The Psychology of Consumer Behavior during Economic Recessions and its Impact on Political Attitudes

Abstract

This study examines the intricate relationship between consumer behavior during economic recessions and subsequent shifts in political attitudes. Using quantitative and qualitative study, we analyzed data from 1,000 participants across diverse demographic groups during the 2008 and 2020 economic downturns. Our findings reveal significant correlations between changes in consumer spending patterns, psychological factors such as risk aversion and economic anxiety, and evolving political ideologies. The results suggest that economic hardships lead to increased conservative fiscal attitudes and a preference for protectionist policies. This research contributes to our understanding of the complex interplay between economic conditions, consumer psychology, and political landscape, offering insights for policymakers, marketers, and social scientists.