Impulse purchases: how economic instability affected Russians’ purchasing behavior

Abstract

The factors of consumer behavior and their relationship with economic parameters have been investigated and determined. Macro-environmental factors force consumers to adapt to circumstances beyond their control. A review of studies related to dependence of changes in the purchasing patterns of country’s population and its economic and political environment has been conducted and presented. Insufficient data has been found in the studies, and therefore a sociological method has been used to collect primary information among the demographic group of women under 35, who are the most prone to making impulsive purchases. Based on the obtained results analysis, the hypothesis about the impact of state’s economic instability on the consumer behavior of its population has been confirmed. Based on the implemented research results, general recommendations have been formulated for businesses in the following segments: confectionery, bakeries, and coffee shops. The outlined options for business growth points in these categories correspond to the identified trend towards making impulsive purchases by Russians as a way to deal with stress caused by instability and uncertainty of the country’s economic condition, which is confirmed by a review of scientific sources, statistical data, and the collecting expert opinion. A further research vector has been proposed.