Welcome to the InfoSci Platform
Is the Oil Price Hike a New Threat to Consumers' Buying Patterns?

Is the Oil Price Hike a New Threat to Consumers' Buying Patterns?

Sarika Faisal, Syed Far Abid Hossain, Rayisa Rayhana, Shawnila Nawshin
Copyright: © 2024 |Pages: 15
ISBN13: 9781668492772|ISBN10: 1668492776|ISBN13 Softcover: 9781668492789|EISBN13: 9781668492796
DOI: 10.4018/978-1-6684-9277-2.ch005
Cite Chapter Cite Chapter

MLA

Faisal, Sarika, et al. "Is the Oil Price Hike a New Threat to Consumers' Buying Patterns?." Sustainable Consumption Experience and Business Models in the Modern World, edited by Maria Amélia Machado Carvalho and Maria Antónia Rodrigues, IGI Global, 2024, pp. 110-124. https://doi.org/10.4018/978-1-6684-9277-2.ch005

APA

Faisal, S., Hossain, S. F., Rayhana, R., & Nawshin, S. (2024). Is the Oil Price Hike a New Threat to Consumers' Buying Patterns?. In M. Machado Carvalho & M. Rodrigues (Eds.), Sustainable Consumption Experience and Business Models in the Modern World (pp. 110-124). IGI Global. https://doi.org/10.4018/978-1-6684-9277-2.ch005

Chicago

Faisal, Sarika, et al. "Is the Oil Price Hike a New Threat to Consumers' Buying Patterns?." In Sustainable Consumption Experience and Business Models in the Modern World, edited by Maria Amélia Machado Carvalho and Maria Antónia Rodrigues, 110-124. Hershey, PA: IGI Global, 2024. https://doi.org/10.4018/978-1-6684-9277-2.ch005

Export Reference

Mendeley
Favorite

Abstract

The purpose of this study is to examine whether oil price hikes are leading consumers to switch to alternative forms of cooking oil. This study presents the viewpoints of subject-matter specialists, as well as consumer choices. This study applied a qualitative research approach with literature review and person administered survey. The authors found that the rise of the price of soybean oil positively influences consumers to switch to alternative oils. Moreover, the authors also discovered that consumers are more conscious about health benefits while oil prices are hiked. Additionally, the availability of various kinds of oils in the market influences consumers to switch as per the study. Theoretically, the study contributes to the extant literature (buyer decision theory) by discovering the oil price hike, brand switching, and sustainable oil consumption through variety seeking tendency.

Request Access

You do not own this content. Please login to recommend this title to your institution's librarian or purchase it from the IGI Global bookstore.