Modern Consumers and the Decision-Making Process in the Context of Digitalization

Violeta Peteva ()
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Violeta Peteva: University of Economics - Varna, Varna, Bulgaria

Izvestia Journal of the Union of Scientists - Varna. Economic Sciences Series, 2020, vol. 9, issue 2, 32-42

Abstract: Considering all positive and negative characteristics, its creative and destructive effects, the dynamic advance of digitalization and globalization in the last decade has dramatically changed the world we live in. The business environment has been modified, the social system has been transformed. People, have definitely changed, their values, mindset and lifestyle, their consumption mode have altered, too. The paper focuses on some key characteristics of modern consumers; their connectivity, mobility, high level of awareness and expertise, aspirations to access, omnichannel behaviour, their activity in the social networks. All this has modified the decision-making process. Consumer' journey to purchase becomes more complex and more social which is evident in the reviewed decision-making models concerning the modern connected consumers.

Keywords: Commerce 4.0; modern consumers; decision-making process; omnichannel retailing; omnichannel consumers; connected consumers (search for similar items in EconPapers)
JEL-codes: M31 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:vra:journl:v:9:y:2020:i:2:p:32-42

DOI: 10.36997/IJUSV-ESS/2020.9.2.32

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