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also changed the way we work, communicate, interact, and shop more than any other disruption in the decade.<\/p>\nCOVID-19 has taken the world by a storm. Financial markets, manufacturing, services, and tourism have been hit hard.\u00a0 In fact, it has also changed the way we work, communicate, interact, and shop more than any other disruption in the decade.<\/p>\n
As a result, there have been key changes in Consumer Behavior. There is a growing reluctance to visit crowded places, the increasing shift of work from the office to home, and the higher propensity for digital adoption and Digital Transformation<\/a>.\u00a0 The changes are inevitable. For businesses to stay relevant, businesses have to adjust to the new norms.<\/p>\n We are now entering the Low Touch Economy, a new normal where there are behavioral shifts and entirely different rules and policies.<\/p>\n A new economy will be shaped as a result of new habits and regulations. There will be reduced close-contact interaction, tighter travel, and hygiene restriction.<\/p>\n The global economy will transition into a Low Touch Economy as an aftermath of the COVID-19<\/a> 2020 crisis.\u00a0 A Low Touch Economy will be characterized by entirely different rules and policies, habits, and behaviors. New rules and policies will be passed that will limit the number of people gathering, restrict travels, hygiene requirements, and strict adherence to practices that will ensure the protection of vulnerable groups.<\/p>\n In the work organization, there will be more people working from home and there will be a greater need for access to e-commerce and logistics.\u00a0 With the Low Touch Economy, traditional business and lifestyle norms will be greatly challenged and behavioral shifts occurring.<\/p>\n While COVID-19 has made a great dent in the global economy, it has also triggered a shift in human behavior. There are 10 trends in Consumer Behavior driven by COVID-19<\/a> that are becoming more and more prevalent.<\/p>\n Let us take a look at the first 4 Trends in Consumer Behavior.<\/p>\n Trend 1: Mental Health<\/strong><\/p>\n As a result of COVID-19, there is an increasing state of anxiousness, loneliness, and depression.\u00a0 People have started feeling isolated, experiencing lower productivity, and even loss of a job. Relationships have also been affected and the cost of healthcare increased.<\/p>\n Trend 2: Hygienic Concerns<\/strong><\/p>\n The second trend is geared more on limiting COVID-19 exposure on the job.\u00a0 It is the ability to respond to varying levels of disease transmission through prevention and control measures.<\/p>\n As a result of this trend, there has been increased caution when interacting with people and products.\u00a0 In fact, establishments, offices, and even individuals are increasingly demanding for formal proof of hygiene and current health status.<\/p>\n Trend 3: Travel<\/strong><\/p>\n Travel and Tourism is the trend that has the biggest impact as an industry.\u00a0 There are now extended travel restrictions, even within one\u2019s country.<\/p>\n We can expect local tourism to flourish and there will be longer extensive holidays with quarantine taken into consideration.<\/p>\n Trend 4: Working from Home<\/strong><\/p>\n Trend 4 is a COVID-19 preventive measure that used to be an office perk.\u00a0 There is now a need to optimize remote work<\/a> home setups, which are beyond typical office jobs. As a result of this trend, individuals and families will start figuring out news ways to balance work-life needs within the confines of home.<\/p>\n With more people working from home, we can expect a reduction in office space and infrastructure.\u00a0 At the home front, there will be the presence of special equipment, machines, and advanced video\/audio setups to accommodate the change in lifestyle.<\/p>\n There are 6 other trends on Consumer Behavior that have propped up as a result of the COVID-19 pandemic. With these trends, there are response mechanisms we can expect from organizations, families, and even individuals.<\/p>\n With the changes that the COVID-19 pandemic has brought, we can expect organizations to come up with response mechanisms that will address concerns arising from these trends. Relative to mental health, risk-stratified crisis counseling needs to be initiated as additional support to employees. In fact, it is essential that organizations provide comprehensive benefits for their employees that will center on mental health.<\/p>\n For each trend, a corresponding response mechanism must be put in place if we are intent on ensuring the well-being of our employees and the continuity and stability of our organization.<\/p>\n Interested in gaining more understanding of 10 trends in COVID-19-driven Consumer Behavior<\/a>? You can learn more and download an editable PowerPoint about COVID-19: 10 Trends in Consumer Behavior<\/strong> here <\/a>on the Flevy documents marketplace<\/a>.