Covid-19 has forced us to make dramatic changes to the way we live, from work from home culture to hosting family get-togethers in our living rooms via video apps. Predictably our shopping patterns and habits have also undergone stark changes.
Due to the fear of virus and amid a series of lockdowns across the world the changed dynamics in the industry will surely affect the shopping culture as well. As the world goes into lockdown and consumer shelter at home, the stock market is on a decline. The store closures across the globe have brought fashion and retail industries in particular need to steer through changing environment.
After lockdown, the market is not going to be full of shoppers but the ones who will be shopping are the young guns. The ones with job security will be spending more moolah and time as they continue to work from home. Lockdown plus work from home will evolve the shopping habits in times to come. Office hours are turning into shopping hours with majority of the grocery shopping being conducted in 10:00 am- 7:00 pm slot. The craze of online shopping combined with assurances of contact-less delivery will enhance dependency on online platforms.
People who preferred eating out have been spending generously on grocery, stocking up essentials for home cooked meals. This would surely continue post the lockdown phase as WHO is of the opinion that this viral flu is with us for a considerable time period and we would have to evolve our lifestyles according to safety standards. Therefore, the craze for home cooking is here to stay and with that online grocery shopping is also inevitable.
Even after home delivery it is suggested to keep aside the goods for at least 24 hours before imminent use. Online retail is here to stay as more and more people are showing preference for it. People who earlier avoided online shopping on various pretexts are slowly getting used to the idea and some are thoroughly enjoying it.
For almost all the companies are making sense to accelerate their e-commerce strategies and platforms at top gear. FTUs or First time e-commerce users are increasing as we speak. Consumers are frequently purchasing products online that they would normally buy in stores. This click frenzy has altered the very basics of shopping.
The newly developed hygiene regime will continue even after lockdown and people would stock up on pharmaceutical products. Not only face masks and hand sanitizers will become must haves but also whatever new innovations which spring up in the market.This newly evolved fear will be cashed on by pharma giants, giving a boom to the market. Health gear will become the new fashion trend.
Even our payment options would change. Dealing in cash would be risky as the virus being present on currency is still a debatable issue, but majority are resorting to online modes of payment. E- Wallets such as paytm, Google pay, Phonepe are becoming prerequisites and even these companies are bringing attractive offers and coupons to lure more and more customers.
Ensuring the genuineness is still essential when transacting online. Avoid ambiguous sites as chances of fraudulent activities are high. Cheque usage will surely plummet. Contactless card payment will be on an all time high.
In scenarios where people step out to shop, things will alter accordingly. Plastic will definitely lose its sheen as according to researchers virus stays on plastic surface for 2 to 3 days and so homemade cloth bags will again come to the rescue. Cotton will still be more preferred as it can be washed and dried easily. People should ensure that social distancing norms are followed while shopping to your heart’s content.
Required distance of 3 feet and avoiding as much contact with any surface will follow suit. While going out for shopping, wearing mask and sanitizing your hands will become necessary checks of your shopping lists. We need not lower our defences when we are out in the open as that is the time when we are the most vulnerable.
Shopping for digital applications, online content platforms, music, gaming and online courses has seen a tremendous outpouring. With movies and series on the go, spending patterns are slightly altered. Millennials are the largest consumers, binge watching on their favourite OTT platforms. This trend is unlikely to subside as people are getting used to these modes of entertainment.
Now the time is to evolve our sudden shopping urges and develop a sense of calm and restraint as going on a shopping spree without required defences can be hazardous. To have a calculated approach in these uncertain times is the need of the hour. Being on constant vigilance and undertaking necessary precautions will make our lives easier and safer and adapting to the novel changes in shopping patterns in post corona period.
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