Digital transformation of consumer behavior and the socio-economic policy of the State

Abstract

Subject. The article examines the impact of digital transformation determinants on the consumer behavior model. Objectives. I set my own approach to adjusting the socio-economic policy of the State so as to accumulate positive effects of the digital transformation of households' consumption and create a new society of consumers. Methods. The study is based on principles of the systemic integration and cross-disciplinary approaches. Results. I substantiate the scientific concept about the origination of the digital paradigm of the modern society and transformation of the consumption and the conceptual model of the consumers' economic behavior in the digital economy so as to amplify and unfold the theory of consumption. The article indicates socio-economic and institutional mechanisms for accumulating positive effects of the digital transformation of households' consumption and create a new society of consumers. Conclusions and Relevance. The integration of brand new technologies, accelerating globalization, use of information as a key production driver are indicative of an emerging paradigm of the economic development, i.e. the digital economy. I present my own conceptual model of consumer behavior, where the consumer is concurrently viewed as the center of his/her own ecosystem and leaves a digital trial through related constituents of the digital environment. Understanding the phenomenon, I managed to describe social and economic externalities arising from the digitalization of consumption. I also formulated financial and institutional mechanisms for the national policy to eliminate negative effects and raise a new society of consumers.