These include prioritizing price, declining brand loyalty, and dispensing with luxuries

Experts: 10 changes in consumer buying behavior during "Corona"

• Purchases are generally focused on goods that are of high quality after lowering their prices.

  Photography: Ashok Verma

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Economists said that there are fundamental changes that occurred in consumers ’behavior in purchasing operations during the Corona pandemic, most notably avoiding random purchase, giving price priority in determining the purchase decision, as well as declining loyalty to brands, especially the luxury ones, in addition to not being extravagant and buying luxuries. .

They added to «Emirates Today» that there is interest from a large segment of consumers to follow-up the new price cuts continuously, whether in local sales outlets or via the Internet, noting that the purchases focused on goods that are of high quality after the reduction, and not cheap low-quality goods. .

They emphasized that merchants should take into account this shift in consumer behavior, set appropriate prices, and make discounts.

Price first

In detail, the Vice President of the Emirates Entrepreneur Association, Ibrahim bin Shaheen, said that a large segment of consumers has become keen to save and not be extravagant, and to buy what they really need, while giving the price priority in determining the purchase decision, which led to a decline in loyalty to brands, especially the high Prices from them.

Bin Shaheen added that there is a great interest in purchasing low-priced goods, and preferring promotional offers over goods, which was evident in the increasing presence of electronic applications specialized in showing offers in the markets, and providing comparisons on commodity prices and their different brands, which supported competition in the market between traders and producers. Significantly, but ultimately it is in the best interest of the consumer.

He stressed that merchants should take into account this shift in consumer behavior, set appropriate prices, and make price cuts, given that this new change threatens the exit of some traders who sell at unjustified high prices from the market, after the escalation of competition.

Changes

For his part, the expert on retail affairs, Ibrahim Al-Bahr, said that there are fundamental changes that have occurred in the behavior of a large part of consumers in the purchasing process in the country affected by the Corona pandemic, indicating that the “pandemic” has become a financial education school for a large number of consumers. Drastic and noticeable changes in consumers' financial and purchasing behavior.

Al-Bahr stated that many consumers are dispensing with luxuries or non-essential goods, especially the high-priced ones, especially cars, electronics, furniture, and high-priced jewelry, and they postpone purchasing them, or replace them with the lower-priced brands, which led to a decline in loyalty to brands, especially luxury.

Travel and food

Al-Bahr pointed out the interest of a large segment of consumers, including those with high financial ability, to continuously follow-up on the new price cuts, whether in local sales outlets or via the Internet, and to give priority to buying discounted goods, but with great awareness, as purchases were generally focused on commodities. Which is of high quality after reduced, not inferior and low-quality cheap goods.

He also referred to some of the changes that resulted from "Corona", such as the weak demand for restaurants and eating at home, and the lack of travel abroad as was happening before "Corona", expecting the continuation of changes related to travel and eating habits abroad in the long term.

Al-Bahar also expected that the demand for high-priced restaurants will decrease during the coming period, in addition to the lack of travel abroad for the purpose of tourism, especially after many of the country's residents discovered the importance of preparing food at home, and the presence of good places for domestic tourism is cheaper than many countries they used to I travel to it several times a year.

Middle class

In turn, the economist, Ali Al-Hammoudi, agreed to change some of the habits and patterns of consumption and buying during "Corona" for a large number of consumers, especially among the middle class in light of some fears of losing their job, after seeing similar models from colleagues or relatives, and the lack of assurances From some employers, this was reflected in consumer confidence, which is the main driver of consumption.

Al-Hammoudi said that there is a decline in the "luxury spending" of many consumers, which has translated into a lack of interest in buying goods that are considered entertainment, after they have become not a priority of consumer spending, such as buying cars, jewelry and phones, as well as a decline in travel outside the country. Many hesitate to do so, and prefer to wait until things improve, at a time when they focus on meeting basic needs, such as food, medicine and education, noting that the food, beverage and education sector is one of the sectors least affected by the pandemic and its repercussions.

Electronic shopping

Al-Hammoudi pointed out that the shift of a large number of consumers to buying via the Internet has led to the development of these services during the recent period, especially with regard to delivery services and product retrieval services, expecting that the demand for electronic shopping will continue even after the end of the pandemic.

He expected that the caution and retreat in buying luxuries would end in the event the pandemic ends, and consumers' confidence in general economic conditions increases, which translates into high consumer confidence through his continued work, and his company continuing its activity and expansion, which guarantees him that his job is safe, and that he can advance And increase his salary in the future.

Luxuries

In the same context, the economist and member of the Board of Directors of the Abu Dhabi Chamber of Commerce and Industry, Hamad Al-Awadi, said that crises usually lead to changes in consumer behavior in general, pointing out that the Corona crisis led to a large segment of consumers turning away from buying luxuries, such as gold. Jewelry, luxury clothing, perfumes and some durable goods.

He explained that reduced exit and outreach, as well as closures and job losses, fundamentally contributed to that change.

Random consumption

Al-Awadi stated that the resort of many consumers to relying on electronic shopping reduced the random and excessive consumption of goods and the accumulation of goods, despite the lack of a need for them, especially in light of the absence of many social events, such as weddings and family gatherings, as a commitment to social distancing.

And he indicated that several factors supported this new trend, especially in the early days of the Corona crisis, most notably the unavailability of some goods, the disruption of global supply lines, in addition to the high prices of some commodities, and the preference of some countries to reduce exports due to lack of production, what caused the change in consumer behavior. .

He added that some behaviors, such as reducing the purchase of luxury goods, may be temporary, indicating that the method of purchasing some commodities and their quantities will definitely vary during the coming period.

The 10 changes

Purchase of discounted goods.

Avoid random purchases.

Give price priority.

Waning brand loyalty.

Eliminate luxuries.

Saving and not being wasteful.

Decline in entertainment spending.

Low demand for restaurants.

Not to travel abroad.

- Increased dependence on online shopping.

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