A new approach to econometric modeling in digitized consumer behavior.
Valentin Marian Antohi1,2, Monica Laura Zlati1, Romeo Victor Ionescu1
1Department of Business Administration, Dunarea de Jos University of Galati, Galati, Romania.
Frontiers in Psychology
|December 16, 2022
Summary
Understanding online buyer motivations is key for e-commerce success. This study uses an econometric model based on survey data to reveal how cultural, social, personal, and psychological factors influence online purchasing decisions.
Area of Science:
- Consumer Behavior
- E-commerce Analytics
- Econometrics
Background:
- Online retailer success hinges on understanding customer motivations.
- Research into the antecedents of online customer experience (cognitive and affective states) is growing.
- Identifying key drivers of online purchasing behavior is critical.
Purpose of the Study:
- To identify major behavioral changes in online buyers.
- To develop an econometric model explaining the influence of various traits on online purchasing.
- To uncover motivational factors impacting online buyers' psychological perceptions.
Main Methods:
- Conducted an extensive survey of online buyers.
- Analyzed survey data, segmenting respondents by age.
- Synthesized findings into an econometric model.
Main Results:
- Identified numerous motivational factors influencing online buyers' psychological perceptions.
- Quantified the impact of cultural, social, personal, and psychological traits on online purchasing.
- Reported the specific effects of identified motivational factors.
Conclusions:
- The proposed econometric model aids online retailers in understanding customer purchasing motivations.
- Findings provide insights into recent trends for academic researchers.
- Highlights areas for future research in online consumer behavior.
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