(1).

The Psychology of Financial Consumer Behavior

Financial behaviours, for instance, whether somebody is saving, is in debt, or has insurance, have been
long explained in economy, assuming a simple dependency between the level of income (or a more
broadly understood material situation) and these behaviours. The assumption that was made was that the
higher the income, the more savings or insurance held or lower the debt (Antonides, de Groot, & van
Raaij, 2011; Brounen, Koedijk, & Pownall, 2016; Yoon, La Ferle, & Edwards, 2016).

Financial and investment risk-taking propensity is also encouraged by creativity, which is a component of
openness to experience (Erbas & Bas, 2015).
The Big Five qualities are conventional five-factor theories of personality.

There are model identifies five key personality dimensions (traits): conscientiousness, extraversion,
agreeableness, neuroticism (vs. emotional stability), and openness to experience. This is a hierarchical
model of personality, which means that each of the five main dimensions still has a lower hierarchy of
traits, with each dimension containing six facets. Thus, agreeableness comprises, among others,
modesty, straightforwardness, and altruism, while conscientiousness also includes dutifulness, self-
discipline, and deliberation

Also in the area of everyday financial management, the Big Five concept has contributed considerably to
understanding what underlies good money management. The findings of various studies have revealed
that conscientiousness is the most significant trait in this context. Persons with a higher level of
conscientiousness are characterised by greater self-control and, consequently, are clearly much better at
managing their finances. Such persons are more disciplined and responsible, which is reflected in their
financial behaviours. They deliver on their financial commitments, have greater control over their
expenses, and do not take risky decisions.

The personality traits identified in the Big Five model are not the only individual traits that are of interest
to researchers in the context of financial behaviours. Psychological traits, for example, optimism (life
satisfaction), values, self-control, time perspective, locus of control, or entitlement, are also important.
money can be the source of satisfaction with life or even can money bring happiness.

(2). Online Shopping Intentions Antecedents and Moderators of Shopping Intention Formation in New
Fields of E-Commerce

In recent decades, the rapid development of networks and technologies in information communications
has created a borderless digital world. Information and knowledge gaps between countries are reduced
or closed by information networks (e.g., Legner et al., 2017). Falling information costs simplify
communication processes and lead to enormous transformations in the production of goods and
services. Thus, the world has become closely connected, and products and services can be delivered
immediately and anywhere in the world through networks. The Internet offers exporters new
opportunities since access to new markets is increasing, efficiency in accepting global customer orders is
increasing, and the processing of inquiries is improving. Therefore, consumption is possible wherever
there is Internet access (Ternès et al., 2015). As a result of digitized access to goods and services, more
consumers are opting for electronic commerce (ecommerce) over traditional shopping channels, such as
brick-and-mortar stores and direct sales.

While traditional online shopping via non-mobile devices, such as a computer, or mobile devices, such as
a laptop, tablet, or smartphone, primarily uses a screen and a physical input form to search for products,
which can then be viewed online and finally ordered, voice-commerce represents a new type of
technologysupported possibility for online shopping (Hoy, 2018). Instead of entering the search term by
typing it, the input is made by a digital voice assistant using one’s own voice.

Compared to traditional e-commerce, voice-commerce allows consumers to save time and shop online
more conveniently, as the search and order process is triggered by voice alone, and an order can be
placed flexibly from anywhere without the consumer having to hold a device in their hands. Thus, this
subarea is distinguished by its increased comfort and usability due to the reduced input form
(Heinemann, 2017).

(3) Socio-Economic Perspectives on Consumer Engagement and Buying Behavior

Consumerism is a social and economic order that is based on the systematic creation and fostering of a
desire to purchase goods or services in even greater amounts. The term “consumerism” is also used to
refer to the consumerist movement or consumer activism, which seeks to protect and inform consumers
by requiring such practices as honest packaging and advertising, product guarantees, and improved
safety standards (Mirchevska and Markova, 2011). Consumerism defines a specific analysis category that
studies the phenomenon that came up with mass production development and consumption expansion
(Bostan, Burciu and Grosu, 2010).

). A specific analytical discipline known as consumerism investigates the phenomenon that resulted from
the growth of mass production and increased consumption.(

Consumerism and sustainable consumption have also flourished as a result of consumers becoming
more caring, environmentally and socially aware and are demanding a say in the production, processing
and resourcing of the products that they regularly purchase. The increasingly well-informed consumers
and their heighten expectations and demands have put pressure upon marketers for fairly traded
products, for guarantees of the ethical claims marketers make about their products, for safe products,
and for the careful disposal of waste. This trend puts pressure on the business sector to respond and
adapt but it also creates a market opportunity for companies since those that manage to respond
quickly to the shopping public’s concern about for example issues such as health, animal welfare and
environmental damage have the potential to build a strong reputation, a consumer preference and gain
a competitive advantage
(4) Pricing, Online Marketing Behavior, and Analytics

