Early lockdown in India helped contain mass transmission of COVID-19 as compared to other nations. However, it dented economic activity. India is now on the path of recovery with consumers adapting to the new normal and slowly shifting to cautious optimism.
The unprecedented nature of disruption has left a lasting impression on consumers’ minds and we believe consumer behavior will be remolded permanently. There is a higher focus on health and well being, spiraling adoption of e-commerce, as well as heightened demand for affordable, local, authentic and sustainable products.
Although many companies have found ways to manage short-term disruptions during the pandemic, they need to revisit existing business models to maintain relevance and withstand future disruptions. DOWNLOAD THE FULL EY REPORT HERE