CONSUMER’S IMPULSIVE BUYING BEHAVIOR ON E-COMMERCE PLATFORM: AN EXPLORATORY STUDY ON THE INFLUENCE OF EXTERNAL AND INTERNAL FACTORS
The COVID-19 pandemic has shaken up the world with a rising number of cases. In order to flatten the curve, the government has imposed some practices like social distancing and lockdown which has confined the consumers or citizens in the four walls of their houses. With the current unexpected crisis and the change in consumer behavior, the marketer needs to understand these changes and lay down innovative strategies and make appropriate informed decisions in the way consumers do their shopping for any product or service. This study aims to analyze the data using Quantitative Analysis, Correlation and Factor Analysis to find the correlation between variables and also the factors which indicate the changes in consumer behavior because of COVID-19 and how various sectors were impacted because of the changes in consumers. The sectors selected in this study were as such which showed maximum changes or variations in the consumer buying behavior. These sectors are 1) Healthcare 2) Pharmacy 3) FMCG 4) Telecommunication 5) Over-the-top 6) E-commerce. This study also focuses to help marketers to form appropriate marketing strategies and make informed decisions aiming to sustain in such hard times. The data to conduct the study was collected through a questionnaire survey from 200 respondents residing in Maharashtra state within 16-64 years using Google forms. A sample size of 200 was selected as it is sufficient enough to conduct the study and an acceptable margin for any errors or falls. The findings of the study indicated panic buying among the consumers during crisis time and most of the consumers inclined to spend money on products of the healthcare and pharmacy sector.