How the Pandemic has Impacted Consumer Behavior
How the Pandemic has Impacted Consumer Behavior

Covid-19 pandemic shook the entire world to the core with our foundation and structure crumbling down under immense pressure. Other than the physical aspects and implications of the pandemic on the population, there was a distinguished mental change in the outlook and perception as well.

With the disease wreaking havoc manifolds all over the world, a conscious shift in choices, decisions, and analysis was felt wherein, the focus on well-being and health drastically changed. This shift brought with it a positive change in terms of safety and health being of paramount importance and people consciously shifting towards a healthier, greener and purer alternative to everything, be it food, clothing, the shopping process, or their morning coffee!

With this sudden frenzy around well-being, the need and demand for pure, natural, ethical, and safe brands have been brimming, with consumers ready to pay a higher price in order to indulge in more natural alternatives. 

We, at OneGreen have surely felt the spike in the aforementioned demand given the 300 percent month-on-month growth that we have been witnessing since the time we launched. 

Other than the consumers, the brands have also witnessed this sudden switch in the market space which has stipulated a change in their product category as well as production, packaging, and sourcing processes. Due to the constant questioning about the brand ethos, carbon footprint, sourcing methods, and much more, the brands have been forced to issue a much greater sense of transparency and the need for repositioning their stance in a greener world has been on the rise. 

The phrase, ‘you are what you eat’, has never held greater semblance than what it does in the current times. As the need for fitness and immunity building has been rising like never before, a switch in healthier eating habits was an obvious phenomenon that occurred. In addition to parents seeking safe and natural plastic-free toys for their kids from pre-pandemic times, there has also been a growing worry and despair in parents to ensure that their children are indulging in healthier eating habits because of which they are ready to part with a higher price if it means a more natural and pure choice. 

One extremely instrumental shift that the pandemic has brought forth is the necessary transfer from a physical shopping experience to that of a digital/ online one. Convenience is the key in today’s ever-changing world and there can never be enough of it! 

With horizontal marketplaces, like the one we provide, the entire shopping experience has become easier, hassle-free, and can be undertaken in the comfort of one’s home. More and more people have been transitioning towards this digital medium and have gladly been accepting the comfortable change that has been bestowed upon them. 

However, online shopping has also made it even more important for brands to divulge and attain full exposure about the product as there is no physical connection between the seller and buyer. This anonymity makes it crucial to curate and expand as much information as one can about their product and its features, to the best of their abilities. 

In our opinion, ‘OneGreenIndex’, our in-house verification tool is highly beneficial for the consumers as it is representative of the authenticity, purity, and safety of a product, thus, preventing them from pressing too deeply about the origins of a particular item. 

Lastly, there has been a paradigm shift in people’s perception wherein, they have been trying to achieve a balance between their home and work life. Therefore, this balance has given way to numerous forms of home workouts ranging from yoga to pilates, running, and many more. 

The pandemic has unquestionably changed the face of the planet and the atrocities have been innumerable. However, it has also led to a bright and positive change in the way people have been living and making choices, which are sure, greener, cleaner, healthier and purer now!
 

 
Stay on top – Get the daily news from Indian Retailer in your inbox
Most of Our Products are Built in India: Puneet Chandok of Microsoft India
Most of Our Products are Built in India: Puneet Chandok of Microsoft India
 

In a spirited discussion on AI and the retail industry, Puneet Chandok, President of Microsoft India and South Asia delved deeply into India's role in transforming the world through Artificial Intelligence and technology enablement. He discussed Microsoft's commitment to India, not only in training Indian talent but also in leveraging it.

On Monday, Prime Minister Narendra Modi had praised the Tech Entrepreneurs Association of Mumbai (TEAM) for hosting Mumbai Tech Week and their ongoing involvement in building tech startups in the country. During a panel discussion with Haptik CEO Aakrit Vaish at Mumbai Tech Week, Puneet Chandok, President of Microsoft India and South Asia, emphasized the transformative impact AI could have on various aspects of daily life.

Chandok stated, “When we look at India through the lens of demand, supply, and impact, there is no other market like India today. There are 7,000 listed companies in India and one hundred thousand startups. Many startups are in Maharashtra, and one hundred new startups are emerging in India every day. India is the largest SMB market globally, making it one of the most exciting markets today.”

He further added, “When we look at the supply lens and examine Microsoft's data, one out of four projects on AI in GitHub today is run out of India. Every sixth AI researcher in the world is from India. In the next ten years, 25 percent of the global workforce will come from India, meaning every fourth worker in the world will be from India.”

Discussing the growing influence and power of Artificial Intelligence, Chandok mentioned, “Last night, my 12-year-old daughter was creating text-to-video, and she told me that AI will change her life. She is an artist; she draws and paints. This also indicates how the younger generation perceives AI.”

Expanding on this, Chandok continued, “People will stop searching and instead have conversations. I have stopped searching myself; in fact, I was conversing with my Copilot to understand what is happening at the event and what I should speak about. We have shifted from searching to genuine conversations. This is not just chat drama anymore. These are sophisticated engines providing reasoning within.”

Regarding his personal perspective, Chandok remarked, “People say AI is overhyped, but I think it's not hyped enough. The next generation, which will use this in the next few years, will have much higher expectations of what technology can do for them. So, how you build it for that generation, how you build it for that future, will be really interesting to see."

Chandok also emphasized that those who do not embrace AI, risk falling behind in the rapidly evolving technological landscape. He encouraged Indian developers to seize the "lifetime opportunity" to become unstoppable by learning to use and deploy AI effectively.

He concluded, “If you are not learning AI, you are falling behind. I myself spend 30 minutes a day to learn more about AI. Technology is changing every day, and it has been 15 months since ChatGPT was launched. The speed of technology diffusion is unlike anything I have seen in my life, and it is advancing very rapidly. My call to action for everyone is to find a way to learn, otherwise, we will all fall behind.”

 

Next Story
Also Worth Reading