The Consumer Demand Recovery beyond the Pandemic

Abstract

The coronavirus's economic impact has been unequal, just as it has affected different locations and people in different ways. Employees who can work from home have preserved their jobs and income despite being forced to cut back on expenditures owing to lockdowns, travel limitations, and health concerns; others have lost their jobs and income or closed down businesses, making it impossible to pay bills. The first wave of the pandemic, which hit countries in early 2020, reduced consumer spending, which is the primary source of economic activity. Customers were compelled to adjust their behaviour, company models were changed, and government rules were changed.

While the pandemic, just like earlier major crises, will leave enduring marks as a consequence of the pending demand and substantial savings, when Covid-19 is controlled, there are reasons for being confident about a vigorous rebound of consumer spending. A key aspect in global economic recovery is understanding what this entails for consumption behaviour and consumer reactivity which will be the focus of this research.