Consumer segments according to their perception of the value of money after the coronavirus pandemic from the financial literacy aspect

Abstract

Values are one of the most important consumer characters in determining the outcome of consumer decisions. It is no coincidence that a number of value system research methods have been adapted by Consumer Behaviour in order to gain a more nuanced understanding of the intrinsic context of consumer decision-making. The issue of money and the use of money has been particularly heightened during the pandemic. A values-based approach to consumer behaviour argues that a consumer's basic human values determine his or her attitude towards a product or service. In our research, we have sought to answer the question of which consumer segments can be characterised by individual value orientation and its imprint on money management. The changes caused by the pandemic and the transformation of consumer preference systems make it particularly justified to analyse the nuances of consumer decisions and, within them, the perception of money. In the framework of their primary research, we carried out quantitative data collection through a standardised online questionnaire survey. As a result of the research, distinct consumer segments were characterised, which may provide a good basis for service providers wishing to reposition their products and services after the pandemic.