Changes in Household Consumption Models in EU Member States Cover Image

Промени в моделите на потребление на домакинствата в държавите членки на ЕС
Changes in Household Consumption Models in EU Member States

Author(s): Maya Tsoklinova
Subject(s): Economy, National Economy, Public Finances, Socio-Economic Research
Published by: Великотърновски университет „Св. св. Кирил и Методий”
Keywords: model; consumer behaviour; consumer expenditure; cluster analysis; changes.

Summary/Abstract: The impact of the COVID-19 pandemic has had a negative impact not only on the amount of government revenue and expenditure, but also on the amount of consumer expenditure due to reduced purchasing power. In the period of the pandemic, a large part of the population worldwide lost their work positions and changed their consumer model due to a restructuring of needs. The purpose of this article is to systematize the 27 EU member states into homogeneous groups based on the relative shares of twelve groups of consumer expenditure according to the Classification of Individual Consumption According to Purpose (COICOP) to total consumer expenditure, and on this basis to make a comparative analysis of the household consumption models at the EU level as a result of the COVID-19 pandemic. This analysis is performed for 2019 and 2022. The non-hierarchical clustering method is used, especially the K-means method. As a result of applying the cluster analysis, the changes that have occurred in the household consumption model are identified, and the similarities and differences at the EU level are brought out.

  • Issue Year: 16/2024
  • Issue No: 1
  • Page Range: 39-52
  • Page Count: 14
  • Language: English
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