FACTORS INFLUENCING CONSUMER DECISION MAKING IN VIRTUAL SHOPPING MALLS

Abstract

The retailers have been testing and trying newer ways and means for engaging the customers. We need to understand the ever evolving retailing space in the light of consumer behaviour and how far consumer is comfortable with the newer computer based shopping models which are largely based on Internet-of-things, robotics, drones, and visual display mechanisms. Consumers are now bombarded with information and they need to take decisions in an environment which facilitates them easy comparison. As compared to the brick and mortar stores, the virtual shopping malls are at definite advantage as they capture the data like gender, age, shopping behaviour, post-purchase dissonance behaviour of the consumers as soon as they enter into the buying process. The current paper systematically presents the research studies carried on (1) Consumer Decision Making Process in VSMs and (2) Factors affecting consumer purchase decisions in VSMs. 31 papers which were directly or indirectly relevant to this area were selected and reviewed for the purpose of this study which became the part of this review paper. This review paper is based on the upcoming trends in retailing with special focus on virtual shopping malls.