CONSUMER BEHAVIOR IN TIMES OF UNCERTAINTIES

Abstract

This paper highlights the relevance of identifying the various consumption changes adopted by consumers during an economic downturn as the competitiveness among businesses becomes more turbulent. An empirical research has been done to ascertain the type of consumers that are affected and their reactions to cope with the uncertainties such as the Iraq War and SARS in 2003. The analysis of the results proved that consumers of large household size particularly with young children and low family income are the hardest hit among all other consumers during times of economic uncertainties.