IMPACT OF COVID-19 ON INDIAN HOUSEHOLD CONSUMPTION PATTERNS

Abstract

In order to slow down the spread of COVID-19, the Indian government imposed a nationwide lockdown in various phases from March 25, 2020. As a result of the lockdown, many people lost their jobs and thus their income. The study is important to find the actual reason for household consumption patterns and how covid 19 impacted it. What were the main reason for such a consumption pattern and how has it impacted the economy in the whole. It was discovered that epidemics and pandemics significantly affect India's consumption patterns. The study finds that during the early phases of epidemics and pandemics, consumers turned to panicked buying. Consumer buying patterns were discovered to have drastically changed, and they were now focusing almost exclusively on necessities.