ECONOMIC RECESSION AND CONSUMER BUYING BEHAVIOUR FOR SELECTED FAST MOVING CONSUMER GOODS IN SOUTH EAST NIGERIA

Abstract

This study examined the relationship between economic recession and consumer buying behaviour for selected fast moving consumer goods in South-East, Nigeria. This became necessary following the devastating effect of recent economic recession on Nigerian economy. Relevant conceptual, theoretical and empirical literatures were reviewed. The enquiry drives its theoretical foundation from the theory of reasoned action and theory of planned behavior. Descriptive Survey research method was used to investigate the issue of concern.  Sample size of 500 was purposively selected from the consumers of fast moving consumer goods in the five states that make up the South East Nigeria. Structured questionnaire was employed as the major instrument of data collection. The data generated were analyzed using descriptive statistics, correlation analysis and ordinary least square regression technique. The result indicates that economic recession have a significant relationship with brand switching behavior. The finding further indicated that economic recession have a significant relationship with price conscious behavior. Similarly, economic recession was found to have significant relationship with impulse buying behavior for fast moving consumer goods. The result further showed that economic recession has a significant relationship with consumers’ shopping habits. Based on the findings, the study concluded that economic recession has significant relationship with consumer buying behaviour for selected fast moving consumer goods in South-East, Nigeria. The study recommended that companies should be price sensitive during the period of recession in order not to loose their customer to competing brands.