The Impact of COVID-19 on consumer behaviour in the food and beverage industry
How the virus has affected the performance of GNT, as well as the firms’ strategic outlook
This paper focuses on how consumer behaviour has changed due to COVID-19 and how said change has impacted the operations and future strategy of GNT. It was in large parts found that GNT is strongly positioned in the market, despite its premium nature and a looming decrease in purchasing power, due to the persistence of the trends with which the firm has facilitated its growth. Furthermore, the operations of the firm were impacted differently by region, with the performance of an affiliate being influenced by the state of the local economy. For the US affiliate, it was found that the sales showed large correlation with the local disposable income and could be most accurately predicted using distributed lag model using disposable income values from the same period (DL (0)).