Corona Virus Pandemic Impacts on Economy

The pandemic we are experiencing now that is caused by a Corona Virus Disease (COVID-19) has devastated many people. However, we still are limited in acquiring the information about many sides and effects that this virus caused to our life, society and even our planet. Finding that kind of information requires some of the expertise as well as the knowledge that understands every factor related to the subject.

David Utley, Consumer Analyst at GlobalData, said:
The subject of corona is very serious and that is not going to change anytime soon, however the environmental impact is a positive one. This reaction to such a serious issue, such as regional lockdowns and limited consumer movement, has done more for the environment than years of environmental campaigning. There is a serious question here. Will we as consumers change as a result of this truly awful crisis?

He said that many countries are applying the lockdowns method to limit the spread of the virus. However, this move also brings a more positive effect on the environment, which is more than the years of effort to campaign for saving our environment. However, he also doubts that the consumer will truly change in the future after this crisis is over.

GlobalData also provides information about this change in the UK region. It said that 45% of consumers start to buy products that don’t cause any harm to the environment. And, among that number, 41% of it stated that they are interested to do this environmentally friendlier buying activity. It means that there is a chance they will change.

Even though it starts to show a good sign, Utley also said that there is a chance it will go back like before. After the crisis is gone, he predicted that consumers will start to “compensate” for what they lost during the crisis. So, the bad habit of this past will happen again. Moreover, the company will start to overproduce the product to fulfill the demands of the consumer. This situation also brings another damage to the environment, which makes the positive effect that happens during the crisis, mostly will disappear.



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