Have you noticed a change in your spending?
Ever since the COVID-19 pandemic hit, things have changed — mostly for the worse, with Indians everywhere losing people they love and care about. However, there are some things that will never go back to being the same. This is simply the new ‘normal,’ whether we like it or not. Today, at Zippy Opinion, one of the best-paid survey sites in the world, we explore what has stayed the same and what’s changed when it comes to our spending on different commodities.
How is the new normal different from the old one?
As a society, we have always adapted in the past and we will continue to adapt in the future as well. We went from using paper to typewriters to computers to smartphones in such a short duration of time. However you look at it, we fit in with the new norm whenever the world around us changes — whether that be due to natural occurrences or human-made ones. Anyhow, without any further ado, let’s start, shall we?
#1 The Cinema Experience – Theatres vs OTT Platforms
Back in 2019 and early 2020 (which seems like such a long time ago!), we remember flocking to movie theatres and multiplexes to watch our favourite actors and actresses in action on the big screen. Now, there’s barely a handful of people even going to theatres. Why? Because everyone has accounts on Netflix, Hotstar, and Amazon Prime Video, which have hundreds and thousands of movies and TV shows at the tip of our fingers. All this for a fraction of the price that we pay to watch a movie in theatres. We have to admit that there’s a certain joy in watching a movie in a theater with your loved one.
Well, on the bright side, at least we don’t have to buy overpriced theatre food!
#2 Working Habits – Office vs WFH Setup
For introverts, working from home has become a dream come true! After all, being with their own thoughts and socializing within their inner circle is what they thrive on. For extroverts, this was hell! However, people respected the rules set by the government and stayed at home until the rules were eased.
Regarding work, some who loved interacting and working in tandem in teams found it challenging to work remotely during the lockdown phase. But the show (work) must go on, and hence they adapted using different methods to keep in touch with their colleagues, even if remotely. Emails and message groups were the major ways to communicate, other than video calls (Zoom’s stock rose to new levels never seen before!). But no matter what, everyone agrees that work emails were a pain to reply to all the time, and dealing with clients became even tougher.
#3 Shopping
Shopping took another turn with the pandemic. Buying all your favourite things at the local brick-and-mortar store wasn’t really an option anymore. Although people still love shopping offline, online shopping increased by great numbers and that hasn’t stopped even today. The numbers are only increasing and won’t go down anytime soon with more and more people getting smartphones and apps that allow them to shop online for everything — from something as small as groceries to major furniture pieces. In fact, there was a new trend called ‘Revenge Shopping’ after the pandemic protocols were eased. This is what revenge shopping is — after many months of not going out and spending money on anything, people were flush with cash and wanted to spend lavishly, maybe on a new wardrobe or even a car. So they spent heavily to compensate for the fact that they weren’t able to or allowed to spend during the trying times.
#4 Online Earning
Indians started discovering new ways to earn money online. Whether that is taking surveys for money, affiliate marketing, or even selling pictures online, people found new ways to earn as well as amplified existing online earning platforms. In fact, more and more Indians became tech-savvy by exploring online earning methods. A major boom was created during the pandemic.
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#5 Travel
Travel went down by quite a bit in 2020! And it is obvious to see why it dropped so drastically. While the lockdown norms and travel restrictions were the apparent reasons for the decline, people still did not go out as much due to ‘corona-phobia,’ and rightly so. People weren’t just worried about themselves, but also about those near and dear to them. Many ended up saving money to travel a bit once some of the COVID norms and restrictions were eased.
Aaaaand that’s a wrap!
That concludes our article on how Indian consumers’ spending habits changed from 2020 to 2021. We hope you enjoyed reading this blog. If you did, give us your thoughts in the comments section below and we’ll have a discussion if you have more points to add or anything at all. Till next time!
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