An EU study is examining responses to general macro-economic and firm-specific service-performance crises by both businesses and customers. Results indicate that buyers show stronger and longer reactions to negative experiences with firms than to positive ones; hence, businesses should avoid creating such outcomes.
Large-scale economic crises can impact both consumer behaviour and firm performance. Yet, such events can also bring opportunities for growth. The EU-funded CONCRISIS (Never waste a good crisis. Dealing with the impact of crisis situations on consumer behaviour and firm performance) project is investigating.
Further details: Crisis and opportunity