A Comprehensive Literature Review on Changes in Consumer Behavior and Emerging Marketing Opportunities Adopted by Different Industries within the Context of COVID-19 Pandemic Situation
12 Pages Posted: 28 Dec 2022
Date Written: December 18, 2022
Abstract
Since the beginning of human civilization to the present day, people have had to adjust to a wide variety of "conditions or changes." Some of these "conditions or changes" have been brought about by natural catastrophes, while others have been brought about on purpose. During the course of this prolonged journey, humankind will face pandemics, which are catastrophic events that have not been adequately addressed in earlier stages of development and can be broken down into a number of substages (Fernández-Villaverde et al., 2020). As a result of the pandemic issue, there has been a change in consumer buying behaviors such as panic buying behavior, Online buying behaviors, stockpiling and those are some of the most famous changes in consumer behaviors during the COVID-19 pandemic. These changes in consumer behaviors has been affected to majority of the businesses and therefore it is essential to focus on novel marketing strategies and effective techniques that will be needed for businesses to acquire new consumers as well as existing ones and increase sales. Following that, the primary objective of this study is to conduct an in-depth analysis of how COVID-19 has changed the behaviors of the customers in various sectors and how the consumers' buying behaviors changes during the COVID-19 pandemic, as well as the techniques they use in their daily lives, from the perspective of a variety of countries and sectors.
Keywords: Panic Buying Behavior, Online Buying Behavior, Stockpiling, Consumer Buying Behavior
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