COVID-19 has forced the whole world to stay indoors for months, which led to a change in people’s shopping behavior. Businesses that sell non-essentials had to close and opt for a different method and different online channels.
Ever since the WHO officially announced the coronavirus as a pandemic, consumers prioritized hoarding essentials, online and in stores. Panic buyers loaded their shopping carts with medical essentials, such as hand sanitizers and masks. Moreover, people started to hoard canned goods and toilet papers. All of these items were instantly gone within weeks, resulting in a price increase.
Demographic Trends
Different demographics respond differently to the present situation concerning the pandemic:
- According to one study in the U.S., Zoomers and Millenials prioritized purchasing essentials and forgetting about general spending.
- Generation X and Baby Boomers showed less concern regarding the virus; therefore, it did not significantly impact their shopping behavior.
- When we compare women and men, data reveals that men’s shopping behavior is becoming different even if women show more concern about the pandemic.
