1Associate Professor Udegbe Scholastica Ebarefimia, PhD, 2Olufemi Aina Ajose, PhD, 3Opele Asedayo PhD.
1,2,3Lagos State University, Faculty of Management Sciences, Department of Marketing, Nigeria.
DOI : https://doi.org/10.47191/ijmra/v8-i03-08Google Scholar Download Pdf
ABSTRACT:
This study explores the impact of emotions on consumer decision-making in Lagos State, Nigeria, during an uncertain economic period. It uses primary and secondary data to examine how emotions like fear, anxiety, optimism, and trust shape consumer choices. This research also highlights how demographic factors and marketing strategies mediate the effects of uncertainty on purchasing patterns. These findings provide insights into consumer psychology and offer implications for businesses and policymakers operating in unstable markets. The study also highlights the role of resilience and the informal economy in moderating emotional responses. 500 questionnaires were distributed to the respondents surveyed, 316 completed questionnaires were returned, and 279 copies were found usable for the study, resulting in a response rate of 55.8. %. The research instrument showed high reliability and validity, with the Cronbach alpha reliability coefficient = 0.7616. 7616. Data were analyzed using descriptive statistics, percentages, and t-tests. The findings indicate that fear and anxiety are the predominant emotions shaping consumer behavior amid economic instability, resulting in a preference for essential goods such as food, healthcare, and household items. Conversely, luxury and non-essential products were deprioritized, reflecting a more cautious approach to spending. In spite of the prevailing uncertainty, numerous residents of Lagos demonstrated a sense of optimism and resilience, often referencing their dedication to a "hustle" mentality. Additionally, trust emerged as a vital factor influencing consumer choices, with a marked preference for local brands and informal markets. These findings offer valuable insights for businesses and policymakers operating in volatile markets and shed light on consumer psychology.
KEYWORDS:Emotions; Consumer choice; Decision-making; Uncertainty; Lagos State, Nigeria.
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Volume 08 Issue 03 March 2025
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