Consumers' purchase behavior reactions: a focus on the steady devaluation of currency, compounding increase in inflation rates in Egypt

Eiman Medhat Negm

Journal of Humanities and Applied Social Sciences, 2023, vol. 5, issue 5, 383-401

Abstract: Purpose - This study investigates consumer purchase behavior during the steady devaluation of currency, which led to increase in inflation rates in Egypt. Design/methodology/approach - This study collected and analyzed numerical data to test the causal relationships found among the research model variables. Administrated questionnaires were distributed March 2023 in cross-sectional timeframe in several visits to hypermarkets, supermarkets and grocery stores in Cairo and Alexandria, applying nonprobability sample. Structure equation model path analysis was used to test the hypotheses. Findings - This study shows compulsive buying, sense of anxiety, value shopping, attitude toward private label, attractiveness of local brands and materialistic behaviors impact consumers' acceptance of alternative brands; compulsive buying, sense of anxiety and materialistic behaviors impact the continuance of purchasing accustomed brands. Practical implications - Retailers, government and policymakers can use this study as a guide to know how consumers react during times of high prices so to provide solutions to their needs. Policymakers should take into account the findings in managing the economy. Originality/value - This study shows the effect of inflation on consumer spending to contribute to the body of knowledge in literature on the factors that influence consumer behaviors. A model was developed to frame the possible manners that might surface among consumers during times of high inflation; it reflected whether compulsive buying, sense of anxiety, value shopping, attitude toward private label, attractiveness of local brands and materialistic behaviors impact consumers acceptance of alternative brands and/or the continuance of purchasing accustomed brand.

Keywords: Anxiety; Brand purchase; Brand switch; Compulsive buying; Consumer behavior; Inflation; Panic buying (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jhassp:jhass-05-2023-0054

DOI: 10.1108/JHASS-05-2023-0054

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