IJSSER

Title: EFFECT OF PANDEMIC ON CONSUMER INCOME AND CONSUMER CHOICES
Authors: Diksha Bagh
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Diksha Bagh Bal Bharati Public School, Navi Mumbai
MLA 8 Bagh, Diksha. "EFFECT OF PANDEMIC ON CONSUMER INCOME AND CONSUMER CHOICES." Int. j. of Social Science and Economic Research, vol. 6, no. 8, Aug. 2021, pp. 3022-3034, doi.org/10.46609/IJSSER.2021.v06i08.032. Accessed Aug. 2021. APA 6 Bagh, D. (2021, August). EFFECT OF PANDEMIC ON CONSUMER INCOME AND CONSUMER CHOICES. Int. j. of Social Science and Economic Research, 6(8), 3022-3034. Retrieved from doi.org/10.46609/IJSSER.2021.v06i08.032 Chicago Bagh, Diksha. "EFFECT OF PANDEMIC ON CONSUMER INCOME AND CONSUMER CHOICES." Int. j. of Social Science and Economic Research 6, no. 8 (August 2021), 3022-3034. Accessed August, 2021. doi.org/10.46609/IJSSER.2021.v06i08.032.
References [1]. Adapt Your Business to the New Reality - Start by understanding how habits have changed by Michael G. Jacobides and Martin Reeves - Harvard Business Review https://hbr.org/2020/09/adapt-your-business-to-the-new-reality [2]. The Impacts of the COVID-19 Pandemic on Micro, Small, and Medium Enterprises in Asia and their Digitization Responses by Tetsushi Sonobe, Asami Takeda, Susumu Yoshida, and Hoa Thi Truong - ADBI Working Paper Series. Dated - March 2021 https://www.adb.org/sites/default/files/publication/692466/adbi-wp1241.pdf [3]. Impact of Covid-19 on Consumer Behaviour: Will the old habits return or die? By Jagdish Shah - NCBI. Published on 4th June 2020 https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7269931/ [4]. The Covid-19 Pandemic: Effect on Low and Middle-Income Countries - Anesthesia and Analgesia. Published on 1st April 2020 The COVID-19 Pandemic: Effects on Low- and Middle-Income... : Anesthesia & Analgesia [5]. How Covid-19 shocked both supply and demand by Michael Maiello for Chicago Booth Review. Published on May 14th 2020 How COVID-19 shocked both supply and demand [6]. Decomposing demand and supply shocks during Covid-19 by Pedro Brinca, Joao B. Duarte, Miguel Faria e Castro published on 17th June 2020 for VOX, CEPR Policy Portal https://voxeu.org/article/decomposing-demand-and-supply-shocks-during-covid-19 [7]. Demand versus supply: Price Adjustment during the Covid-19 Pandemic by Almut Balleer, Sebastian Link, Manuel Menkhoff, Peter Zorn published on 27th July 2020 for VOX, CEPR Policy Portal Demand versus supply: Price adjustment during the Covid-19 pandemic \| VOX, CEPR Policy Portal [8]. Impact of Coronavirus on Consumer Behaviour - Blog by Numerator Intelligence published on January 28th 2021 https://www.numerator.com/resources/blog/impact-covid-19-consumer-behavior
Abstract: The Pandemic has brought immense changes in many areas which directly affect our lives, including our social environment. The major implication of the circumstances created by this virus is especially felt in the economies of different countries. With lockdown coming into effect in the initial (and major) part of the pandemic, humans were obliged to stay indoors. The bustling markets came to a sudden halt, and the producers and shopkeepers were left with no choice, but to shut down their units. Consequently, the working class began facing their dwindling income, as a result of the cessation of buying and selling activities on a large scale. There is a differentiated impact of this on separate classes of people, ranging from the poorest of poor to the richest. Such a condition of diminishing income as well as the outbreak of covid cases collectively brought about certain behavioural changes in consumer choices turning them into a more intuitively driven consumers. I chose this topic for my research paper to explore more on the consumer’s change in income and decision making process at a microeconomic level during the pandemic and shed some light on its lasting impact on business models in a post-pandemic world.

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