Digital marketing is based on and takes advantage of the use of new technologies to collect, manage,
elaborate, and provide information so as to communicate with customers and to conduct economic
transactions. Also, marketing metrics for business performance control can be more insightful and
efficient than in the past because of these new technologies. New technological equipment has
offered to online sellers an unprecedented chance to track and analyze customer behavior and to
obtain valuable information about customers’ prefer- ences (the possibility of customizing products)
and greater knowledge about their price sensitivity and their willingness-to-pay (Hinz et al., 2011).
One of the most powerful online marketing tools is social media, which offers massive opportunities
if used properly. Conversations are key elements in search processes (Shao et al., 2012). Social
media can be used on a corporate as well as an individual level, with the main goal being the
enhancement of the brand image. Firms have always tried to sell goods at the highest possible price
that consumers will pay, but in the last century they have developed many techniques and software
programs based on scientific methods. Some examples are personalized pricing, markdowns,
coupons, promotions, and discounts. With these tools, firms try to respond to market fluctua- tions of
demand.
Reference prices have a significant effect on consumers’ purchase-timing decisions (that is a critical
factor for most services and durable product purchases): they evaluate when it is time to buy
according to the difference between the actual category value and the reference category value.
Behavioral retargeting (also known as behavioral remarketing) is a form of online advertising that
regains a potential consumer interest to purchase the goods by displaying the advertiser’s ads while
the consumer is visiting other websites. Companies offering retargeting services state strong
increases in advertising effectiveness for example, Criteo (2010) reports that personalized retargeting
ads are six times more effective than standard banner ads. The advertising networks that combine
online advertising space across multiple publishers of web content and then sell this space to the
adver- tisers usually arrange for retargeting. Advertisers do not need to manage their relations with a
large number of publishers to achieve online ad space market efficiency. Online feedback
mechanisms and customer reviews have a deep impact on customer purchase intentions (Mauri &
Minazzi, 2013).

(5) Essentials of Consumer Behavior

Behavior, on the other hand, is directly observable; we can watch consum- ers as they shop, make
purchases, use products, and share experiences with other consumers both online and offline.
Consumers’ interactions with one another are as important to understand as consumers’ responses to
marketing; increasingly we rely on user reviews to make purchase decisions, and on user advice to
resolve product malfunctions. using network analysis they can trace the path of an innovative product
or idea from the individual(s) who first adopt or purchase it and tell others about it, to the very last
people to adopt it. With the speed of digital communication and the multiplicity of social networking
media, it is essential for marketers to understand and capi- talize upon these patterns of influence that
crisscross the globe but may be strong and lasting nonetheless.

Consumers usually decide to make a habitual purchase when they need to replenish their supply of
the item. Most habitual purchases are products we literally use up—food, household supplies,
personal care product. Many consumers do all or most of their brand research and evaluation using
online resources and visit stores only when they have narrowed their consideration set to a very few
brands or decided on one. These consumers do not wish to linger or browse, but rather focus on the
item(s) of interest and, once they have scrutinized and selected an alternative and completed a final
price check, they seek an efficient purchase experience from a reputable retailer that offers extended
warranties and full refunds for returns. A majority of us also use them for social networking, taking
pho- tos and videos, and accessing news.3 Our needs to connect with others, to capture moments for
future enjoyment, and to access information are not new, but technology offers us more and richer
ways to fulfill those needs. Moreover, Pew Research notes, “Smartphones serve as an access point
for navigating a wide array of important life events, from health conditions to new jobs” (Anderson,
2015).

(6) International Consumer Behavior in the 21st Century

Improved conditions for the global consumer, by definition, mean improved quality of life. It is
expected that the features listed in Exhibit 1.3 are likely to become even more effective as
communication technologies are improved and global culture gains even greater recognition. This is
encouraging firms to market their products on a global basis, with reduced adaptation of these
products to local markets (Kotabe and Helson 2010) International companies simply have to use
these social media to understand and communicate with their target markets. However, with
international social media one additional dimension in this area has emerged, that is, people-to-
people communication successful marketing strategies emphasize critical areas to satisfy consumer
needs in the most effective manner. Satisfying the needs of international consumers depends strongly
on understanding their behavior patterns. Satisfaction of con- sumer needs as indicated by their
behavior patterns would enable the international marketer to create an international competitive edge
or competitive advantage. Global products are tailored for global markets and are marketed and
distributed in many parts of the world. Local products, on the other hand, are tailored for local
markets and are available only in the consumer’s home country (Steenkamp and Jong 2010).

(7) Website Quality and Shopping Behavior

Online business, commonly referred to as e-commerce, describes the process of buying, selling, and
delivering services using electronic media. Because e-commerce relies most of its activities on
websites that serve as the main channel of communication between the company and the customer,
they must be designed to meet all customer needs.
Researchers also pay attention to the visual behavior of individuals in connection with online
advertising. Hsieh and Chen (2011) investigated the effects of three types of ads including content
based on text, text and images, and, images and video. Bahr and Ford (2011) focused on analyzing
user responses to pop-up windows and found that pop-ups are perceived negatively both visually and
cognitively.

While browsing websites, users are exposed to a great deal of information, and they must constantly
sort the information, distinguish between reliable and unreliable information, and discard the so-
called unwanted information. For this reason, it is necessary to consider the impact of the quality of
information on the overall user experience. If the information on the site is incorrect, misleading, or
misspelled, it can lead to a general dissatisfaction with the web portal. On the other hand, well-
structured information can have a positive effect on the user’s ability to complete a desired task (e.g.,
searching for specific information, completing a web transaction, etc.) However, presenting
information on mobile websites is much more demanding than adjusting information for desktop
computers. The main limitations are the smaller screen size and the context of use (Garcia-Lopez,
Garcia-Cabot, Manresa-Yee, de-Marcos, & Pages-Arevalo, 2017; Jeong & Han, 2012; Lee &
Koubek, 2010b).

Some of the authors have attempted to uncover the cognitive process of the consumers and
advertising effectiveness in terms of capturing online user’s attention by applying combined research
methods including qualitative questionnaires, eye-tracking technology, neurocephalogram, or ECG
(Bhatt, Agrali, McCarthy, Suri, & Ayaz, 2019; Huang, Su, Zhou, & Liu, 2013; Li, Huang, & Bente,
2016) Digitizing and moving a significant part of business activities into the Internet environment
have created a strong competitive edge with increased demands on companies’ ability to present their
products and services through online channels. With the growing number of Internet users and an
expanding e-business sector, the issue of identifying how consumers process digital information and
describing factors influencing customer behavior and the buying process in the online environment is
at the forefront.