“Market magazine” asked “How is consumer behaviour affected by the geopolitical turmoil in the world?”
Geopolitical turmoil in the world has long been a factor affecting the global community in many ways. One of the most obvious effects is on consumer behavior. But how much does it really affect us as individuals? According to experts in the field, it’s not as much as you might think.
One of the main factors driving consumer behavior is available finances and short-term future. In other words, if a person has money to spend and believes they will have the same financial stability in the future, they are likely to buy what they want. This is an important factor to take into account when talking about geopolitical unrest, as it can affect both the economy and the short-term outlook.
Another important factor to consider is that the Swedish consumer has no recent memories of war or any other crisis in the near future. This means that we as a society have not experienced the difficulties that many other countries have gone through. The pandemic and the 2008 crises even benefited consumers and trade, which has meant that we have a very weak sense of crisis and how it can affect us.
Of course, this doesn’t mean that we don’t care about what is happening around the world. We are aware that there is geopolitical unrest and that it can have an effect on the world economy. But in terms of our individual consumer behavior, it is not something that affects us to a great extent.
In conclusion, it can be said that the geopolitical turmoil in the world has a limited impact on consumer behavior. This is due to a number of factors, including the available finances, the short-term future and the lack of experience with crises. Nevertheless, it is important to be aware of what is happening around the world and how it can affect us as a society.
