Consumers and Businesses Response to the COVID-19 Pandemic: Is it about the Digital Shift?

P. 214–219.

Berezka S., Sheresheva M. Y., Rebiazina V.

Purpose: This research focuses on the changes in consumer behavior including special requests and needs businesses should now take into account due to the new reality caused by the COVID-19 pandemic. It has led to the unprecedented and not yet fully investigated consequences for society and businesses during the world lockdown in spring 2020. Study design: The empirical research is based on the online survey of 445 consumers from the Russian market. As a result of confirmatory factor analysis (CFA) five factors are identified concerning consumer behavior during the COVID-19 pandemic. Three clusters of consumers were identified based on these five factors. Findings: The study reveals the increase in personal anxiety associated with the pandemic for two clusters of the consumers, and the challenge for some consumers to adjust their behavior with the lack of services. Originality/value: The paper contributes to studies on customer behavior during the COVID-19 pandemic and may be used as a base for future research and as a basis for businesses to change their marketing strategy

 

 

CONSUMER BEHAVIOR, BUSINESS RESPONSE, THE COVID-19 PANDEMIC, DIGITAL SERVICES, RUSSIAN MARKET

Keywords: Consumer Behavior, Russian market, digital services, COVID-19 pandemic, Business Response

In book

Annual GSOM Emerging Markets Conference 2020. Conference book

Graduate School of Management, St. Petersburg State University, 2020.