge in usage of online platforms like Amazon, Flipkart, Swiggy, etc. that helps in social distancing. The automobile sector may fare well as consumers avoid public transport and rely on their vehicles. However, the most exciting and crucial fact is the shift in consumer behaviour as such.

I predict three types of consumer behaviour.

Liberated Buyer:- You can see liberated buyers immediately after lifting of lockdown. The consumer enjoys freedom after a long time, and he now focuses on individual habits. Besides, alcohol or tobacco, the consumer was missing a lot of his pet habits. He may be missing a tea from his favourite shop or may be missing a Pizza, Burger, etc. Moreover, he may have postponed purchase some necessities like inner garments, natural beauty products, visit a beautician, etc. which had frustrated them. In some families, this lockdown may be a revelation to buy/change some kitchen utensils, or some consumer durables. This buying can lead to a sudden surge in economic activity. But availability may be an issue for at least some products. This behaviour is shared among all consumers, even though wallet-size decides the extent of purchase.

Responsible Buyer:-  The consumer accepts reality and become more accountable. There exist a self-imposed austerity. Health and hygiene get a more significant share of wallet. Since lockdown can happen anytime, there will be a demand for large-volume packs and, in some cases, sachet packs. Sanitizers, hand washes, immunity supplements, health drinks, etc. are considered inevitable by these buyers. The consumer always makes a planned purchase and stay away from impulses(read impulsive buying). They also strongly reappraise their priorities.

Normal Buyer:- The Buyer shows a very regular buying pattern. They tend to buy everything, not restricting themselves to necessities. They are less concerned about their wallet and spend more time window shopping. They are least bothered about the pandemic or any other issues. Moreover, for them, things are the same as before. I presume this group of consumers is tiny in size.

These are just my anecdotal observation. For sure, consumer behaviour will change, and the future will take its due course.