In one or more ways, we live in what many call our “new normal.” The coronavirus or COVID-19 has greatly impacted the way we work and live today.
From working from home, social distancing, panic buying, and government-led disaster programs, we are faced with unprecedented events that are reshaping consumer behavior.
Misguided as it may seem, consumers have been seen to be stocking up on pantry essentials and health-minded buying – toilet paper, hand sanitizers, gloves, and face masks, according to Nielsen’s latest consumer research. While many small businesses, especially restaurants, are struggling to break even, fast food chains with drive-thru systems are thriving.
We’ve seen Americans hastily change their plans, in 2 weeks in March alone. Large events such as music festivals, concerts, or sporting events have either been canceled or postponed. From March 13-15, people who canceled or postponed their travel plans stood at 39%. But this number has spiked up to 73