Consumer expenditure towards traditional sectors such as retail, restaurants, tourism and aviation

has declined, and is expected to drop further in the coming months.

Consumer habits are expected to change, with consumer spend shifting to new-age sectors such as
hyperlocal delivery, online conference/meeting tools and e-commerce

At a time when people around the globe are engulfed in fear emanating from news on the spread of
the deadly disease, this has widened the scope for panicked consumption of information - whether
official statements issued by government agencies or mere rumours doing rounds in the digital
media. Phones are flooded with misinformation and rumours around the COVID-19 outbreak. For
countries such as India, it is all the more difficult to cope up with such a situation due to a slew of
factors, such as the size of crowds and the absence of enough health institutions. The spread of fake
news can be restricted by way of WhatsApp encryption. Tech companies are taking all measures
possible to limit the dissemination of fake information.

However, there is a platform which is still underperforming in the time of coronavirus. Due to
encryption, misinformation is often spread in leaps and bounds through WhatsApp. Authorities are
making efforts to encourage the public to rely on credible sources such as the WHO tfor information,
and check the source of any received information thoroughly before sharing it with others.

The cancellation of around 12 high profile tech conference incurred economic loss worth $1 Bn