Consumers’ Motivation to Participate in the Digital Economy and Changes Associated with the Pandemic

6th International Scientific Conference – EMAN 2022 – Economics and Management: How to Cope With Disrupted Times, Ljubljana, Slovenia, March 24, 2022, CONFERENCE PROCEEDINGS, published by: Association of Economists and Managers of the Balkans, Belgrade, Serbia; ISBN 978-86-80194-57-8, ISSN 2683-4510

 Abstract:

Pandemic is an external shock that influenced behavior of con­sumers across the world. During the pandemic, there were apparent chang­es in purchasing patterns in the market given the uncertainty in the markets. The uncertainty in markets generally leads to caution in spending and en­couragement of saving. Another major driver of the change of behavior was the introduction of various anti-pandemic rules and lockdowns. Restrictions led to deferred consumption which was apparent in the global economy in 2021 and the first quarter of 2022. This paper provides an insight into con­sumer motivation in the digital economy and the changes associated with such behavior in the pandemic and post-pandemic era. The nature and characteristics of digital business models were essential during the pandem­ic not just because of the reduction of transaction cost and thus higher effi­ciency but also because of the necessity of social distancing.

Keywords:

Digital economy; Pandemic; Consumption

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