The outbreak and declaration of COVID-19 by the World Health Organization (WHO) as a global pandemic has had major effects on many stakeholders of the world economy, one of whom is the consumer. This perspective therefore intends to inform on the incidence of COVID-19 and report on consumers reaction and response.
Cite this paper
Abigail, N. and Zheng, J. (2021). Consumers Reaction and Response to Covid-19. Open Access Library Journal, 8, e6960. doi: http://dx.doi.org/10.4236/oalib.1106960.
Satoshi, K., Kaori, K., Takemasa, T. and Yoichi, U. (2020) The Impact of COVID-19 on US Consumer Spending: Quantitative Analysis Using High-Frequency State- Level Data. Bank of Japan Review.
International Labour Organization (ILO) (2020) COVID-19 and the World of Work: Impact and Policy Responses, ILO Monitor.
http://ilo.org/global/topics/coronavirus
Shereen, M.A., Khan, S., Kazmi, A., Bashir, N. and Siddique, R. (2020) COVID-19 Infection: Origin, Transmission, and Characteristics of Human Coronaviruses. Journal of Advanced Research, 24, 91-98. https://doi.org/10.1016/j.jare.2020.03.005
Coibion, O., Gorodnichenko, Y. and Weber, M. (2020) The Cost of the Covid-19 Crisis: Lockdowns, Macroeconomic Expectations, and Consumer Spending. NBER Working Paper 27141. http://www.nber.org/papers/w27141
https://doi.org/10.3386/w27141
Andersen, A.L., Hansen, E.T., Johannesen, N. and Sheridan, A. (2020) Pandemic, Shutdown and Consumer Spending: Lessons from Scandinavian Policy Responses to COVID-19. https://arxiv.org/abs/2005.04630
Baker, S., Farrokhnia, R.A., Meyer, S., Pagel, M. and Yannelis, C. (2020) How Does Household Spending Respond to an Epidemic? Consumption during the 2020 CO- VID-19 Pandemic. Working Paper. https://doi.org/10.3386/w26949
Chen, H., Qian, W. and Wen, W. (2020) The Impact of the COVID-19 Pandemic on Consumption: Learning from High Frequency Transaction Data. Working Paper. https://doi.org/10.2139/ssrn.3568574
Atkeson, A. (2020) What Will Be the Economic Impact of COVID-19 in the US? Rough Estimates of Disease Scenarios. National Bureau of Economic Research Working Paper Series, No. 26867. https://doi.org/10.3386/w26867
Ang, S.H. (2001) Personality Influences on Consumption: Insights from the Asian Economic Crisis. Journal of International Consumer Marketing, 13, 5-21.
https://doi.org/10.1300/J046v13n01_02
Bernanke, B. (2010) Monetary Policy Objectives and Tools in a Low-Inflation Environment. Conference on Revisiting Monetary Policy in a Low-Inflation Environment, Boston, October 2010, Vol. 15, 1-8.
Lettau, M. and Sydney, L. (2004) Understanding Trend and Cycle in Asset Values: Reevaluating the Wealth Effect on Consumption. American Economic Review, 94, 276-299. https://doi.org/10.1257/000282804322970805
Lastovicka, J.L., Bettencourt, L.A., Shaw Hughner, R. and Kuntze, R.J. (1999) Lifestyle of the Tight and Frugal: Theory and Measurement. Journal of Consumer Research, 26, 85-98. https://doi.org/10.1086/209552
Urbonavicius, S. and Pikturniene, I. (2010) Consumers in the Face of Economic Crisis: Evidence from Two Generations in Lithuania. Economics and Management, 15, 827.
Kang, S.J. and Sawada, Y. (2008) Credit Crunch and Household Welfare: The Case of Korean Financial Crisis. Japanese Economic Review, 59, 438-458.
https://doi.org/10.1111/j.1468-5876.2008.00429.x
Carrigan, M. and de Pelsmacker, P. (2009) Will Ethical Consumers Sustain Their Values in the Global Credit Crunch? International Marketing Review, 26, 674-687.
https://doi.org/10.1108/02651330911001341
Kwak, I.S., Song, Y.S. and Kim, K.A. (1999) The Financial Crisis Effects on the Family Life: A Comparison between before and after IME. Journal of Korean Home Economics Association, No. 17, 121-137.
Valeria, Kaliji, S.A. and Schimmenti, E. (2020) COVID-19 Drives Consumer Behaviour and Agro-Food Markets towards Healthier and More Sustainable Patterns. 2-26. http://mdpi.com/journal/sustainability
McKenzie, D.J. (2006) The Consumer Response to the Mexican Peso Crisis. Economic Development and Cultural Change, 55, 139-172.
https://doi.org/10.1086/505721
Hanspal, T., Weber, A. and Wohlfart, J. (2020) Income and Wealth Shocks and Expectations during the Covid-19 Pandemic. CEBI Working Paper Series 13/20, Department of Economics University of Copenhagen, København.
https://doi.org/10.2139/ssrn.3578472
