Consumer 5.0

Hristo Prodanov

Economic Thought journal, 2018, issue 2, 84-102

Abstract: The article examines from historical and comparative perspective the changes in final consumption as a result of transformation of technologies used in production, distribution, exchange and consumption during the First industrial revolution, the Second industrial revolution when consumption gradually assumes a leading role in the production process and gives birth to the “mass consumer” phenomenon, and the Third industrial revolution which gives rise to the niche consumer. Today, as the Fourth industrial revolution unfolds, a targeted and personalized consumer develops. The main features of this new type of consumer, related to the phenomenon of “prosumerism”, as well as the factors that determined its emergence, are outlined, based on analysis of relevant specialized literature.

JEL-codes: E21 N10 O35 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:bas:econth:y:2018:i:2:p:84-102

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