Consumerism to Minimalism:

Has Covid-19 Induced a change?

Shivam Kohli
Himachal Pradesh, India
 • Introduction
• Consumer Sentiments during Covid-19
• Shift in Consumer Needs

Topics to
• Searching for Information
• Criteria for Evaluation of Alternatives

be Covered • The Purchase Decision

• Motivated Behaviors due to Covid-19
• The New Normal: Indian Consumer Behaviors Post
Pandemic

Consumerism to Minimalism: Has Covid 19 Induced a change?

Introduction

Warnings before the Covid-19

• Gates (2020) emphasized the immediate danger of any Pandemic.

• Global Preparedness Monitoring Board (2018) highlighted how various implications due
to a prospective pandemic which might disrupt the global economy leading to change in the
consumption behavior of consumer across the globe.

Consumerism to Minimalism: Has Covid 19 Induced a change?

 Consumer Behaviour

Decisions to search, acquire, use, evaluate and further dispose of the

products is known as consumer behavior (Valaskova et al., 2015).

Impacted by factors like family background, personality, and perception of a

consumer (Engel et al, 1982) & external factors such as societal, cultural,
economical etc

Consumerism to Minimalism: Has Covid 19 Induced a change?

Consumer Sentiments during Covid-19

Source:
Accenture COVID-19
Consumer Research,
conducted April 2–6.

Consumerism to Minimalism: Has Covid 19 Induced a change?

Shift in Consumer Needs
Significant Differences Emerge Across Product Categories and Consumer Cohorts in India.
Source: Boston Consulting Group et al. (2020) Week 4, 23-26 March 2020

Consumerism to Minimalism: Has Covid 19 Induced a change?

Searching for
Information
Changes in consumer shopping journey Before, During & After the pandemic.
Source: Deloitte (2020)

Consumerism to Minimalism: Has Covid 19 Induced a change?

Criteria for Evaluation of Alternatives
Drivers for considering a New brand.

Source: McKinsey & company COVID-19 India Consumer Pulse Survey.

Consumerism to Minimalism: Has Covid 19 Induced a change?
 The
Purchase
Decision
 People Expected to shift to online purchases (Proportionate Shift)

Source: McKinsey & company COVID-19 India Consumer Pulse Survey.

Consumerism to Minimalism: Has Covid 19 Induced a change?

People Expected to shift to online purchases (Complete shift)

Source: McKinsey & company COVID-19 India Consumer Pulse Survey.

Consumerism to Minimalism: Has Covid 19 Induced a change?
Motivated Behaviors due to
Covid-19
 Panic Buying Behaviour

Share of people engaged in panic

buying due to coronavirus in India

Source: Statista 2020

Consumerism to Minimalism: Has Covid 19 Induced a change?

Consumerism to Minimalism
The shift in purchases.

Source: Accenture COVID-19 Consumer

Research, conducted April 2–6.

Consumerism to Minimalism: Has Covid 19 Induced a change?

 Increasing Digitalization

Online activities during the pandemic

Source: McKinsey & company COVID-19

India Consumer Pulse Survey

Consumerism to Minimalism: Has Covid 19 Induced a change?

Support For Local
Percentage people shifting to the local businesses.

Source: Shopify (2020)

Consumerism to Minimalism: Has Covid 19 Induced a change?

 The New Normal
Indian Consumer Behaviors Post Pandemic
Health Conscious Online Activities
Online Shopping (Online Conferencing, Streaming,
Purchasing Learning & Grocery delivery)

Work from Home Marketing Strategies

Consumerism to Minimalism: Has Covid 19 Induced a change?