Consumer Behavior Patterns in the Face of Economic Crisis: Evidence from Poland, Hungary and Slovenia
(A2024-119527)

AUTHORS

Katarzyna Dziewanowska, University of Warsaw; Agnieszka Kacprzak, University of Warsaw; Anita Kéri, University of Szeged; Gregor Pfajfar, University of Ljubljana, School of Economics and Business

ABSTRACT

Economic crises significantly influence consumption patterns and well-being. Despite being subject to research, economic crises are relatively understudied, especially across markets. The study focuses on Central-Eastern European countries experiencing economic impacts from the Ukraine conflict and pandemic-induced changes. The research method used was a survey conducted on a sample of 1,544 respondents from Poland, Hungary and Slovenia, representative in term of age, gender, education and place of residence. A k-means cluster analysis led to identification of three distinct consumer segments, each demonstrating unique adaptive behaviors, demographic and psychographic profiles: Resilient Shoppers (26.9% of the sample) with stable consumption and a balanced financial approach, primarily younger Polish families; Crisis Adapters (31.1%) characterized by frugality and a tendency towards materialism, mostly single-person households in Hungary and Slovenia; and Ethical Balancers (42.0%), who prioritize ethical consumption, featuring an older demographic with larger households and a positive financial outlook.