Covid’19 and its impact on Consumer’s mental health
This journey of
sailing through the pandemic has brought forth more downs than ups. Consumers
are slowly trying to regain control over their lives through this new normal
with restrictions and regulations trying to avoid a second wave of the virus.
However, this may not be the majority, as other consumers are finding it hard
to adapt to a life of wearing a mask and confining laws seem challenging. This
new way of life jumping between lockdowns and restrictions only to control the
intensity of the virus as brought along its own set of mental health issues.
Hoarding is a
new trend that consumers have picked up in most markets, due to not knowing
what awaits them the next day. Consumer behaviour is truly reflecting to a new
age of commerce that we are edging on.According to market researchers at
Truecode, observing these shifts in consumer behaviour identifies core
influences that drive their motives. One of these may be the enlarging focus on
wellness and wellbeing, both physically and mentally since the onset of
Covid’19.The pandemic has taken a toll on mental health, and has led to many
subsequent consequences. At Truecode, researchers observed that economic
obstacles, fear of isolation, and social unrest have all led to fluctuating
moods in all of us as we sail through this pandemic. In certain markets, they
are facing their second wave of shutting down and added restrictions and some
slowing processing their recovery. In other sectors, markets are gradually
reopening and consumers are coming to the idea of returning back to their
routines.
At Truecode, we
believe that there are some consumers living in fear and only slowly
considering their re-entry to a normal life, whereas there exists another set
of consumers that are enjoying their freedom after quarantine which has led
them to become a nexus of new virus fears. Truecode market researchers believe
that the retail sector needs to keep in mind these behaviours when opening up
their stores and approach the situation with caution.
Considering the
fact that the virus and its consequences were so rapid and influential to our
day to day lives, its effect is as similar as traumatic events, both personal
and global. As, consumers are slowing recovering from the first wave, Truecode
researchers feel that there has been a manifestation of symptoms within the
consumer that are similar of trauma victims, Post Corona Stress Disorder which
may be in similarity with Post Traumatic Stress Disorder. Under usual circumstances,
when under threat the brain switches to a survival mode and restores itself
after it has passed. But for those who suffer from PTSD, this switch never goes
off, and the victim is in a constant sense of emergency. A similar phenomenon
is taking place as the pandemic plays out. A PCSD consumer will continue to
stress months after the pandemic and its implications are eased. They will be
unable to enjoy normality and refuse to into crowded places or even socialise.
In fact, PCSD might stop consumers from re-entering society and its communities
completely.
The hopes to
overcome this pandemic and the struggles it has brought with it will leave its
mark on the consumers. But there is still a ray of hope, that we as a consumer
society are resilient and evolving to the needs of the era. Retailers are using
social media platforms and the internet to launch products and gather consumer
attention. They have successfully used the internet to raise funds and for
promotional activities in the past, and now maybe more than ever. The world
around us is changing and so are we, as an economy and as a society.
In spite of all
tragedies and pandemics, consumers will continue to consume. There exists only
a variation in what they consume and how much they consume. Consumers and
retailers are alike are trying to navigate through these uncertain times and
both parties require understanding. At this point, trying to predict what the
next step is hard and duly unstable. Consumers will be hesitant, cynical,
cautious and risk averse until we reach a better place. At Truecode, we believe
that transparency leads to consumer trust, and hence retailers need to have
open communication to help consumers progress through levels of Covid anxiety
and maintain a better outlook moving forward.
