The unprecedented situation of COVID-19 has made people, as well as leaders across the world, take unprecedented decisions. The ongoing coronavirus induced lockdown has altered consumers' purchase decisions/preferences.
In post-COVID India, people would spend more on health and hygiene products, adapting to limited product availability, and preferring home deliveries over store visits. Though preferences have never been easy to change; they are stubborn and often least affected by marketing communication pleas.
Consumer behaviour is influenced deeply by cultural factors. We are a social community with a high need for group activities - travel, tourism, shopping, religion, and entertainment. According to a survey, overall spending intent is down across the country, but more categories are showing positive trends. While spending on staples and stay-at-home entertainment has always been elevated, spending on other categories such as food takeout and delivery, snacks, personal care, skincare, non-food baby products, fitness and wellness, and gasoline is slowly picking up in regions that are emerging from the crisis.
In India, natives relatively are more optimistic but still have slightly more consumers who intend to decrease spending than increase spending.
Let's see how would people like to spend their money when the lockdown will be entirely lifted:
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It is observable from the graph that intends to spend more on categories such as snacks, food takeout and delivery, and non-food children’s products remain high. As consumers will return to work, more categories are trending up, including spending on gasoline.