This paper examines the characteristics of the Greek consumer prior and during the crisis based on the study of various researches. Its main objective of this paper is the comparison of the Greek consumer style prior to the crisis and during the crisis and the extent to which this is in accordance to the typical consumer profiles in recession times. Another objective is to show that an exogenous factor such as economic recession effects consumer behaviour more than individual factors such as personality.
Table of Contents
Introduction
Purpose
Definition of consumer behavior
Exogenous factors and Consumer Behaviour
The importance of socioeconomic and demographic factors
Profile of Greek consumer prior to economic recession
Greek recession and Consumer
Typical types of customers in recession
Profile of Greek consumer during crisis
Impact of economic crisis
Increase and decrease spending per product category
Changing buying behavior
Emergence of new consumer values
Conclusion
Objectives and Core Topics
This paper aims to analyze the shift in Greek consumer behavior caused by the economic recession, examining whether external macroeconomic factors have a more significant impact on purchasing decisions than individual personality traits.
- Comparative analysis of consumer styles before and during the economic crisis.
- Examination of exogenous factors such as unemployment and public finance instability.
- Categorization of Greek consumer profiles based on recession-era behavioral changes.
- Assessment of changes in dietary habits and spending priorities per product category.
- Identification of new consumer values emerging in response to economic turbulence.
Excerpt from the Book
Profile of Greek consumer during crisis
According to data 8 in 10 Greeks believe that it will take more than two years, while 32% believe that the country faces the risk of bankruptcy (Metron Analysis 2010)
Demographic data
The demographic data of Greece are the following. Country's population has been increased in the last 15 years, but this is due to a huge extent (90%) to the inflow of immigrants, mostly Albanians. Unfortunately, there are not specific data for Albanians (age, number etc.) so there cannot be an estimation on their consumer behavior.
Approximately 1 / 3 of the Greek population live in Attica, but their participation in the total volume of food stores is 50%. The islands of the Ionian and Aegean Sea, which since 2010 are recorded in the services of Nielsen, own approximately 7% of the total population and the consumption of Greece.
Summary of Chapters
Introduction: Provides an overview of the economic crisis in Greece and its initial impact on consumer confidence and spending habits.
Purpose: Outlines the study's goal to compare Greek purchasing behavior before and during the recession while evaluating the influence of external factors.
Definition of consumer behavior: Establishes a theoretical foundation by defining consumer behavior as the complete process involving purchasing activities, thoughts, and effects.
Exogenous factors and Consumer Behaviour: Discusses how external variables like culture, family, and socioeconomic status shape individual consumption patterns.
The importance of socioeconomic and demographic factors: Analyzes how demographic shifts, such as an aging population and family size changes, influence consumption in Western countries.
Profile of Greek consumer prior to economic recession: Segments the pre-crisis Greek population into distinct groups based on lifestyle, media habits, and shopping preferences.
Greek recession and Consumer: Examines macroeconomic indicators such as GDP growth, inflation, and unemployment, and their direct correlation with household debt and disposable income.
Typical types of customers in recession: Identifies four distinct consumer categories—the "press the brake," "painful but resigned," "wealthy," and "live today" groups.
Profile of Greek consumer during crisis: Details the demographic context of Greece during the crisis and analyzes shifting purchasing trends per product category and changing buying behaviors.
Conclusion: Summarizes that while Greeks have adapted to the crisis by becoming more price-conscious, core cultural traits regarding brand loyalty and luxury persist.
Keywords
Economic recession, Greece, consumer behavior, consumer profile, purchasing power, unemployment, inflation, socioeconomic factors, household debt, price sensitivity, private label, consumer confidence, dietary habits, austerity, market trends.
Frequently Asked Questions
What is the primary focus of this paper?
The paper focuses on how the economic recession in Greece has transformed the behavior, consumption habits, and values of the Greek consumer.
What are the central themes discussed in the work?
Key themes include the impact of exogenous economic factors on purchasing, the demographic challenges of Greece, and the re-evaluation of household spending priorities.
What is the main research question of the study?
The study investigates whether macroeconomic conditions during a recession carry more weight in influencing purchasing decisions than individual consumer personality traits.
Which scientific methodology is applied?
The research relies on a comparative study approach, synthesizing data from various sources and surveys, including GFK, BCG, and the Economic University of Athens.
What topics are covered in the main body of the text?
The text covers the definition of consumer behavior, the profiling of Greek consumers before and during the crisis, and specific changes in dietary and shopping habits.
Which keywords best characterize this work?
Relevant keywords include economic recession, Greece, consumer behavior, price sensitivity, and macroeconomic impact.
How does the author categorize the Greek population in terms of shopping behavior during the crisis?
The author identifies four specific groups: those who "press the brake," the "painful but resigned" group, "wealthy" consumers, and the "live today" segment.
What role does the family play in the context of Greek consumption?
Family remains a strong institution in Greece, with consumer habits being heavily influenced by family structure, and evidence suggests that despite the crisis, spending on children's items has actually increased.
- Quote paper
- Fotini Mastroianni (Author), 2011, Consumer behaviour in Greece during economic crisis, Munich, GRIN Verlag, https://www.hausarbeiten.de/document/354221
