C O N S U M E R B E H A V I O U R
During the crisis of COVID 19 consumer behaviour has highlighted fear and anxiety, of this new normal. Consumer panic buying across essential food and health care, enforced grocery stores to introduce shopping times for the elderly and key workers.
As the lockdown continued consumers reverted to accessing services and products from online platforms. Mintel statistics uncovered a survey of 2,000 internet users aged 16+ demonstrated there has been an enormous shift to digital spending by those aged 65+ in recent months. Mintel found that 43% of those in this age group have shopped more online since the start of the pandemic, contrasted to 42% amongst all adults. In contrast to May 2019, just 16% of those aged 65+ shopped online at least once a week.
Older individuals are likely to continue undertaking a greater amount of their shopping via the internet, with 56% of those aged 65+ stressed /very anxious about being exposed to the virus; this compares to just 40% of 16-24-years.
The financial effect of Covid-19 s is additionally set to be all the more harming to the younger demographic, with Generation Z and Millennials, specifically, prone to be more powerless against unemployment. In the examination, around four in 10 (38%) of those aged 16-34 are curtailing on non-essential purchases, compared to 31% of over 65s.