Consumer behavior in the global dimension

Abstract

Annotation. Aim. The purpose of the article is to analyze the formation of consumer behavior in the global dimension and to identify development trends. Methodology of research. The purpose set in the article was achieved using methods of induction, deduction, generalization, and system analysis method. Findings. The article analyzes the elements of marketing strategies in the context of consumption globalization. Theoretical studies have shown that marketing strategies include variety, novelty, and availability of goods. The convergence effect of globalization has allowed companies to implement standardized behavior for consumers, consisting in the similarity in their desires and needs, values, tastes, preferences, and lifestyles. The analysis showed that the basis of marketing strategies in the mass production market is the consumer behavior to buy often and a lot. Digitalization has made it possible to make the process of making a purchase decision as easy as possible. Reducing the life cycle of goods, persuasive advertising, the availability of choice and purchase, fast delivery of online orders to the buyer are the key to income growth for companies choosing a marketing strategy of mass production, and on the other hand, the cause of overconsumption. It was revealed that the marketing strategy of brand consumption behavior standardization is sensitive to consumer income inequality. It was found that high uncertainty due to the war in Ukraine and lockdowns in China as a result of Covid-19, rising energy costs, disruptions in supply chains, and, accordingly, an increase in industrial inflation and the cost of servicing consumer loans, deteriorating employment rates led to a significant drop in the quality of life of consumers not only in most developing countries, but in developed countries too. The negative developments in the global economy resulting from the Covid-19 pandemic have had a significant affect on changing consumer behavior towards the development of responsible and environmentally friendly consumption. Practical value. It was revealed that one of the modern trends in the consumption globalization is that information about the country of origin is less and less important for consumers when they make a choice in favor of a particular brand of goods.