Impact Of Psychological Variables on Consumer Behaviour During the Covid-19 Pandemic

Abstract

The COVID-19 outbreak is further advance to just a well-being crisis; it has thrown our entire way of life into chaos. A study of economic statistics on sales shows that this dramatic scenario has had a substantial impact on individual spending levels. In order to better understand these transitions, the current study focuses on consumer behaviour and its emotional antecedents. Previous study has found that crises have a variety of effects on people's motivation to acquire essential (i.e., utilitarian) and non-essential (i.e., non-essential shopping) items (i.e., hedonic shopping). As a result, we used a fine-grained method to disentangle needs and non-essential when assessing whether variations in spending levels were connected with deviations in consumer behaviour. During the phase of the epidemic in Mumbai, we conducted an online survey with 4000 individuals(ages18-64). Consumer behaviour difference wrt to gender in context to Self-Justifications, Spending-Habits, Choice-Strategies, Fear for COVID19, Perceived Economic Stability. The current study enriched our knowledge of how consumer behaviour altered during the COVID-19 pandemic with special emphasis on impact of gender and also regarding the changes in essential product and non-essential goods. The findings could aid in the improvement of marketing tactics that ponder psychological factors in order to cater to the requirements and moods of real customers.