Consumer Behavior Impact - COVID-19 versus 2008 Recession

Consumer Behavior Impact - Covid-19 versus 2008 Recession

Summary

This report is part of the publisher's COVID-19 Impact on Consumer Behavior series, which tracks how the pandemic and many factors have impacted consumer behavior and purchase decisions.

This report focuses on how global crises affect consumer habits and behaviors through a comparison with the 2008 recession and current pandemic.

Scope

• Economic recessions change consumer behavior and habits.
• While the 2008 recession led to an increase in discounters, COVID-19 has led to consumers being more conscious about their shopping.
• Habits established during a crisis will continue even after the crisis is over.

Reasons to Buy

• Understand how global crises individually affects consumers and gain a broader understanding of how habit formation during crises has long term effects.
• Access valuable strategic take-outs to help direct decision-making and inform new product development.