engleski

Croatia: Assessing Resilience and Responses of Firms and Consumers During COVID-19 Pandemic

This study builds on the concept of resilience and investigates the responses undertaken by Croatian consumers and firms during the COVID-19 pandemic. The main aim of this research is to explore how resilience drives behavioral intentions of consumers and SMEs within the context of the “new normal.” Through secondary data analysis, the impact of pandemic on Croatian lives, policy reactions, consumers, and firms was observed. Additionally, primary research was conducted to (1) explore the impact of consumer resilience on online buying shifts and (2) investigate the influence of SME’s resilience, actualized through top managers’ self-efficacy, on investment intentions. The findings indicate that Croatian consumers feel of themselves as being quite resilient while Croatian SMEs increase the resilience by relying on the self-efficacy of top managers who are prone to engage in investment during pandemic. Our study contributes to literature by revealing the profile of resilient consumers and firms and how it affects their behavioral intentions during pandemic. The authors conclude with some discussion of lessons from key findings and implications for crisis-management, business, governance, marketing, and well-being.

COVID-19 pandemic ; Resilience ; Consumers ; Firms ; Responses

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