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

Author

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  • Violeta Peteva

    (University of Economics - Varna, Varna, Bulgaria)

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.

Suggested Citation

  • Violeta Peteva, 2020. "Modern Consumers and the Decision-Making Process in the Context of Digitalization," Izvestia Journal of the Union of Scientists - Varna. Economic Sciences Series, Union of Scientists - Varna, Economic Sciences Section, vol. 9(2), pages 32-42, August.
    • Handle: 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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    Cited by:

    1. Violeta Peteva, 2021. "Transformations of the Marketing mix in Conditions of the New Digital Reality," Izvestia Journal of the Union of Scientists - Varna. Economic Sciences Series, Union of Scientists - Varna, Economic Sciences Section, vol. 10(3), pages 145-156, December.

    More about this item

    Keywords

    Commerce 4.0; modern consumers; decision-making process; omnichannel retailing; omnichannel consumers; connected consumers;
    All these keywords.

    JEL classification:

    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

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