The Changing Consumer Behaviour Pre and Durin...

The Changing Consumer Behaviour Pre and During Covid-19: A Case of India

Author Name : Drishya Chowdhary, Dr. Manisha Raj

ABSTRACT

Consumerism is the belief that growing the consumption of goods and services purchased from the market is always a desirable goal and that the well-being and satisfaction of an individual is ultimately dependent on the acquisition of consumer goods and material goods. In terms of economics, it is related to the predominantly Keynesian idea that consumer spending is the key driver of the economy and that encouraging consumers to spend is a major policy goal. According to this Consumerism is a positive paradox that gears economic growth. In lay man’s language Consumerism refers to a phase of people living in a capitalistic economy to being in a lifestyle of extreme materialism that flows around conspicuous overconsumption. However, Consumer Behaviour is basically a study or examination of how individuals buy, use, select their goods and services to fulfil their desired wants and needs. The term consumer behaviour further refers to the behaviour of consumers in the marketplace and the motive behind the specific behaviour. This paper attempts to understand the changing consumer behaviour pre and during covid-19 talking specifically about India. Since the outbreak of Novel Coronavirus, the Indian markets have been adversely affected as a result of which the Indian consumers behaviour has taken a new direction and the change has been made on a massive scale. The period of Novel coronavirus has had the Indian consumers panic buy goods in bulk as the concern about non availability of the goods prevailed. This paper would further explore and identify the expectations, sentiments, consumer spending and behavioural change of Indian consumers before and during the Crisis.

Keywords:  Coronavirus, Consumerism, Consumer Behaviour, Consumer Spending.