Impact of COVID-19 on Consumer Buying Behavior Reaction, Survival, and Adjustment Due to the Pandemic
Abstract
Purpose: The rationale of this research study is to explore the change in consumer buying behavior (CBB), their reaction, which is measured by consumer hoarding behavior (CHB), rejection of behavioral directives (RBD), survival, which is measured by social connectedness (SC), do-it-yourself behavior (DIY), and adjustment, which is measured by lifestyle changes (LSC), due to the outbreak of the novel pandemic of COVID-19. The spread of COVID-19 has affected the well-being of consumers, and the lockdown initiatives across countries have created widespread panic and anxiety. The pandemic has affected the rich, the poor, and the lower class of society, where putting food on the table has become imperative.
Research Design: Research was conducted through an adopted questionnaire, and the sample size for the study was 384. Data analysis was done through SPSS, where the hypotheses were empirically tested to reach the novel findings.
Findings: Results indicated that CHB was the significant determinant of CBB, whereas RBD, SC, DIY, and LSC were found to be insignificant, causing no impact on CBB. This paper emphasizes analyzing the impact of COVID-19 on CBB, their reaction, survival, and adjustment due to the novel pandemic.
Practical Implication: The implications of this research paper are to propose and create awareness for marketers regarding the permanent shifts in consumer buying behavior in response to COVID-19 and the way forward into the future lives of consumers post-COVID-19.
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