By Matters India Reporter
Patna: Mandated lockdowns and business closures during coronavirus pandemic have caused consumers all over the world to change their behaviors rapidly and in large numbers, according to a management professional.
“Malls are set to open after mid-July. But people may prefer to stay away from crowded place and move to online platforms for shopping,” Mridumesh Kumar Rai, the business director Dubai-based multi-national retail company Alshaya Group, told a webinar on July 2.
Addressing the webinar on “Understanding Consumer behavior in the post-Covid world,” Rai quoted a McKinsey and Company’s report that has predicted reduced footfalls in the malls when they reopen after a more than two months of shutdown following Covid-19 second wave.
The webinar was organised by the department of management, St Xavier’s College of Management and Technology, Patna.
Rai said the trick to understand a consumer’s behavior was to remember what the buyer wanted. “To understand the buyer, a retailer should keep three important factors in mind–Who is my consumer? Who is my competition? And what am I offering?” he added.
“The disruptions in daily experiences caused by the pandemic present a rare moment. But they are not the first disruption. We should, therefore, remember that we are not the only persons who have been affected and learn from it,” he added.
“It is important to evolve and adapt to emerging trends. Any disruption is temporary and it won’t last long,” he explained.