Endowment with Durable Goods as Welfare Indicator. Empirical Study Regarding Post-Communist Behavior of Romanian Consumers

Abstract

The endowment of households with durable goods is – for comparisons regionally, nationally or globally – a „barometer” of the standard of living in a country, with major implications both at micro and macroeconomic level being an important statistical indicator for the „actors” of this market. Particularities of the Romanian market (structure of households compared to EU media with direct implications over the degree of endowment, acquisition through „credit only with identity card”, lack of some basic commodities, outfit with „second – hand” commodities, the first „Black Friday” takes places 22 years after the collapse of communism etc.) influences the buying decision of the Romanian consumer and reveals a post-communist consumption behavior. Implications of this market are both social and micro and macro-economic as they reflect the living standard, conditions of life and life quality of population. In order to prove this aspect I carried-out a sampling based marketing research by using a sample of 300 households representative at the urban level, using double sampling schemes, stratified sampling and quota sampling. The results of research emphasizes significant differences among Romanian households, according with socio-demographic characteristics of the head of household, related to variables of buying process (place, favorite brands, period of acquisition, buying power etc.). These marketing and socio-demographic variables are integral part of the consumer’s decision buying process, acknowledged as endogenous and exogenous variables, process whose purpose is reflected in the degree of endowment with durables and therefore the economic and social welfare of population.

DOI: http://dx.doi.org/10.5755/j01.ee.24.3.2349