A Brief Overview of The Impact of Technology on Consumer Behaviours

I've made an analysis with the survey data about digitalization and consumer behaviours. I wanted to make a brief overview about it. I will share the highlighted parts with you.

The digitalization has changed the way we consume. In the past, shopping was only available between 9 am-5 pm. Digitalization has lift the limitation, and enables shopping every time in every day. This is not only increase the expenses of consumers, but also the global capital accumulation. Thus, the Capitalism has taken to the next stage. As a basis, if the supply doesn't meet to the demand, the world might be face a crisis. The way of preventing a crisis is to increase the aggregate demand. Social media and entrance the internet into human life increases the consume, and creates an upward impact on the aggregate demand.

When we ask consumers whether they are shopping online, 82.2% of consumers said they do. The survey showed that digitalization has an upward purchasing impact on consumer behavior.

It has come to a conclusion that consumer prefer online shopping because of the following reasons:

i. The easy feasibility of price comparison between products.

ii. Benefiting from campaigns for online shopping only.

iii. Easy accessibility the products or services.

Social media is a tool to consumers for investigating a brand and a product. They read consumers' reviews very carefully, and shape their purchasing decision with these reviews. When we ask our consumers how much they are influenced by the reviews on the internet, it seems that they have had a great influence on the consumption decisions.

Of the 76 respondents who said they were very impressed by ratings and reviews on the internet, 59% were women and 41% were women. It is concluded that 66% of men participating in the survey are not affected by comments on the internet. Therefore, it can be said that women are more affected than men.

Source: SmartCloud

It is possible to say that consumers who have become more interacting with each other have shaped their purchasing decisions by obtaining information about the product-service before taking the product-service and taking advantage of the experience of the product-service users. Accordingly, firms should follow policies aimed at increasing the experience of consumers who have a great influence on others.

56.6% of consumers said that advertisements published on the internet drives them to buy. Moreover, the study showed that almost half of the participants influenced by internet ads. Consequently, what companies need to do is to adapt digital transformation immediately, and develop their digital marketing strategies in order to reach a larger audience.

Source: Pinterest

To summarize, when the supply doesn't meet to the demand, it may cause a financial crisis. The digitalization, and similarly the social media, has an upward impact on consume. Under those circumstances, digitalization is an important tool for the global capital accummulation.

P.s.: I will attach my study here when I translate it.

Emel