Are We Shocked? Examining the Relationships between Purchasing Behavior, Employment and Consumer Confidence Index in Malaysia
The paper investigates the relationships between Consumer Confidence Index (CCI) with Employment and Purchasing Behavior (PB) in Malaysia. It also highlights the major economic events that occurred during the period of study ie. January 2015 until December 2016. Consumer sentiment score was collected from multiple channel social media and lexicon-based technique was used to classify the sentiments into three different categories based on the keywords. A total of 778,676 media messages were collected and the comments were transforms into CCI using machine-learning techniques. Descriptive analysis, correlation and regression tests were conducted on the data sets. Results found that there is negative relationship between CCI and Employment. Similarly, there is a negative relationship between CCI and Purchasing Behavior. Some major events are highlighted that could explain the relationships.
Index Terms - Purchasing Behavior, Employment, Consumer Confidence Index, Social Media