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Consumer behaviour online


Publication date: 06.03.2024


In today's fast-paced world, online shopping has emerged as a convenient solution for busy individuals. Despite the continued patronage of physical stores, there's a noticeable trend towards online shopping due to its time-saving benefits. The global e-commerce market has seen exponential growth, with the Asia Pacific region leading the surge, particularly in countries like China. This shift in consumer behavior towards online shopping necessitates a deeper understanding of their preferences, satisfaction levels, and behavior. This study aims to explore consumer attitudes towards online shopping, especially in the context of Bangladesh, where internet penetration is rapidly expanding. Understanding these dynamics is crucial for businesses aiming to meet evolving consumer needs and stay competitive in the digital marketplace.


The Rise of Online Shopping in a Fast-Paced World 


As people's tastes and preferences change, especially with things like the Internet becoming more widespread, it's important to understand why they buy things. That's where consumer behavior research comes in. It helps us figure out how people decide what to buy. One useful thing from this research is models that break down the steps people go through when they're deciding to buy something. For example, there's a model by Vrender (Citation2016) that talks about how people first realize they have a problem or need, then search for information, consider different options, make a decision, and finally, think about whether they made the right choice.



Understanding Consumer Behavior Through Research 


Knowing about these steps helps businesses predict what people might buy and why. But it's not just about guessing. Understanding why people buy things helps businesses make products and messages that people like more. It also helps them create better experiences for customers. So, studying consumer behavior isn't just about guessing what people will do. It's about understanding them better so businesses can make products and messages that fit what people want.



Deciphering the Decision-Making Process


Imagine a journey into the heart of consumer behavior! It all began with Cunningham's groundbreaking exploration in 1967, and since then, a parade of brilliant minds like Dowling, Staelin, and Mitchell have joined the fray, shedding light on the fascinating world of risk perception and decision-making. They found that risk isn't just one thing—it's made up of different types, like financial risk and psychological risk. These risks affect how people make decisions when buying things.



The Evolution of Risk Perception and Decision-Making 


For example, financial risk is about losing money, while psychological risk is about feeling uncomfortable with a decision. Different products pose different risks. Clothes might have more psychological risk, while electronics might have more financial and performance risk. Although online shopping is becoming more popular, it still comes with risks, like security and privacy concerns (Korgaonkar and Wolin, 1999). People's past experiences can reduce these risks, but each online purchase is still unique. Trust is crucial here—if people trust a website, they're more likely to buy from it (Costa, 2011).


Decision making is complex and varies from person to person. Models like the rational model and bounded rationality model help explain how people make choices. But decisions can also be influenced by emotions, past experiences, and even politics.


Conclusion


In conclusion, it's clear that grasping the intricacies of consumer behavior in online shopping is vital for businesses. By understanding decision-making and risk perception, we can better adapt and build trust with our customers. Let's remain attentive and committed to meeting their evolving needs in this ever-changing landscape.


 

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