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Exploring Consumer Reactions to the Recession in Slovenia and Bosnia and Herzegovina

Author

Listed:
  • Tomaz Kolar

    (University of Ljubljana, Slovenia)

  • Vesna Zabkar

    (University of Ljubljana, Slovenia)

  • Nenad Brkic

    (University of Sarajevo, Bosnia and Hercegovina)

  • Ismir Omeragic

    (Valicon, Slovenia)

Abstract

In order to analyze the impact of the current economic crisis on consumers of FMCG products in the Balkan region this paper investigates changes and trends in consumer values and attitudes between years 2007 and 2009 in Slovenia and Bosnia and Herzegovina. A comparison of value ranks and factor scores between the two years and two countries shows some significant differences and surprising findings in terms of changes in consumer values and attitudes, which were otherwise expected to be relatively stable over a short time period. In order to provide an insight into questions of if, why and how the crisis differently affected Slovene and Bosnian consumers, possible causes for identified differences are discussed from the theoretical and practical standpoint and several managerial implications are suggested.

Suggested Citation

  • Tomaz Kolar & Vesna Zabkar & Nenad Brkic & Ismir Omeragic, 2012. "Exploring Consumer Reactions to the Recession in Slovenia and Bosnia and Herzegovina," Managing Global Transitions, University of Primorska, Faculty of Management Koper, vol. 10(2 (Summer), pages 121-144.
    • Handle: RePEc:mgt:youmgt:v:10:y:2012:i:2:p:121-144
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    File URL: http://www.fm-kp.si/zalozba/ISSN/1581-6311/10_121-144.pdf
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    References listed on IDEAS

    as
    1. Easaw, Joshy Z. & Garratt, Dean & Heravi, Saeed M., 2005. "Does consumer sentiment accurately forecast UK household consumption? Are there any comparisons to be made with the US?," Journal of Macroeconomics, Elsevier, vol. 27(3), pages 517-532, September.
    2. N/A, 2009. "On the Recession," Local Economy, London South Bank University, vol. 24(3), pages 253-253, May.
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    Cited by:

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    More about this item

    Keywords

    recession; consumers; attitudes; values; Slovenia; Bosnia and Herzegovina;
    All these keywords.

    JEL classification:

    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

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