Just when we thought the worst was over, a second wave is now breaking over almost the entire globe. The coronavirus crisis is not so episodic and it seems we have to learn to live with it. How has this pandemic transformed our consumption paradigms? This is the question Euromonitor’s latest report tries to answer.
“Covid-19 has revolutionized the economic landscape. It has changed the way we, as consumers, live, work and shop,” introduces Euromonitor. “We can expect a new normalcy to emerge, as fears of a pandemic or other destructive event remain palpable.”
Key changes
Covid-19 has had an impact on many aspects of our society.
A destabilized economy
The global economy is expected to enter its worst recession since the 1930s, hitting all sectors from hotels and finance to education. Yet the pandemic is also causing consumers to re-evaluate their life priorities. They are advocating new values and new spending criteria.
Withdrawing into oneself
With the closing of stores, the injunction not to leave the house and the respect of social distancing, many consumers are learning to evolve in their private sphere.
The rise of digital
The closure of non-essential stores and the temporary disruption of supply chains have led to a de facto evolution of online sales. All companies are looking for new ways to reach consumers… and the various digital platforms seem to be perfect for that.
A strong interest in health
Since the beginning of the pandemic, consumers have become increasingly concerned about their condition. Thus, they are looking for …
