Impact of Covid-19 pandemic on the consumer behavior in India

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In the midst of outbreak of Coronavirus pandemic in India, we conducted consumer behavior survey to understand the following factors:

1. Changes in consumer shopping preferences (digital v/s physical)
2. Changes in consumer's participation in sports events, concerts, watch movies in theaters
3. Changes in consumer's travel preferences (Train/Bus/Air planes)

It has been six months of Covid-19 outbreak in India. Consumers had to adopt a new normal due to a series of lock-downs, fear of corona-virus infection and many other reasons. Consumer's shopping habits have changed due to these circumstances, malls, movie theaters, sports events were not allowed to open, and most public transport like train services, interstate bus services and airlines were also not operating during the last four months. There are two possibilities (1) Life becomes normal just like last year (2) Restrictions, risk of Corona-virus will continue for a longer period (e.g. six months (Till Mar-2021 / Till - Sep-2021). Key questions for decision makers, entrepreneurs and industry people: "what will be changes in consumer behavior during the next one year, irrespective of whether new normal would continue or life would goes back to normal?".

"To understand how consumers really think and feel, it is vital to go beyond words."

Survey Results

Survey results state that most consumers' shopping habits, travel preferences and participation in music/sports events/viewing movies have changed and the change will continue for a long time.

Consumer behavior change for Shopping physically:

It is alarming to see that 51% & 64% of respondents to our survey feel that Shopping physically for groceries and other items (Not groceries) will decrease respectively.

Consumer behavior change for Going to mall, concerts, sports events

It is alarming to see that 90% respondents to our survey feel that going to malls, going to watch movies, attending concerts / entertainment events, sports events will decrease.

Consumer behavior change for Domestic & International Travel

86% respondents of our survey feel that domestic travel through Railways / Buses will decrease, 74% respondents feel domestic air travel will decrease and 82% respondents feel that International Air travel will also decrease.

Consumer behavior change for shopping digitally

It is heartening to see that 57% respondents of our survey feels that shopping groceries digitally and 64% respondents feels that shopping all other items (other than groceries like consumer goods, or industrial goods) digitally will increase.

Consumer behavior change for going to supplier/service provider/Government offices

73% respondents of the survey feel that going to supplier / service provider / government offices will decrease.

The impact of change of consumer behavior or companies, entrepreneurs, businesses & decision makers

The findings are indeed an eye opener. The result presented in this research article indicates many implications for all stakeholders of these industry sectors. If consumers feel that their going out for shopping, visiting malls, movie theaters, sports and other events would decrease, it could cause major hurdles to revenue generation, business growth and customer service levels for organized / unorganized retail outlets, shops located in malls, movie theaters, film industry, Travel companies operating buses, Airlines. However, if companies can adopt digital platforms to connect and serve their customers, it would help them to survive & grow, as customer preference would be shifting to shop digitally. It's the golden opportunity for e-businesses to serve customers, increase revenue, reduce costs & increase profit margins.

With uncertainty around, the daily lives of consumers witness some highly unique and unheard-of challenges & changes. At KgGuruji, we plan to keep a track of them by continuously engaging with consumers through surveys and diving deep into gathering intelligence, to provide the latest corona-virus pandemic trends and insights. To know more insights on the consumer behavior changes in India amidst the corona-virus outbreak and strategies for digital transformation and other competitive strategies for survival and growth of businesses / organizations, call or write.

"People shop and learn in a whole new way compared to just a few years ago, so marketers need to adapt or risk extinction."

If you wish to contribute in this Consumer Behavior research survey, please click the link Consumer Behavior Survey Form Your input will help our research team to know preferences / behavior of more consumers. Be part of vibrant community of business leaders & management experts to receive regular updates about strategies, research findings, new ideas & thoughts, best practices and news related to kgguruji.com KgGuruji Academy Facebook Page

Methodology

To explore the consumer behavior, KgGuruji relied on a Questionnaire Survey. The sample consisted of common citizens of India and Non Resident Indians with whom KgGuruji interacted a few times in the past. This research article summarizes findings with reference to the question : "What are the changes in Consumer Behavior after the Corona-virus pandemic?"

............................................................................................. This research article is authored by Ketan R. Gandhi, CEO, KgGuruji.com,