Influence of covid – 19 on world economy and impact of consumer response to global industry

The emerging unfavorable conditions of financial destabilization due to COVID-19 around the globe have exacerbated the life of the populace. It is too early to share statistics on the length and depth of economic damage due to the COVID-19 pandemic, yet economic analysts expect an extremely negative impact on the worldwide economy. The world’s stable economies such as the US, China, UK, Germany, France, Japan, and various others are highly affected by the current pandemic 2020. The findings of current paper have highlighted that the purchasers are profoundly worried about the effect of COVID-19, from health and financial point of view. Individuals are reacting in an assortment of ways also, have diverse mentalities, practices, and buying propensities. Moreover, the investigation shows that new propensities have shaped the customer’s mind in certain way, as restriction lift and pockets of spending return crisis circumstances have changed consumer behavior;how and where we shop and, how we live and work. The paper has concluded that organizations should concentrate on purchaser situated interest and supply ought to fulfill the client’s need once the economic cycle resumes. In a shorter period, this pervasive absence of customer certainty delineates the test ahead once we are prepared to “restart” the economy. © 2021, Ashwin Anokha Publications and Distributors. All rights reserved.