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Save more, spend less to be shoppers’ new mantra

Shoppers are likely to cut back sharply on discretionary spending after the lockdown, sacrificing outings to malls, restaurants, and salons to save up for immediate needs such as health and hygiene products. The online survey was conducted by Nielsen between 10 April and 14 April among 1,330 people in 23 cities. The findings indicate that the future is tilting toward home-cooked meals rather than eating out. Hygiene has become a big issue with increased awareness and is likely to remain the trend once the pandemic is over. Even if normalcy returns and the lockdown is relaxed, people will not be comfortable in crowded places, including airlines, restaurants, clubs, and metros. The importance of preventive healthcare will grow in consumer priorities because of the covid-19 pandemic. E-commerce has seen exponential growth and this will continue. However, after the coronavirus outbreak and the ensuing lockdown, kirana stores have made a comeback.

Read more at LiveMint

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