A Study On Challenges Faced By Luxury Car Brands And Buying Behavior Of Customers During Pandemic In Hyderabad

Abstract

This study examines the impact on the luxury car brands and buying behavior of the consumers during the COVID-19 in Hyderabad district. In this article it is observed that many luxury car retail stores have boosted their sales through e-commerce and the buying behavior of the consumers have taken a turn during the pandemic. This study will also share the information of the strategies used by luxury car brands and changes in consumer buying pattern during and before the pandemic. The following article is aimed at understanding what strategies brand can employ in order to survive in a post-pandemic future. This situation served as a catalyst to accelerate some of the True Luxury Consumer trends that were beginning to gain popularity in the past few years, such as the prioritization of experiences over physical items, resulting in a tendency towards minimalism; the increased interest in sustainability, ethics, and the Corporate Social Responsibility commitments of brands; the enhanced use of online distribution channels, and the consequential need for a seamless omnichannel strategy which could effortlessly and efficiently replicate the offline, in-store experience on digital platforms. The pandemic has highlighted a series of issues in society, healthcare, and businesses; the consequences of these issues have been tragic, but also eye-opening for brands as well as consumers. In the clients’ perspective, big companies hold the responsibility to not only provide a product or a service, but also to be helpful assets to their communities. Brands should live up to these expectations, not just to survive in the “new normal”, but also to genuinely help build a better future once the dust settles.