The recent COVID-19 pandemic has changed consumer psychology and purchase behavior. However, the impact is not limited to the epidemic itself. There are other factors, including personal factors, expectations, and timing. The article highlights some of these factors. Understanding their influence will help online marketers make better decisions.
Impact of the COVID-19 pandemic
The recent COVID-19 pandemic has spurred a meteoric rise in online purchases. With physical store visits limited and many consumers running low on cash, online purchases exploded. Even before the pandemic, consumers were becoming more discerning shoppers. However, the COVID-19 pandemic has made this process even faster.
During the pandemic, many brands shifted their relationship with consumers. They began offering gluten-free options or offering content on streaming platforms. But as the virus spreads, people’s purchase behavior may change. As a result, brands must adapt to these new patterns. This will enable them to anticipate changing consumer needs and rebuild relationships with them.
While this is not a comprehensive analysis of the impact of the COVID-19 pandemic on online shopping, previous research has shown that the disease affects online purchase intention. However, Nguyen et al. observed a stronger impact on online purchases in the United States compared to their results in the UK. The researchers suggest that COVID-19 may influence consumers’ decision-making by changing their perception of risk.
Influence of personal factors
Consumer buying behavior is shaped by many factors, including income, age, education, occupation, and life stage. These factors can help marketers create products that are appropriate for each stage of a customer’s life cycle. For example, the purchasing habits of a marketing manager are very different from those of a low-income worker. A marketing manager’s buying habits are largely influenced by his professional life, while a low-income worker is more likely to buy rugged work clothes.
A consumer’s purchase behavior is also influenced by the social environment. People are influenced by their reference groups, including subcultures of nationalities, religions, racial groups, and geographic locations. Each subculture has its values and norms, and these factors can influence consumer behavior.
Lifestyle is another important factor that influences buying behavior. Lifestyle information is important for marketing professionals because it enables them to understand what consumers want. For instance, a consumer might buy a product based on its reputation in her family. They may also prefer a particular brand because they purchased it when they were younger.
Influence of expectations
The influence of expectations on online marketing and consumer purchase behavior has been the subject of several studies. According to Lian and Yen, expectations play a crucial role in determining whether consumers will buy a product or not. They found that consumers expect to get information about a product through various channels. Each type of media has its characteristics and effects on consumer behavior. For example, television is better suited for product categories that require physical demonstrations. Radio, on the other hand, focuses on audio content and is more appropriate for local markets.
Consumers’ expectations are influenced by their social experiences and the brands they associate with. While price and quality are still the leading motivations for purchase, they now expect brands to make a positive social impact. Consumers are willing to pay more for a brand that has an obvious social impact. They also want to buy from a brand that has an impact on the community and is concerned about the environment. However, this means that companies have to think about the long-term value of their products or services to meet their consumers’ expectations.
Influence of timing
Timing can influence consumer purchase behavior in many ways. It can motivate people to buy something by focusing on a limited period, the threat of losing something, or the potential of waiting for something better to come along. It can also affect their perceptions of differences. Both of these factors can affect how and when they buy.