Title: Coping with the dark shadows: consumer response to financial hardships during a health pandemic

Authors: Meenakshi Handa; Swati Jain

Addresses: University School of Management Studies, Guru Gobind Singh Indraprastha University, New Delhi, India ' University School of Management Studies, Guru Gobind Singh Indraprastha University, New Delhi, India

Abstract: This study examines the urban Indian consumer's response to the financial challenges posed by the health pandemic. A qualitative research approach is adopted wherein adults aged between 18 to 39 years respond to a set of open-ended questions in an online mode. The findings indicate that more than half the respondents suffered some degree of financial hardships in their daily lives during the pandemic. A substantial section of the respondents experienced an effect on their psychological well-being. There is a sense of financial insecurity about the future pertaining to incomes and jobs. However, there appears to be some silver lining to the experiences during the pandemic. Consumers report on making some healthy lifestyle changes and also a conscious move towards bringing in more positivity in their worldview. Strategies and interventions focusing on coping with the adversities caused by the pandemic and on enhancing individual sense of financial well-being are presented.

Keywords: financial well-being; COVID-19; economic uncertainty; positivity; psychological stress.

DOI: 10.1504/IJBFMI.2023.131748

International Journal of Business Forecasting and Marketing Intelligence, 2023 Vol.8 No.3, pp.193 - 211

Received: 20 Jul 2022
Accepted: 22 Jul 2022
Published online: 30 Jun 2023 *

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