The Impact of the Current Crisis Generated by the COVID-19 Pandemic on Consumer Behavior

Abstract

Abstract It is well known that the extent to which the supply manages to adapt to the demands and changes in consumer behavior is key to the success of a business or, in the current economic context, to the survival of a business. This paper aims to analyze the manner in which the perception and attitude of the individual towards risk causes major changes in its purchasing behavior and, implicitly, to identify the tools of marketing with a favorable impact on the consumer, in the economic and social context generated by the Covid-19 pandemic. Although the fear and concern generated by the current economic and social crisis are visibly affecting both social behavior in general, and purchasing behavior in particular, finding effective ways to inform and communicate with consumers to facilitate their access to up-to-date and highly accurate information is essential both to meet the growing need for information in conditions of risk and uncertainty, and to guide the purchasing decision towards the best alternative for the consumer.