Consumer Buying Behaviour during COVID-19 Pandemic
Shloka Vasudeva
EXECUTIVE SUMMARY
The aim of this study is to attempt to understand the effect of the novel coronavirus pandemic (COVID-19/ SARS-COV2) on consumer buying behaviour in India. The crisis caused by the pandemic has undoubtedly wreaked global havoc and has created a very difficult business climate.
The virus was first identified in Wuhan in Hubei Province of China. WHO declared the outbreak as a pandemic on 11 March 2020. In India, the first case was reported in January 2020 in Kerala. Ever since then, the cases have been rising exponentially in successive virus waves. To restrict the transmission of the virus, the government of India declared a nationwide lockdown. This disrupted transport, logistics, work patterns and hence, lifestyle. Businesses were forced to have temporary or permanent closures owing to great losses. This gave rise to financial instability and feelings of worry and concern.
Among the lockdown and loss of jobs, the consumers were forced to change their buying behaviour and purchase patterns to adapt to the new normal. Since their purchase motives and values changed, there was a sudden and massive shift in consumer behaviour. Several studies reveal that the consumers experienced product shortages, non-availability of even essential items during the pandemic. Concerns about availability of goods and rumours about shortages gave rise to impulse and panic buying.
The fear of contracting the virus forced people to reduce their purchase frequencies and there was an increased inclination towards online platforms for shopping, payments, etc. To support the Indian businesses during such times of distress, consumer ethnocentrism emerged wherein consumers prefer domestic brands over imported ones.
Thus, this study attempts to gauge and analyze the change in buying behaviour during this period in India. It also attempts to find out the correlation between the variables influencing consumer behaviour during the pandemic to bridge the research gap. Results and findings of the study could be helpful in developing policies and marketing strategies during such situations of pandemic and lockdown.
