Changing consumer preferences during Covid times: A paradigm shift towards healthy homes

How Fintech players are changing the way credit is perceived in India

Many credit phobic persons pay for newspaper, domestic help, milk etc at the end of every month, oblivious of the fact that they are availing the goods and services on credit.

After the advent of Corona, homebuyers have prioritized cleanliness and healthy surroundings in their home-hunting and projects with these healthy lifestyles would become the most preferred choice for many.

COVID 19 has changed our lives in different ways. While initially, the challenge was fighting against the virus, it is established now that this is the new normal. No one knows how long the current wave will go on. However long it goes, COVID 19 has already affected our lives to a great extent. We are already historically the most indoor culture of humankind, but due to the COVID-19 pandemic, activities that used to take us outside such as exercising, commuting, grocery shopping, have now gone indoors for many. Our heightened sense of health has us asking millions of new questions about this new state of living, from the air we breathe to how we should best manage our well-being at this time.

There is certainly more focus on overall hygiene after the outbreak of the virus. Individuals are paying attention to washing or sanitizing their hands more often. Now that the lockdown has been relaxed in many parts of the country and people are venturing out of their homes, commonly used surfaces like the door handle, elevator buttons, work areas, shops will see more disinfection and sanitizing happening. The one thing that is now clear is the importance of maintaining good health and immunity. Most of the deaths due to the virus have been linked to co-morbidities or those with existing diseases like diabetes, hypertension, etc.

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The pandemic highlighted the important link between air pollution and mortality from COVID-19: higher levels of indoor and outdoor air pollution exacerbated the health impacts of the pandemic.

Healthy lifestyles are relevant to several diseases and to maintain individuals’ mental health. We are currently living through some extraordinary times, where all of us are experiencing significant changes to our everyday lives. As India continues to take steps to curb the spread of the COVID-19 pandemic, there seems to be a huge shift in consumer preferences with a surge in demand for a healthy lifestyle and most importantly healthy homes and these changes will last well even after the situation improves.

The mindsets of consumers are rapidly changing, and this trend is quite apparent in the residential segment. People living in rental accommodations have started looking for properties that fit their budgets, and are well-maintained in terms of hygiene and cleanliness. These months of lockdown have been difficult for the tenants staying and working in their confined spaces, they have utilized this time in exploring properties on digital platforms, taking virtual tours in place of site visits to get a real-time experience.

How much gold should you have in portfolio in economic downturn?

Gold, as an asset class, is a hedge against inflation and provides diversification when equities are not doing well. It does not have cash flows like equity and debt assets. That said, historically, gold has proven to have a store of value.

Developers have analysed this trend of a healthy lifestyle and have shifted their interests towards creating projects that fulfil the changing needs of new-age buyers in post-Covid times. Projects like integrated townships are in huge demand, due to the facilities like recreation, parks, gardens, daily essential stores all located within the society premises. Developers are all set to embrace the changing needs and mindsets of buyers and are working towards customizing their projects. COVID 19 has made people realize the importance of living in a pollution-free and healthy environment. Now the homebuyers looking to buy a property want to invest in societies that provide healthy amenities along with the increased green cover. Sports and fitness activities will also form an important part of the daily lifestyle to nurture strong immunity. Eating habits will also undergo a transformation for a healthy lifestyle, in-house farming concept to produce organically edible products will be adopted by conscious communities. Zero discharge development for controlling and processing the waste generated will be in huge demand for the betterment of the environment. After the advent of Corona, homebuyers have prioritized cleanliness and healthy surroundings in their home-hunting and projects with these healthy lifestyles would become the most preferred choice for many.

The COVID -19 pandemic has fundamentally changed the world as we know it. People are living differently and, in many ways, thinking differently. Consumers across the globe are looking at products and brands through a new lens. The virus is reshaping the industries in real-time, rapidly accelerating long-term underlying trends in the space of mere weeks. Few of the research indicates that new habits formed now will endure beyond this crisis, permanently changing what we value and how we live and work. Human beings are amazing at adapting to any kind of environment, so even before we realize it, all these lifestyle changes will seem to be the new normal.

– By Faizal Roshan – Vice President – Business Operations & HR, JP Infra Mumbai

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How to make your money work for you in 2021: Here are top 12 deposit schemes for conservative investors

Moving money from your bank savings account into one or more of these will yield relatively high returns and will help you meet your long-term goals as well.