International Journal on Science and Technology

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Economic Crisis and Financial Behaviour: Ripple Effect of Uncertainty and Risk

Author(s) Ms. Basanti Tudu, Ms. Amita Tudu, Dr. Parikshita Khatua, Dr. Liji Panda
Country India
Abstract Economic crises have a significant impact on consumer decision-making by reshapingpurchasing priorities, financial behaviour, and brand preferences. During the times of financialuncertainty, consumers often alter their spending habits, becoming more price-sensitive andadjusting their shopping behaviours to maximize savings. This study investigates the roles offinancial anxiety, risk perception, and shifting market dynamics in influencing these purchasingdecisions of tribal peoples. It also explores the effects of brand loyalty, promotional strategies,and digital transformation on changes in consumer behaviour. The findings aim to offerbusinesses insights on how to adapt their marketing and pricing strategies to align with theevolving needs of consumers during economic downturns. Also, the research examines thepsychological, economic, and social factors driving these changes, highlighting the shifttowards essential goods and heightened price sensitivity during crises. This study alsoinvestigates how economic crises affect consumer decision-making in rural Odisha,specifically focusing on changes purchasing priorities, spending habits, and brand preferences.It considers factors such as income uncertainty, financial anxiety, and limited access to credit,along with the influence of government aid, local markets, and digital adoption in alleviatingfinancial stress
Keywords Economic crisis, decision making, consumer behaviour, social and psychological.
Field Sociology > Banking / Finance
Published In Volume 16, Issue 3, July-September 2025
Published On 2025-08-22
DOI https://doi.org/10.71097/IJSAT.v16.i3.7612
Short DOI https://doi.org/g9x32w
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