In Unit 8 we talked about a simple model of demand and supply, in which the demand curve is constructed based on consumers' willingness to pay (WTP). This WTP depends on many factors such as income, tastes, trend, expectations about the future, etc, and it may vary over time as well.

The Covid-19 pandemic has significantly affected the ways consumers spend and certainly will reshape consumer behaviour.

Examinethis recent report by McKinsey & Company(https://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/a-global-view-of-how-consumer-behavior-is-changing-amid-covid-19#) and make TWO POSTS, as follows:

Post 1. According to the report, how has consumer sentiment around the globe changed?

Post 2. How has your willingness to pay and spend across different categories of products altered during this pandemic?