First Insight's Greg Petro on whether the coronavirus will permanently alter consumer behavior

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Greg Petro is CEO of First Insight

The one segment the pandemic has affected the most is millennials, according to newly concluded research from First Insight, a digital product testing and decision-making platform.

But what about the rest of the market, including the other generations will the coronavirus affect their behavior in the long term?

We posed three quick questions to Greg Petro, CEO of retail predictive analytics company First Insight, Warrendale, PA, whose firm released new findings on consumer behavior evolution with the coronavirus outbreak (see story):

How will the coronavirus alter consumer behavior in the short term? We’re in new territory with the coronavirus.

As uncertainty leads to fear, consumers are reacting and so are the markets.

While the majority of consumers are worried about the virus’ overall impact, millennials’ behavior is changing more dramatically than any other generation – cutting their total spending, stocking up on groceries, using public transportation less and staying indoors.

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baby boomers  millennials  gen x  Luxury Retail  shopping patterns  shopping habits  Coronavirus  COVID-19  Consumer Purchase Behavior

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