COVID-19 is a black swan event, a human tragedy with a long-term economic implication. Everything that we knew about the way the world conducted business prior to March 2020 has changed, and it will continue to change. In the next few quarters consumer behaviour, changed media consumption, partial relaxation of restrictions, drop of discretionary spends and many other factors will define a new normal for more than just purchase patterns.
Indian companies have also taken a hard hit with Indian consumer preferences undergoing change. Not only is this pandemic coercing consumers out of their normal practices but it is also shaping them to adopt new habits that many expect will continue in the long term.
Millennial’s have been India’s biggest spenders, as they move into their prime earning and spending years. Read on for more insights.Are-we-ready-for-the-new-normal-post-COVID-19