What is Consumer Preferences

This chapter addresses how the pandemic has transformed the world at a surprising speed in terms of consumer behaviors and applicable virtual strategies to capture new opportunities. Although there have been some short-term sharp declines in consumer spending, confident changes have been realized through consumers' evolution into “digitalization” or the use of contactless, functional, and appropriate business models. Accordingly, the pandemic has also brought digitalization forward for companies, making it almost obligatory. This chapter will also discuss exemplary, inspirational practices of companies that have developed business models, products, and services by managing changes accelerated by the pandemic.