The post-COVID-19 consumers will sieve out frivolous purchases and exercise a higher degree of rationality in balancing their needs and wants.
New consumption patterns and digitalisation will change the rules of the game. It is time for organisations to look at revamping customer engagement methods.
Besides the humanitarian fallout of the Coronavirus pandemic, the economic disruption - the next chapter in the crisis - has started unfolding.
Although countries have started easing lockdowns and economic activities are being resuscitated, the impact on livelihoods will herald a shift in consumer sentiments.