Abstract

Changes in consumer behavior during the great recession
Track: Retail
Authors: XIN ZHAO

The great recession not only saw housing values crash, it also left many people unemployed. Changes in employment vary dramatically by geography and brought with them substantial changes in purchasing behavior as documented in retail data by retail sector. Nonetheless, these changes varied substantially by geography. Changes in employment have the highest explanatory power in less affluent ZIP Codes and the lowest in wealthy neighborhoods.