Abstract
SUMMARY: The SARS-CoV-2 virus appeared in the Chinese city of Wuhan, drastically changing consumer preferences ever since. Globalization and facilitated means of sharing information have had a considerable impact on consumer preferences. These preferences are ranked differently as a result of the unknown future of unfolding crisis. Specific changes in the business environment have caused intensive employment of crisis management and other comparable approaches in the problem-solving process in companies, which ensued as a result of the pandemic. The main purpose of this paper is to explain how consumers change their opinion about the importance of different goods and how companies may utilize these changes towards their own business objectives. The paper also shows how goods are classified according to different types of preferences. The final aim of this analysis is to contribute to a general understanding of how companies could change their business practices to create innovative products and establish better communication channels with their customers and other businesses.