Question

Website- Consumer sentiment and behavior continue to reflect the uncertainty of the COVID-19 crisis

1) According to the report, how has consumer sentiment around the globe changed? Explain in 50-100 words.

2) How has your willingness to pay and spend across different categories of products altered during this pandemic?--> mask

Discuss in 100-150 words.

Answer 1

a. With most of the physically jobs done that makes a person to be physically present on the workplace restricted because of covid -19 the world is going digital changing the old trend. Being digital is offering consumers a way to explore more opportunities in less time and letting a person to be present on many works on a time from home. consumers are more interested now in the purchase of essential items digitally , and distract themselves from the monotony of stay-at-home life under lockdown. Yet despite the growing use of digital to improve life at home, consumer sentiment around the world remains persistently downbeat.

b. Consmers has started to spend more of their income on health sector after the pandemic . Most of the part of this spending goes to health products and fitness centres . After the great lockdown some consumers have started to feel the worth of saving money so most of them have started saving money which is in turn causing in less spendings . I was more interested in spending my income in different types of food products and more over travelling and stuff, after the lockdown just like a regular earning consumer we have started to understand the importance of holding money to use it in hard times . Mostly the income has been shifted towards healthcare products and different items that are of great importance .

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