Consumption habits do not change in an instant. Not even the ongoing COVID- 19 induced lockdowns could do much about it. In fact US grocery stores reported a massive seventy- seven percent hike in their sales in comparison to the same time last year. While restaurants’ sales plummeted by forty- eight percent during the same period, grocery stores’ digital marketing campaigns have been so successful, that till end of April they reported an eight percent rise in sales. This is in spite of lower levels of cash flow circulating in the economy. Thus, instead of spending patterns, customers’ behavioural trends will need to alter in the post- COVID world. To start off, more amount of work from home will need to be encouraged. As single- person households have increased in frequency, cooking as an activity had also declined, with many single diners preferring to eat out or order online. This trend will need to be reversed. Density too will need to be reduced. Economies of scale will need to give way to social distancing. Smart shopping will be the need of the hour as for instance, small restaurants could also double up to be mini- grocers.

Source:https://hbr.org/2020/05/3-behavioral-trends-that-will-reshape-our-post-covid-world?utm_medium=email&utm_source=newsletter_daily&utm_campaign=dailyalert_not_activesubs&referral=00563&deliveryName=DM81754

Uploaded Date:29 May 2020