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Youngsters to acquire qualifications to mitigate Covid uncertainty

Tuesday - May 26, 2020 8:45 pm , Category : BUSINESS
New Delhi, May 26 (IANS) Young people, facing insecurity in their careers due to job losses around Covid-19 or facing uncertainty about the future, are likely to enhance their qualifications during this period.
According to research by Apriori Consultants, a marketing consultancy, among the 10 predictions on how consumers will behave post-lockdown, young people about to start work or early in their careers will face severe uncertainty.
"They will be insecure about current jobs and will find it difficult to predict which sectors will boom in the future. They will try to mitigate this uncertainty by acquiring wider qualifications -educational & experience," the research said.
Premium economising is also likely to emerge as a trend as facing job insecurity or salary cuts, households will be forced to economise. "They will hate it and would try to hide it from others but brands that look expensive (but cost less) will be preferred if it comes from trusted sources," the report said.
In addition, as income reduces/is threatened, more women will try to earn additional income by becoming tutors, starting art classes or small businesses (resellers). Many will be forced to do this despite hesitation and low self-confidence, the research said.
In the rural micro-economies, as migrant workers return home and stay back until the situation stabilises, there will be self-sufficient micro-economies within villages. Barter systems, goods for labour systems will emerge. "There will be increased dependence on money-lenders. There will be low hope for the future," it added.
The new mating game could emerge as the search for partners and the rituals of early relationships will be transformed in an age of social distancing.
"Players will need to balance between trusted contacts vs meeting new people. As gyms, restaurants, clubs, workspaces thin out, new spaces for this game will need to be created," it added.
The home could be the new social hub. Socialising outside will be replaced by calling 'trusted' friends & family to home. "People will want to beautify homes, increase entertainment options (especially for playdates), and want easy serving options for parties, religious gatherings etc," it added.

--IANS san/vd