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Sydenham Management Review the International Research Journal Sydenham Management Review The International Research Journal ISSN : 2249-9490 VOLUME 4, ISSUE 1, Jan-Dec 2021 ISSN:2249-9490, vol 4, issue 1, 2021 LETTER FROM CHIEF EDITOR Dear Academic colleagues, industry associates and research enthusiasts! It is indeed heartening to present you with this journal. Your association with Sydenham Management Review is a treasured one. India and its economy stand at the cusp of an important phase. It is obvious that India’s importance globally is steadily growing. In order to maintain this momentum, one needs to imbibe change and move ahead in the current changing business environment. In the context, the current edition of the SMR has been bejeweled with articles we received from foreign as well as Indian scholars. This edition of SMR has contributions from Dr Bhanot and Dr Srivastava on the Study on the Purchase Behavior of Indian Consumers During Coronavirus Lock-Down, Prof. Gaanyesh Kulkarni and Dr. R. K. Srivastava on How Consumer’s Buying Pattern, Culture, and Subculture Results in Influencing the Purchase Decision of Urban Indian Households for Branded Edible Oil, Dr. Sangeeta Pandit on the Role of Prudent Decisions on Corporate Success, Rama Singh and Dr. Arunava Mukherjee on Factors Affecting the Buying Behavior of Consumers’ Towards Waste Management Products, R. Srinivasan, Sandeep Bhanot and R.K Srivastava on Perception Towards Participation in Online Teaching Instruction among the Faculties of MBA During COVID-19, Rishika Bhojwani on a Study of Brand image and Customer perception of Public and Private Sector Banks among Generation X and Generation Y, P Jena on a study on Adoption of Digital Banking Services in Indian Public Sector Banks, Manoj Pansare on Understanding The Maturity Level Regarding Corporate Social Responsibility (CSR) Activities by the Indian Hospitality Sector Vendors During Pandemic Disasters (Covid19 Situation), Arismita Deka, Sarvesh Ramesh and Sangeeta Bagal on Transient Impact of Covid-19 on Employment in India and Anushri Prashant Ghatole on Impact of Oil and Domestic Gold prices on GDP. Finally, we would like to thank our guest editor for this issue, Dr. R.K. Srivastava, HOD Marketing and Research, SIMSREE for his inputs, guidance and mentorship. Thanks, and Regards, Aashish Pawaskar Chief Editor ISSN:2249-9490, vol 4, issue 1, 2021 Index Page Topic Author No. No. 1. Study on the Purchase Behavior of Indian R.K. Srivastava, SIMSREE ,India 1-13 Consumers During Coronavirus Lock-Down E.mail:[email protected] & Sandeep Bhanot, SIESCOMS, India, Email:[email protected] 2. How Consumer’s Buying Pattern, Culture, Prof. Gaanyesh Kulkarni, Faculty 14-45 and Subculture Results in Influencing the Atharva Institute of Management Purchase Decision of Urban Indian Studies, Mumbai, Maharashtra. Households for Branded Edible Oil Email: [email protected] Dr. R. K. Srivastava, HOD & Professor of Marketing & Research. PhD guide at SIMSREE, Mumbai. Email: [email protected]; 3. Role of Prudent Decisions on Corporate Dr. Sangeeta Pandit;HOD Finance, 46-58 Success Sydenham Institute of Management- SIMSREE. Mumbai Email: [email protected] 4. Factors Affecting the Buying Behavior of Rama Singh, Research Scholar- 59-82 Consumers’ Towards Waste Management School of Commerce and Products Management, Arka Jain E.mail:[email protected]; Dr. Arunava Narayan Mukherjee; Professor & Dean, School of Commerce and Management, Arka Jain University, Jharkhand, India. E.mail:dr.arunava@arkajainuniversity. ac.in. 5. Perception towards Participation in Online R .Srinivasan, Professor,JBIMS 83- Teaching Instruction among the Faculties of E.mail: [email protected] 103 MBA during COVID-19 Sandeep Bhanot ,Associate Professor, SIESCOMS E.mail: [email protected] R.K Srivastava,Prof and HOD, SIMSREE E.mail: [email protected] 6. A Study of Brand Image and Customer Rishika Bhojwani, Research Scholar, 104- Perception of Public and Private Sector SIMSREE 122 Banks among Generation X and Generation E-mail:[email protected] Y 7. A study on Adoption of Digital Banking P Jena Chief 123- Services in Indian Public Sector Banks Manager ,SBI 152 E.mail: [email protected] ISSN:2249-9490, vol 4, issue 1, 2021 8. Understand the Maturity Level Regarding Manoj Pansare 153- Corporate Social Responsibility (CSR) Vp-Group Internal Audit, 196 Activities by the Indian Hospitality Sector Taj Group of Hotels Vendors During Pandemic Disasters Email: [email protected] (Covid19 Situation). 