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Consumer psyche to witness a paradigm shift post-COVID-19: LIVA study

Consumer psyche to witness a paradigm shift post COVID 19 LIVA studyFor any retailer, it is important to be compassionate towards consumer’s thoughts and feelings. With this in focus, LIVA, an ingredient fabric brand from the Aditya Birla Group alongwith MRM, the digital arm of Mccann World Group, has released a research report ‘A Brave New World.’ The report aims to understand the mindset of consumers and help partner brands and other stakeholders.

Focus on digital experiences to grow

The idea behind conducting the study was “to feel the pulse of its audience which would enable it to deal with the currentConsumer psyche to witness a paradigm shift post COVID 19 LIVA pandemic,” explains Srishti Sawhney, President and Global Brand Head, Pulp & Fiber Business, Grasim Industries. The report, divided into three broad categories highlights how the lockdown has changed lives and the fashion industry’s reaction to it. It also outlines possible consumer sentiment post-lockdown and brands future strategies.

The report states, in future, fashion leaders will focus on using natural, durable and bio-degradable materials. “Brands and companies will focus on digital and virtual experiences. There will be a rise in virtual shopping stores and models who try on clothes through the screen etc,” opines Rishi Sharma, Assistant Vice- President Marketing, Birla Cellulose and Head Digital Department, LIVA.

A decline in online shopping

Giving a bigger push to the discount culture, around 35 per cent respondents said they now prefer buying clothes at discounted rates. They were also eagerly looking forward to things going back to ‘normal’.

Contrary to popular belief, around 30 per cent respondents did not prefer shopping online with 40 per cent even willing to delay their clothing purchases. However, social media engagement of consumers has been higher with 49 per cent terming it as their go-to solution for boredom. The entire fashion industry has come together to support the cause of staying indoors and salute frontline workers on social media.

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