Modern Consumer Psychology and Its Impact on the European Market

Kseniia Golovina

Bachelor's thesis

Abstract:

This thesis was created to analyze consumer psychology on the European market that took place in recent years. People’s purchasing decisions were changing because of high inflation and the energy crisis in the Europe. Other trends influenced the European market as well, e.g. environment-friendly goods, online shopping, marketing on social media. The first part of the literature review consists of essential principles of economics, consumer psychology, and factors affecting consumer behavior. The second part studies modern consumer buying tendencies and how the pandemic, high inflation rates, and energy crisis affected consumer behavior. The third part is about the European market and the current market situation related to e-commerce, consequences of the pandemic, and consumer behavior in conditions of high inflation and energy crisis. The practical part is based on own online survey, asking people how they react to current conditions of high inflation, energy crisis and new consumer trends. Hypotheses related to consumer consumption during turbulent times in 2022 and online shopping after pandemic were analyzed using observational, comparative and experimental methods.

Keywords

turbulent times, consumer expenditure, consumer psychology, European market, online shopping, pandemic, inflation, energy crisis, e-commerce

Language used: English

Date on which the thesis was submitted / produced: 19. 3. 2023

Thesis defence

• Date of defence: 15. 5. 2023
• Supervisor: Jared Daniel Jacques
• Reader: John McKeown

Czech University of Life Sciences Prague

Faculty of Economics and Management

Bachelor programme:
Business Administration