The Impact of Recession on Consumer Buying Behavior: The recession effect on students buying smart phones in Ireland

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Description

The sale of smartphones has increased rapidly across the globe due to technological improvement. People prefer smartphones over computers as they have internet services and are portable. This study aims at exploring the effects of economic recession on the buying behaviors of smartphones among Irish students. Consumer buying behaviors are usually changed by external environmental forces like economic forces hence economic recession of the year 2008 had significant on the manner in which consumers purchased consumer products and services. In most cases, economic recession forces consumers to reduce consumption of luxury and expensive products as they do not have much money and the little they have is only used for basic needs. The desires of students to own smartphones in the modern world is mainly controlled by peer pressure and their economic backgrounds. This study therefore explores different facets of this phenomenon in order to determine how the consumer buying behaviors of particular group of Irish students were affected by the economic recession. In doing this both primary and secondary data were used. The main purpose of the study was to explore whether consumer buying behaviors are affected by economic forces like economic recession and whether the purchase of smartphones in the Irish market was affected. There are certain factors which affect or influence consumer buying behaviors. These factors cannot be ignored in a study as they greatly contribute to the purchasing behaviors of consumers whether there is an economic recession or not.