You are here

Consumption Adjustments of Turkish Consumers During The Global Financial Crisis

Journal Name:

Publication Year:

Author NameUniversity of AuthorFaculty of Author
Abstract (2. Language): 
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.
193 - 203



Allen, R. E., & Snyder, D. (2009) “New Thinking on the
Financial Crisis”. Critical Perspectives on International
Business, 5(1-2): 36-55.
Altunışık, R., Torlak, Ö., & Özdemir, Ş. (2003) Ekonomik
Kriz ve Değişen Alışveriş Alışkanlıkları Üzerine Bir
Araştırma [A Research on Economic Crisis and Changing
Consumption Habits], Paper presented at the 8th National
Congress of Marketing, Kayseri, Turkey.
Ang, S. H., Siew, M. L., & Philip, K. (2000) “The Asian
Apocalypse: Crisis Marketing for Consumers and
Businesses”, Long Range Planning, 33: 97-119.
Ang, S. H. (2001a) “Crisis Marketing: A Comparison across
Economic Scenarios”, International Business Review, 10:
Ang, S. H. (2001b) “Personality Influences on
Consumption: Insights from the Asian Economic
Crisis”, Journal of International Consumer Marketing, 13
(1): 5-20.
Aydin, K. (2009) “Küresel Kriz ve Türkiye [The Global
Crisis and Turkey]”,
php?hid=1231342495, (31.05.2009)
Cohen, J. (1969) Statistical Power Analysis for the Behavioral
Sciences, New York, Academic Press.
Duygan, B. (2005) Aggregate Shocks, Idiosyncratic Risk, and
Durable Goods Purchases: Evidence from Turkey’s 1994
Financial Crisis, European University Institute Finance
and Consumption Program Working Paper.
Fernandez, J. (2009) “Crunchonomics: Understanding
Consumers in the Recession”, Marketing Week, April 23:
Frankenberg, E., Thomas, D., & Beegle, K. (1999) The
Real Costs of Indonesia’s Economic Crisis: Preliminary
Findings from the Indonesia Family Life Surveys, Labor
and Population Program Working Paper, RAND DRU
2064. Santa Monica, RAND.
French, S., Leyshon, A., & Thrift, N. (2009) “A Very
Geographical Crisis: The Making and Breaking of
the 2007-2008 Financial Crisis” Cambridge Journal of
Regions, Economy and Society, 2: 287-302.
Friedman, J. & Levinsohn, J. (2002) “The Distributional
Impacts of Indonesia’s Financial Crisis on Household
Welfare: A ‘Rapid Respond’ Methodology”, The World
Bank Economic Review, 16 (3): 397-423.
Krejcie, R. V. & Morgan, D. W. (1970) “Determining
Sample Size for Research Activities”, Educational and
Psychological Measurement, 30: 607-610.
Malhotra, N. K. (2007) Marketing Research: An Applied
Orientation, 5th ed., Upper Saddle River, NJ, Pearson/
Prentice Hall.
McKenzie, D. J. (2006) “The Consumer Response to
the Mexican Peso Crisis”, Economic Development and
Cultural Change, 55 (1): 139-172.
Özkan, G. (2008) “Küresel Ekonomik Kriz:
Makroekonomik Bir Yaklaşım [The Global Financial
Crisis: A Macroeconomical Approach]” Banking
Regulation and Supervision Agency Special Publication,
Reinhart, C. M. & Rogoff, K. S. (2008) “Is the 2007
US Sub-Prime Financial Crisis So Different? An
International Historical Comparison”, (NBER Working
Paper, No. 13761),,
Roscoe, J. T. (1975) Fundamental Research Statistics for the
Behavioral Sciences (2nd ed.), New York: Holt, Rinehart
and Winston.
Selçuk, B. & Yılmaz, N. (2010) “Küresel Finansal Sistemde
Değişim ve Türkiye’ye Etkileri [The Alteration in the
Global Financial System and Its Effects on Turkey]”.,
Shama, A. (1978) “Management and Consumers in an Era
of Stagflation”, Journal of Marketing, 42: 43-52.
Shama, A. (1981) “Coping with Stagflation: Voluntary
Simplicity”, Journal of Marketing, 45: 120-134.
Sheth, J. N. (1970) “Multivariate Analysis in Marketing”,
Journal of Advertising Research, 10 (1): 29-39.
Susam, N. & Bakkal, U. (2008) “Kriz Süreci Makro
Değişkenleri ve 2009 Bütçe Büyüklüklerini Nasıl
Etkileyecek? [How will the Crisis Period Affect Macro
Variables and 2009 Budget Sizes?]”, Maliye Dergisi, 155:
Uzunoğlu, S. (2009) “Global Kriz: Ne Zaman ve Nasıl
Sona Erecek? [The Global Crisis: When and How Will it
End?]”, TGSK Akademi, 4 (2): 80-88.
Whitney, M. (2009) “Credit Cards are the Next Credit
Crunch”, The Wall Street Journal, March 11. http://online.,
Yang, B., Prescott, N. & Bae, E. (2001) “The Impact of
Economic Crisis on Health-Care Consumption in
Korea”, Health Policy and Planning, 16 (4): 372-385.
Yıldız, Z. & Durgun, A. (2010) “2008 Küresel Ekonomik
Krizi ve Turizm Sektörü Üzerine Etkileri [The 2008
Global Economic Crisis and Its Effects on the Tourism
Sector]”, Vizyoner Dergisi, 2 (1): 1-15.

Thank you for copying data from