May 19th, 2020 | Updated on June 27th, 2022
COVID-19 has had a drastic impact on the world and the manner in which work processes are executed.
According to a McKinsey survey conducted Canadian customers are showing a change in the way they perceive the brands and overall impact of COVID-19.
1. Among the people questioned a considerable population i.e. one-fifth of them said they are optimistic that the economy is going to rebound soon and things would attain normalcy.
2. A separate segment has however cut back on their spending since there are no assurances of the money coming.
3. In fact, a third of participants witnessed a decline in their earnings and savings in the last two weeks.
4. Consumers are expecting that this dip would be seen in other categories like apparel and jewelry too.
5. Apart from that Canadians say that they would reduce online shopping too until it is for online entertainment products.
6. Most of them feel that the time they have is going to be spent on doing household chores like cleaning and cooking.
7. One thing that is really bothering the Canadians is the uncertainty over the entire matter and public health as well as the status of the economy.
8. This situation many believe is going to last for at least 4 months or more.
9. However, Canadians are not losing focus and are becoming quite tech-savvy. They have adopted technologies like online grocery ordering and video conferencing to get their jobs done efficiently.
10. Some of them have changed their favorite brands and retailers in keeping with the latest times.
11. Though they are expecting to return to grocery buying from stores other in-person activities are going to be majorly affected.
12. Consumer behavior is going to change towards digital modes of entertainment. This is because you can access them even from the convenience of their homes. In fact, online casinos help you in fulfilling your desire to gamble along with some brilliant features that are otherwise not available.
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13. Alongside the growing need for telemedicine, curbside pickup, and remote learning is there but it is highly unlikely that people would continue pursuing it in the future.
So once COVID-19 is gone it would be tough to retain people to indulge in these activities. Some activities would continue to gain prominence while others would die a slow death.