Year-ender 2021: 'We will see whacky, fun, bizarre humour again' – Prasoon Joshi

Consumer behaviour was intriguing and brought many a moment of learning .

 

This is the time of conscious consumption, not necessarily conscientious consumption.

 

On the one hand, we have a large segment that in the pandemic phase heartrendingly contended with losing livelihood or drastic cuts. The changes in their consumption and buying behaviour are stark and apparent. 

 

There are others on the top of the pyramid where the income is not impacted, but extravagance opportunities have contracted. 

 

Then there is 'create more than you consume' millennials who want to focus on invention and actual value creation and not mere transactions.

 

It's the in-between segment that perhaps is displaying the more intriguing behaviour. For you see, there is a bit of all of the above into play here. Here the desire to spend- on exotic food, fashion, fun remains intact but finds more covert ways of playing out. There may be hesitation of going to a shopping mall, not for safety reasons alone but also to guard against appearing insensitive. To honestly declare you are shopping or in a fancy restaurant whilst talking to a friend or colleague dealing with health issues or having the driver and staff view the fancy packets is uncomfortable.

 

How the marketing and advertising industry straddled this dichotomous consumer behaviour of consumption without exhibition was interesting .

 

Year-ender 2021: 'TV and digital will grow and content will glow' – Megha Tata

 

Year-ender 2021: Swati Bhattacharya on the one thing that will drop from case videos