Risk Based Approach to Documenting Consumer Behavior Changes During the Covid-19 Pandemic

Abstract

Background: People´s consumer behavior was significantly influenced by the Covid-19 pandemic. Nowadays, the impact still persists, and we can say that people changed the way how they think, shop, and what affects them while shopping. Aims: The aim of the article and our research is to identify and analyze the risks related to consumer behavior changes during the COVID-19 pandemic. Methods: To achieve the goal, survey research was conducted between the years 2021 and 2023 and, in use of SPSS Statistics, analyzed obtained data. To identify the representativeness of the sample file, the Chi-square test was used. Consequently, several contingency tables were created to analyze the set questions. Sample: The sample file consisted of Slovak consumers. Results and Conclusions: According to research findings, it can be concluded that the COVID-19 pandemic changed human thinking about such as common things like ways of shopping, consumption, or savings irretrievably. Implications: Overall, the COVID-19 pandemic created new challenges for both enterprises and consumers, however, many organizations managed to overcome them and adapt to continue to bring value to societies.