Pandemic Consumer Behavior Shift (Based On Archival Research in the form of secondary data)

Abstract

Throughout the COVID-19 pandemic, global consumer behavior has been transformed on a profoundly different scale, becoming increasingly focused on online shopping, stockpiling of essentials and a lot more of the contactless payment methods. The desire of this study was to learn about changes in consumer behavior due to the pandemic by reviewing psychological drivers such as fear, herd mentality, and media influence that were playing a role with purchasing. This research utilizes a qualitative, archival approach, examining behavioral changes from pandemic using secondary data collected from scholarly articles, industry reports, and other credible publications. The study was guided by framework for crisis driven consumer behavior, which categorized consumer behaviour based on consumer responses to panic buying, herd behaviour or discretionary spending as demonstrated in Maslow’s Hierarchy of Needs. Results showed there was much change in the preferences and behaviour of consumers that was influenced by a desire for security, the power of the media and social conformity. Both panic buying and herd mentality was seen as consumers reacted to perceived scarcity and heighted uncertainty. These behaviours were amplified through media coverage, fueling consumer fears and an urgent demand for essential goods. The analysis indicates that emergency induced, initially, may become normal behavior.

In conclusion the study highlights the fact that the pandemic will have a lasting influence on consumer behavior and the importance for businesses and policymakers to adapt to new consumer expectations as well as the evolved digital market landscape. This insight has implications for the management of a crisis, distribution of resources, and development of market strategy in the post pandemic world.