Dhaka, Bangladesh
Combating with new normal

Combating with new normal

Taskin Mustafa Choudhury

The time, the years we live is divided based upon before and after the birth of Jesus Christ i.e. AD (Anno Domini) & BC (Before Christ) . But now it seems that the era hence forth will be termed as BC (Before COVID) & AC (After COVID) Outbreak of this pandemic has shaken lives and economy all over the world. During the initial days of lockdown, everyone kept hoping that soon things will be fine and the time will arrive when everyone can move freely without worrying about getting infected. A time when people no longer would have to live a restricted life and go back to their old life. But now it seems to be a distant dream, atleast till the time either this virus gets eradicated completely or there is a vaccine for this virus. So now, everyone is trying to get accustomed to the new normal, new way of living. So what impact will this new normal have on Brands, Consumers and Market Research? The COVID period already has shown enormous impact on Brands and Consumers. This unprecedented time of crisis has overnight changed consumer behaviour. According to various data available online it is evident that Covid-19 has altered consumers' purchase decisions - the trend shows higher spends on health and hygiene products which is resulting in less spend on other products. Also consumers are preferring home deliveries so that they do not have to venture out. The current times also indicate that consumers will be more independent now for example they will prefer cooking at home over ordering from outside, ride own vehicle over taking hired cabs or undertake household chores on their own. As a result there will be a rise in products and services that make consumers more independent such as personal vehicle, washing machines, dishwashers, vacuum cleaners, cooking appliances, personal grooming appliances etc. Going forward in all likelihood people will spend less on non - essential items and save for future. This will give rise to a new mindset and the new consumer will be more prudent and pragmatic in their behaviour. It is also likely that post this dust settle down, the per capita consumption will still show muted growth for quite some good amount of time. This mindset is not going to impact the consumption alone this mindset will also have an impact on travel and real estate business. The writer is can be reached taskinmchoudhury@gmail.com

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