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Analyzing the Main Changes in New Consumer Buying Behavior during Economic Crisis

Author

Listed:
  • Lelia Voinea

    (Bucharest Academy of Economic Studies)

  • Alina Filip

    (Bucharest Academy of Economic Studies)

Abstract

The negative social effects caused by consumerism and especially hiperconsumerism leaded, in the recent years, to the emergence and rapid growth of economic importance of new types of consumer - the new consumer - whose attitudes, aspirations and purchasing patterns are different from those existing in the past. The paper outlines at first, a portrait of the new consumer, highlighting its main features, derived primarily from the need for authenticity, which distinguishes it from the so-called traditional consumer. Amid global economic crisis, which turned out to be not only a financial crisis, but also one of capitalism, the new consumer behavior has encountered a series of changes. The recession has led the consumers to look for new landmarks: they became more economical, more responsible and more demanding. Research conducted in different countries showed that the recession had a strong economic and social impact on consumers. The paper analyze the results of some research realized in different countries in the recession period in order to highlight the main changes occurred in the new consumer buying behavior and to draw a portrait of him after the economic crisis.

Suggested Citation

  • Lelia Voinea & Alina Filip, 2011. "Analyzing the Main Changes in New Consumer Buying Behavior during Economic Crisis," International Journal of Economic Practices and Theories, Academy of Economic Studies - Bucharest, Romania, vol. 1(1), pages 14-19, July.
    • Handle: RePEc:aes:ijeptp:v:1:y:2011:i:1:p:14-19
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    File URL: http://www.ijept.org/files/journals/1/articles/3/public/3-32-1-PB.pdf
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    Citations

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    Cited by:

    1. Das, Manoj & Ramalingam, Mahesh, 2022. "What drives product involvement and satisfaction with OFDs amid COVID-19?," Journal of Retailing and Consumer Services, Elsevier, vol. 68(C).
    2. Alina Filip & Lelia Voinea, 2012. "Understanding the Processes of Customer Acquisition, Customer Retention and Customer Relationship Development," International Journal of Economic Practices and Theories, Academy of Economic Studies - Bucharest, Romania, vol. 2(2), pages 62-67, April.
    3. Tavlikou, Evangelia & Assimakopoulos, Costas, 2018. "Study on The Impact of Socio-Economic Crisis on Greek Wellness Tourists’ Spending Behavior," MPRA Paper 90102, University Library of Munich, Germany, revised 16 Apr 2018.
    4. Ivana Kursan Milakovic, 2020. "Croatian Purchase Experience During Covid-19: The Role of Company's Media Presence for Consumer Vulnerability, Resilience and Buying Behaviour," MIC 2020: The 20th Management International Conference,, University of Primorska Press.
    5. Jia Yun Moerth-Teo & Vito Bobek & Tatjana Horvat & Franko Milost, 2021. "The Effects of Consumers’ Buying Behavior on E-Commerce Pricing in the Highly Developed Emerging Market: The Case of Singapore," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 13(12), pages 1-55, December.
    6. Elhajjar, Samer, 2023. "Factors influencing buying behavior of Lebanese consumers towards fashion brands during economic crisis: A qualitative study," Journal of Retailing and Consumer Services, Elsevier, vol. 71(C).
    7. Hülya Bakirtas & Ibrahim Bakirtas & Mümin Atalay Celik, 2015. "Faydaci ve Hazci Alisveris Degeri ve Tüketici Tatmininin Tüketicinin Davranissal Niyetleri Üzerindeki Etkileri," Ege Academic Review, Ege University Faculty of Economics and Administrative Sciences, vol. 15(1), pages 91-98.
    8. Łukasz Wróblewski & Zdzisława Dacko-Pikiewicz, 2018. "Sustainable Consumer Behaviour in the Market of Cultural Services in Central European Countries: The Example of Poland," Sustainability, MDPI, vol. 10(11), pages 1-11, October.
    9. Tavlikou A Evangelia & Assimakopoulos Costas, 2018. "Study on The Impact of Socio-Economic Crisis on Greek Wellness Tourists' Spending Behavior," Post-Print hal-02463490, HAL.
    10. Rodica Pamfilie & Roxana Procopie & Magdalena Bobe & Smaranda Visan, 2013. "Design: the answer of contemporary businesses to the requirements of sustainable development," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 15(Special 7), pages 573-582, November.
    11. Mihaela DIACONU & Amalia DUTU, 2020. "Crisis, Uncertainty, Risk And Consumer Behavior: A Psycho-Economic Approach," Scientific Bulletin - Economic Sciences, University of Pitesti, vol. 19(2), pages 3-8.

    More about this item

    Keywords

    Changes; consumerism; consumer behavior; economic crisis; new consumer;
    All these keywords.

    JEL classification:

    • P46 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Consumer Economics; Health; Education and Training; Welfare, Income, Wealth, and Poverty
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

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