9. Transient Impact of Covid-19 on Arismita Deka, student, Gokhale 197- Employment in India Institute of Politics and Economics 223 Email: [email protected] Sarvesh Ramesh, student, Gokhale Institute of Politics and Economics Sangeeta Bagal, student, Gokhale Institute of Politics and Economics 10. Impact of Oil and Domestic Gold prices on Anushri Prashant Ghatole, student, 22 4 - GDP M.Sc. I (Statistics) 238 Email: [email protected] 11 Policies of the Journal 239- 240 12 Journal Subscription Form 241 ISSN:2249-9490, vol 4, issue 1, 2021 1 Study on the Purchase Behavior of Indian Consumers During Coronavirus Lock-Down Dr. R.K. Srivastava, Prof and HOD, Sydenham Institute of Management, Mumbai Email: [email protected] Dr S. Bhanot, Associate Professor, SIESCOMS, Mumbai Email: [email protected] Abstract This study surveyed the purchase behavior of Indian consumers regarding online purchases during lock-down. It also studied their perception of their job security during lock-down. The survey data was collected using a sample of 328 individuals in India. The results indicate that there has been an increase in the purchase of essential products and hygiene products during COVID-19. The theory of fear (Ruiter, et al., 2001) has been applied to explain the purchase behavior during COVID -19 in emerging markets like India. Keywords: Lock-down; Corona, COVID-19, purchase behavior, online purchase; consumer purchase behavior, e-commerce 1. Introduction The coronavirus (COVID-19) pandemic has not only upended the economy but has also been instrumental in causing changes in purchase behavior. Consumers’ panic buying has the potential to exaggerate the consequences of supply disruption. According to Mathew (2020), India is under a lock-down, that began on March, 25th, 2020, until May 31, 2020, to curb the spread of the coronavirus (COVID-19). It will likely affect the economic conditions of the country and may extend until 2021. New Delhi Television (NDTV) (2020) reported that India’s GDP growth for the year 2020 will be reduced to 2.5% from 5.3%, estimated 10 days ago before the lock-down. Economic Times (E.T) (2020) reported that the lock-down, announced by Prime Minister Narendra Modi, would lead to a sharp loss in incomes and domestic demand. At the same time, E.T, (2020) expected a sharp rebound in India’s growth in the year 2021 to 5.8%. NDTV (2020) reported that depression, unemployment, with supply chain hurdles will affect millions of Indians due to the lock-down condition. The coronavirus (COVID-19) pandemic has not only upended the economy but has also been instrumental in causing changes in purchase behavior. Consumers’ panic buying has the potential to exaggerate the consequences of supply disruption. According to Mathew (2020), India is under a lock-down, that began on March, 25th, 2020, until May 31, 2020, to curb the spread of the coronavirus (COVID-19). It will likely affect the economic conditions of the country and may extend until 2021. New Delhi Television (NDTV) (2020) reported that India’s GDP growth for the year 2020 will be reduced to 2.5% from 5.3%, estimated 10 days ago before the lock-down. ISSN:2249-9490, vol 4, issue 1, 2021 2 Economic Times (E.T) (2020) reported that the lock-down, announced by Prime Minister Narendra Modi, would lead to a sharp loss in incomes and domestic demand. At the same time, E.T, (2020) expected a sharp rebound in India’s growth in the year 2021 to 5.8%. NDTV (2020) reported that depression, unemployment, with supply chain hurdles will affect millions of Indians due to the lock-down condition. Consumers are panicking due to the communication gap, even though the government is trying its best. Their confidence level has gone down based on informal discussions during this present its best. Their confidence level has gone down based on informal discussions during this present study (Mohanty, 2020). Consumers think that the economy is not doing well and there are not enough jobs (E.T, 2020), however, they are hopeful for improvement after a year. The Reserve Bank of India (RBI), as per its September round of the Consumer Confidence Surveys, has said that households’ perceptions and expectations of the general economic situation, employment scenario, the overall price situation, and their income and spending are pessimistic (E. T., 2020). However, as per the Nielson study (2020), there is a rapid rise in the sales of hand sanitizer, medical masks, and household maintenance masks. As per NDTV TV reports (2020), consumers are panic buying groceries and medicine. Such behavior reflects tension, demotivation, fear, and anxiety among consumers. There is research available on the COVID-19 concerning medical research, but few research data are available on social science research related to COVID-19. However, earlier research work of Hojin Jung, Minjae Park, Kihoon Hong, and Eunjung Hyun (2016) studied the impact of an epidemic outbreak on consumer expenditures for Middle East Respiratory Syndrome (MERS) in Korea and reported considerable disruption in total consumer expenditure. Customers alter their behaviors to reduce the risk of infection. Bish & Michie (2010) mentioned three types of protective behaviors during a pandemic: preventive, avoidant, and management of illness behaviors during the swine flu pandemic. The response to COVID-19 may vary depending upon the demographics (e.g., Bish & Michie, 2010; Bhanot & Srivastava, 2015; Srivastava, 2017). Therefore, the present study aims to find out the response to COVID-19 by different demographic variables on purchase behavior.
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