Pandemic has shifted consumption patterns: WatConsult report

Economy


New Delhi: The pandemic has impacted the lives of the consumers and shifted their consumption patterns with most of the consumers restrained themselves to making investments and purchases of essential items only during the lockdown, according to a report by WatConsult.

Consumers feel that their personal finance will be impacted for a period of 4-6 months, with 48 percent of consumers feeling that their ability to meet financial ends has been negatively affected during the lockdown, the report titled Change in Consumer Spends during Covid-19, said.

Most of the consumers, surveyed during the report, felt that their expenditure has increased on medical supplies

during the lockdown compared to pre-lockdown period.

Loading...

During pandemic, most of the people are working from home and their expenditure has increased on the computer, laptop and computer peripherals products followed by fitness and wellness, category, the report added.

People have been shopping online more every day During the lockdown period compared to pre-lockdown with females and consumers aged 55 years and above shopping online more frequently.

Majority of buyers are making payments using mobile wallets such as PayTM, PhonePe, followed by cash or getting the orders delivered using the ‘cash on delivery’ option, the report added.



Source link

Articles You May Like

Northrop Grumman MEV-2 spacecraft services Intelsat 10-02
Bank of America (BAC) earnings Q1 2021
Goldman Sachs (GS) earnings Q1 2021 crush forecasts
NBA stars John Wall, Carmelo Anthony invest in cannabis company LEUNE
Billionaire Mark Cuban on bitcoin’s top after Coinbase listing

Leave a Reply

Your email address will not be published. Required fields are marked *

Loading...