Covid-19's impact on consumer behaviour patterns

Last week the Commission published the new Key Consumer 2020 data following from the

Consumer Scoreboard 2020, which documents the changes in consumer behaviour during the pandemic, as it was conducted at the end of 2020. Interestingly, one of the emphasised by the report conclusions revolves around 'greener' consumption choices that have been made (see the press release here). This follows from the findings that 

• 56% of consumers said that 'environmental concerns influenced their purchasing decisions', 
• 67% - 'bought products that were better for the environment, even if such products were more expensive', and
• 81% - 'shopped closer to home and supported local businesses 

Other interesting findings indicate the increase in the amount of consumers shopping online, unsurprisingly, as well as more concerns about the ability to timely pay bills. The latter may have contributed to the noted consumers' reluctance to make a major purchase. Covid-19 delayed also consumers in making travel plans.

What does not seem to have been influenced by the pandemic is the high level of trust consumers have in retailers. The extra time spent at homes during the pandemic also did not seem to have encouraged consumers to read upon their consumer rights - as only 27% showed the knowledge thereof. Consumers remain also reluctant to take actions when there are issues with their transactions.