The Impact Of Economic Crises On Consumer Behavior In Konya

Abstract

In 2008, the economic crisis that emerged in the United States has a global dimension, affecting the entire world. The crisis periods which is a war of survival for businesses, influence the owners and employees of businesses and consumers significantly. Varying income levels of consumers bring about changes in needs, priorities and purchasing behavior. To know the consumer behavior in the crisis environment allows companies to take the right decisions about their possible behaviors, preferences and expectations of the product. In this study, the effects of the 2008 economic crisis in 2015, changes of buying behavior of 800 consumers during this period, and the impact of the crisis were tested. This study carried out with 800 consumers from the city of Konya in 2015. In the analysis, it is observed that the consumers who are more careful in spending money, avoid extravagance, prefer cheap and discount products affected by the crisis adversely. Impact of the crisis on consumers’ socio-demographic characteristics was found to be significant differences between levels. At the end of this study, it is observed that consumers adversely affected by the crisis. Nowadays, consumers are at the center of economy and it is extremely important to understand their new behaviors consumption