Effect of change of customer buying behavior due to covid Assignment Sample
Introduction
The pandemic of Covid acted as a prime issue in altering the buying behaviors of the consumers in the current scenario. This came into limelight mainly due to covid 19 issue. It resulted in the isolation of the people and shutting of the brick and mortar shops as well as many multinational firms also attained a serious set-back due to this. In regard to this now most of the individual are forced to change their purchase patterns. Now a days, they are more aware and conscious about health as well as economic aspects (Hwang & Mattila, 2020). Along with this, most of the consumer’s desire to purchase products that are more essential for health and immunity improvement so as to get rid from the sufferings of the covid 19 and therefore the buying rate of other luxury products minimized to a considerable extent as compared to previous times. This research mainly tried to highlight the differences in the purchase motive of the consumers that took place mainly in this scenario of covid. To do so, it is divided into five parts so as to presence a descriptive discussion regarding the topic.
Research aim
The aim of the paper is to analyst the impact of alteration of the buying nature of the customers in this covid situation. And the ways by which it affected the economic progress and spending behavior of the target individual. At the same, this research also presented a detail regarding the shift of preference towards online media rather than offline one and the reasons behind it.
Literature Review
Influence over the buying behaviour
In the year 2020, a huge change can be viewed within the purchasing of most of the products from offline towards online. This became possible mainly due to the presence of varied types of viruses within the atmosphere and this created a fear within the minds of the customers. As a result, most of the people desired to stay indoors and liked to purchase most of the products through online sites. In result to this, the offline brick and mortar stores attained a strong downfall in the total sale and purchase rate and also the net profit margin also decreased. Other than this, the demand of the products in the offline markets, malls and general stores and this created a sharp drift in the gross revenue. On the other hand, most of the essential as well as luxury products essential for the customers are taken from the online stores and this augmented the essence of these stores among the minds of the public. Such a change took place mainly due to the fear of increment in the spread of covid virus from one to another and so most of them, decided to remain inside. Despite of obeying varied types of covid protocols, the entrepreneurs failed to influence the buying range of the consumers. As a result, the offline stores are mostly closed and the net sale and brand value also diminished to a high rate. Thus, it can be stated that buying behaviour and covid aspects are directly related with one another and so it acted vice versa (Närvänen &et al., 2020).
Influence over society
Covid 19 also presented a serious outbreak over the social aspects. And this has also minimised the pace of growth and daily requirements of the individual to a considerable extent. As a result, now a days, the desire for the updated technology such as online sites acted as a boon for the people as maximum individual try to remain inside and spend their time with the friends and family. And so, the concept of offline shopping totally altered to online and the growth and sale of these group of companies attained a huge loss in this time span. In order to remain isolated, the idea of online buying is highly liked and its demand also boosted to mind-blowing height. On the other hand, in this time, the available products are priced at a quite lower rate as compared to offline stores so as to attract the consumers. And this concept or policy is considered as the most important aspect that enhanced the sustainability and reliability of these online sites. Hence, despite of relaxation of the covid protocols, the requirements for online is at a high level and not the brick and mortar stores. However, such types of strategy is implemented as the economic condition of the target consumers is extremely worse in this situation and so such a notion acted as a blessing for the people in varied regions and culture. In covid situation, maximum extent of the customers tries to buy their required products and services at least rate and at hygienic medium and such is easily fulfilled by the online stores (Cha & Borchgrevink, 2019). So the demand of these online shops boosted. Therefore, from the above mentioned statements it can be depicted that covid 19 is a serious set-back for the offline entrepreneurs and a boon for the online ones. And so the purchases from online sites intensified excellently thereby lifting their traffic and net growth and brand essence. The excellence of the products and brands also increased due to diverse buying of the customer’s desire and it opted positively. Thus, it can be revealed that covid and online sources demand enriched.
Influence over ecommerce traffic
Covid highly influenced the ecommerce traffic. This is because, most of the people searched for the products in online sites and so the traffic range amplified. Since, the people feared of moving outside the doors of the house towards any sort of shopping malls. Taking an advantage of this idea, the online stores tried to offer best quality of products at a quite competitive prices so as to fascinate them towards it. This acted in improving the total sale and profit margin of the shops thereby augmenting the total revenue as well. Not only this, the delivery time is also reduced and this is also highly preferred by the consumers in this covid scenario (Shammout, 2020). Hence, it can be stated that due to the introduction of such types of policies, the online ecommerce sites attained a high rate of traffic as compared to others. On the contrary, if the above mentioned factors are not considered by the ecommerce sites then the hike that is visualised cannot be seen and its revenue could also not have improved.
