Question

How COVID-19 Affects Consumer Behavior of the Greek People?

Simple answer, answer in 300-400 words

Answer 1

COVID19 and its impact make huge influence on global economy. There is a world lock down affect the production and consumption of every economy. The consumption pattern of individual changed with respect to the unavailability of goods and services. In Greek economy, there is a planning cycle made to formulate among consumer’s retailers, wholesalers etc. There is a wide development in the field of e-commerce. Both producers and consumers become uncertain about the future conditions and development. Most of the Greek consumers tried to save the available resources in economy to maintain their consumption in future. Every customer was conscious about their expenditure and income. The demand for grocery shops increased in Greek with respect to lone period of lockdown. So some efficient companies make partnership with these shops and make the delivering smoothly. Most of the online shopping companies flourished in Greek economy due to the lockdown.
Most of the people mainly depend on the online shopping platforms for their basic needs. Thus new modes of delivering were introduced in the economy. There is a digital transformation of consumption emerged in the market. The fall in the demand for travel and tourism retards the job opportunities and this affect the income development among the workers. In Greece the domestic consumption raised. The super markets in Greece show a plunged growth in the field of demand for olive oils. There is a disruption in the import facilities. There is a huge challenge faced in the export sector. On the other hand, most of the hording products for exporting used by the domestic people it. The marginal propensity of consumption reduced due to this pandemic. In unorganised sector there is higher rate of unemployment emerged. The digital consumption makes impact only in the high income group people. So this affect the consumption and expenditure of the low income group people.