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PBME Volume IV ISBN: 978-81-951151-2-9
Author(s): DR. MOHAMMED MAJEED & DR. ABUBAKARI ABDUL RAZAK & AHMED TIJANI
Abstract
The current chapter intends to look into the effect of COVID-19 pandemic on firms, the practices of consumers and the new business practices by firms. The effects of COVID-19 on consumer and consumer practices include: online purchases; compulsive hoarding; the store comes home; blurring of work; reunions with friends and family; improvisation; and discovery of talents. Also, the new business practices adopted by firms include: technology; employee management and cost-cutting; new product development opportunities; cleanness and hygiene; delivery; and meetings held by firms. Research has demonstrated that the pandemic has affected consumer behaviour. Many firms are therefore (have) innovated (innovative) in order for them to adapt to new conditions. The epidemic has greatly affected all states, continents, regions, urban and rural communities, families, and, inevitably, each person's thoughts and way of living, and we may never return to the normalcy that existed prior to COVID-19.
Keywords: COVID, business practices, Consumer behavior, consumer practices, consumer habits
JEL Classification: M31, M10
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