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Consumption Adjustments of Turkish Consumers during the Global Financial Crisis

Author

Listed:
  • Nazli ALIMEN

    (Dokuz Eylul Universitesi)

  • Gul BAYRAKTAROGLU

    (Dokuz Eylul Universitesi)

Abstract

The impacts of the global financial crisis, which started in 2007 and affected both developed and developing countries, were felt in not only banking and finance sectors but also people’s way of living and consumption. The purpose of this paper is to reveal the impacts of the global financial crisis on Turkish consumers and compare these effects with respect to demographic factors. According to the findings, 35 consumption adjustment statements are grouped under seven dimensions: Cautious spending, simplicity in purchase and distribution, product adjustments, quest for low price, financial anxiety, promotion adjustments, and awareness. The ANOVA and t-test results demonstrate that 436 respondents made adjustments in these dimensions with significant differences regarding their gender, age, marital status, occupation, and income.

Suggested Citation

  • Nazli ALIMEN & Gul BAYRAKTAROGLU, 2011. "Consumption Adjustments of Turkish Consumers during the Global Financial Crisis," Ege Academic Review, Ege University Faculty of Economics and Administrative Sciences, vol. 11(2), pages 193-203.
    • Handle: RePEc:ege:journl:v:11:y:2011:i:2:p:193-203
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    References listed on IDEAS

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    Cited by:

    1. Tamás Sikos T. & Vanda Papp & András Kovács, 2021. "Panic Buying in Hungary During Covid-19 Pandemic," Theory Methodology Practice (TMP), Faculty of Economics, University of Miskolc, vol. 17(01), pages 53-65.

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    JEL classification:

    • N70 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - General, International, or Comparative
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism

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