Beyond Rational Economic Man: A Three-Layer Model of Muslim Consumer Decision-Making Grounded in Maqasid al-Shariah and Khaldunian Social Theory

Purpose — This paper challenges the universal applicability of the Rational Economic Man (REM) model in Muslim-majority markets by developing a Three-Layer Model of Muslim consumer decision-making, theoretically grounded in the Maqasid al-Shariah framework and Ibn Khaldun’s theory of ‘asabiyyah. Design/methodology/approach — A qualitative, theory-building single-case design centred on Americana Restaurants International PLC, drawing entirely on secondary financial, regulatory and survey data covering 2020–2024. Findings — The 2024 boycott-driven demand shock — a 38.8% annual net profit decline and an approximately 24% share price fall with no supply disruption — is difficult to accommodate within REM but readily interpretable as a Layer Three (‘asabiyyah) activation overriding price–utility calculation. The model specifies four jointly necessary activation conditions and derives five testable propositions. Research limitations/implications — Because the model is constructed inductively from the focal case, the analysis is illustrative rather than confirmatory; an out-of-sample research design and measurement strategy are specified. Practical implications — Recommendations include a Maqasid-aligned brand portfolio, shura-informed agile structures, AI-driven ‘asabiyyah monitoring and supply chain localisation. Originality/value: The paper offers the first framework integrating hifz al-mal, hifz al-din and ‘asabiyyah into a single consumer-behaviour architecture with specified activation conditions and operationalisable propositions.