Consumer decision-making and psycho-social well-being as complementary perspectives: a narrative review

Abstract

Globalisation contributes to an abundance of marketing, which stimulates unneeded and unplanned purchases. Research indicates that although consumers differ in terms of their purchasing styles and their consideration of immediate and future consequences of purchases, they are also strongly influenced by their social environment. This is even more applicable to consumers who reside in urban environments, since they are to a greater extent exposed to products, social and work pressures. Hence, in order to minimise pressures, consumers often purchase socially motivated products such as idealistic household equipment. Household equipment comprises products that strongly communicate social standing and status in a symbolic manner. Literature in different fields has been examined in order to compile a connection-focused informative literature review, which provides a unique argument of interpretation from these various texts and settings. This review therefore highlights the implications regarding decision-making and a consideration of future consequences of decisions on consumers’ psycho-social well-being. To this end, the links between these fields of study are explored. To conclude, the importance of empirical research in the field is highlighted in order to empower consumers towards improved decision-making which could aid in their psycho-social well-being.