<\/p>\n You can download in-depth presentations on this and hundreds of similar business frameworks from the FlevyPro Library<\/a>. FlevyPro<\/a> is trusted and utilized by 1000s of management consultants and corporate executives. Here’s what some have to say:<\/p>\n “My FlevyPro subscription provides me with the most popular frameworks and decks in demand in today\u2019s market. They not only augment my existing consulting and coaching offerings and delivery, but also keep me abreast of the latest trends, inspire new products and service offerings for my practice, and educate me in a fraction of the time and money of other solutions. I strongly recommend FlevyPro to any consultant serious about success.”<\/p>\n \u2013 Bill Branson, Founder at Strategic Business Architects<\/p>\n<\/blockquote>\n “As a niche strategic consulting firm, Flevy and FlevyPro frameworks and documents are an on-going reference to help us structure our findings and recommendations to our clients as well as improve their clarity, strength, and visual power. For us, it is an invaluable resource to increase our impact and value.”<\/p>\n \u2013 David Coloma, Consulting Area Manager at Cynertia Consulting<\/p>\n<\/blockquote>\n “As a small business owner, the resource material available from FlevyPro has proven to be invaluable. The ability to search for material on demand based our project events and client requirements was great for me and proved very beneficial to my clients. Importantly, being able to easily edit and tailor the material for specific purposes helped us to make presentations, knowledge sharing, and toolkit development, which formed part of the overall program collateral. While FlevyPro contains resource material that any consultancy, project or delivery firm must have, it is an essential part of a small firm or independent consultant’s toolbox.”<\/p>\n \u2013 Michael Duff, Managing Director at Change Strategy (UK)<\/p>\n<\/blockquote>\n “FlevyPro has been a brilliant resource for me, as an independent growth consultant, to access a vast knowledge bank of presentations to support my work with clients. In terms of RoI, the value I received from the very first presentation I downloaded paid for my subscription many times over! The quality of the decks available allows me to punch way above my weight \u2013 it’s like having the resources of a Big 4 consultancy at your fingertips at a microscopic fraction of the overhead.”<\/p>\n \u2013 Roderick Cameron, Founding Partner at SGFE Ltd<\/p>\n<\/blockquote>\n “Several times a month, I browse FlevyPro for presentations relevant to the job challenge I have (I am a consultant). When the subject requires it, I explore further and buy from the Flevy Marketplace. On all occasions, I read them, analyze them. I take the most relevant and applicable ideas for my work; and, of course, all this translates to my and my clients’ benefits.”<\/p>\n \u2013 Omar Hern\u00e1n Montes Parra, CEO at Quantum SFE<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":" COVID-19 has taken the world by a storm. Financial markets, manufacturing, services, and tourism have been hit hard.\u00a0 In fact, it has also changed the way we work, communicate, interact, and shop more than any other disruption in the decade. As a result, there have been key changes in Consumer Behavior. There is a growing… COVID-19: 10 Trends in Consumer Behavior<\/span><\/a><\/p>\n","protected":false},"author":111,"featured_media":6845,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","footnotes":""},"categories":[85,81],"tags":[2047,917,2043,2048],"class_list":["post-6841","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-organization","category-strategy","tag-10-trends-in-consumer-behavior","tag-digital-transformation","tag-low-touch-economy","tag-working-from-home"],"_links":{"self":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/6841","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/users\/111"}],"replies":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/comments?post=6841"}],"version-history":[{"count":10,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/6841\/revisions"}],"predecessor-version":[{"id":7991,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/6841\/revisions\/7991"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/media\/6845"}],"wp:attachment":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/media?parent=6841"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/categories?post=6841"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/tags?post=6841"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}A Glimpse of the Low Touch Economy<\/strong><\/h2>\n
The 10 Trends in Consumer Behavior<\/strong><\/h2>\n
![\"\"](\"https:\/\/flevy.com\/blog\/wp-content\/uploads\/2020\/06\/pic-2-COVID-19-10-Trends-in-Consumer-Behavior.png\")
<\/a><\/p>\nWhat to Expect<\/strong><\/h2>\n
Do You Find Value in This Framework?<\/h2>\n