Upcoming challenges of Ecommerce due to covid
Covid also presented varied types of ecommerce challenges that created a gap within the customer perception and delivery time. This resulted since, most of the people desired for immediate delivery of the products and services ordered through online sites. But, this leaded to an issue as the online shops failed to present the products in requisite time due to lack in supply chain features. Therefore, due to such types of problems, a wide range of products are also cancelled by the customers and so it presented a huge loss for the companies. And also the delivery boys lacked in attaining apt salaries in this situation due to high cancellation rates of the consumers. Therefore, in order to resolve such types of issues, inventive technologies are introduced within the delivery and supply chain methods. And, the challenge lowered to a small extent and the cancellation range minimised but still the time or hours of delivery became another serious difficulty for the delivery boys. And to sort out this, most of the sites presented the actual time at the time of ordering so that the consumer remains to attain the delivery of the requisite products (Levy, 2022).
Methodology
In this research, positivism philosophy is taken into consideration so as to collect relevant data in order to understand the effect of customer buying nature in covid time. At the same time, an appropriate research strategy is also essential as it could assist in attaining accurate information regarding the influence of covid. To do so, quantitative research strategy is useful as it could make use of numerical information obtained from the survey along with secondary methods. To do so, a sample size of 100 consumers are taken into consideration selected through random sampling methods. Then, it could be useful in analysing the impact of purchasing rate of the buyers over the covid scenario. Apart from this, in regard of data collection, both survey and interview method need to be used so as to attain varied types of data regarding the change of purchasing behaviour. This is because, from the survey data, the information are examined with the interview information and then the final results are obtained. Then, it is also scrutinised with the literature review so as to evaluate the final aspects of covid over the customer preferences and demands.
Other than this, research analysis also plays a very important part and to do so, both primary and secondary data collection methods are considered. With the use of primary data, the hike of online sources can be examined and then it can be easily matched with the secondary information available in online sources. With the use of qualitative and quantitative data analysis process, the change of the preferences of the people in covid situation from offline to online can be examined in an effectual manner. Failure to use such types of methods cannot be advantageous in understanding the exact nature of the people and this cannot present exact values and details regarding the topic. As a result, the entire research cannot be utilized to find the actual reasons that hiked the online stores demand rather than offline in an useful way. On the other hand, research approaches also need to be considered in this regard. Deductive approach could be the best to scan the influence of customers mentally towards the online sites in covid 19 situation rather than inductive approach. Since, it could present the detailed nature of the alterations that took place within the target individual in this pandemic environment (Karunaratne & Kumara, 2020). Hence, if these methodologies are not followed then it would not be effective in determining the aspects of the topic in an exact manner. Thus, failure to do so, can result the entire research in vain.
Research ethics
Research ethics need to be maintained in an actual way so as to make it exact and apt. To do so, the researcher need to present the survey sheets to the respondents in order to attain accurate responses. And these responses need to be preserved in an accurate way and then only, the details cannot get leaked and create a chaos. On the other hand, the research need to be completed in exact time as mentioned so as to reduce any sort of discrepancies within it. Other than this, the sample sizes also need to be selected in a very knowledgeable manner so that no confusion remains within it.
References
Cha, J., & Borchgrevink, C. P. (2019). Customers’ perceptions in value and food safety on customer satisfaction and loyalty in restaurant environments: moderating roles of gender and restaurant types. Journal of Quality Assurance in Hospitality & Tourism, 20(2), 143-161.
Närvänen, E., Kuusela, H., Paavola, H., & Sirola, N. (2020). A meaning-based framework for customer loyalty. International Journal of Retail & Distribution Management.
Hwang, Y., & Mattila, A. S. (2020). Is it my luck or loyalty? The role of culture on customer preferences for loyalty reward types. Journal of Travel Research, 57(6), 769-778.
Shammout, A. B. (2020). An empirical investigation of relational bonds on attitudinal and behavioral customer loyalty for Arabic luxury hotel customers. International Journal of Hospitality & Tourism Administration, 21(3), 221-241.
Levy, S. (2022). Brand attachment to loyalty in covid: mediated by psychological engagement with service platforms and moderated by platform types. International Journal of Bank Marketing.
Karunaratna, A. C., & Kumara, P. A. P. (2018). Determinants of customer loyalty: A literature review. Journal of customer behaviour, 17(1-2), 49-73.
Wang, Y., & Tahara, T. (2018, May). A Japanese Corpus for Analyzing Customer Loyalty Information. In Proceedings of the Eleventh International Conference on Language Resources and Evaluation (LREC 2018).
………………………………………………………………………………………………………………………..
Know more about UniqueSubmission’s other writing services:
