Factors Influencing Consumer Behavior

The digital revolution means the massive change brought by digital electronics and information and communication technology particularly since the second half of the 20th century and continues to this day. Digital revolution is sometimes also referred to as the third industrial revolution. It began with the invention of the transistor in 1947 which led to the creation of more advanced and powerful digital computers. First personal computers eventually appeared in the 1970s. During the 1980s these computers became more familiar with the government and general public of developed nations and by the late 80s computers became a necessity of many businesses around the world. World Wide Web was released to the public by 1992 and soon enough many corporations started to quote their websites in their ads. Cell phones became very common in 2000 and 3 billion people use cell phones worldwide by the end of the decade. Tablet computers and smartphones have now appeared and are expected to exceed the number of personal computers by the end of 2015.

Digital revolution has made drastic changes to the overall business environment around the world. It has influenced the way consumers around the world think about the products and the way they search for the products that cater to their needs. In short, the digital revolution has changed consumer behavior to a great extent. The revolution has also promoted competition among global firms.

These changes can be seen as follows:
The great use of digital tools and information and communication technology is the essence of the digital revolution and it continues with every new invention that supports human life. At present-day technologies like smartphones, GPS device (Global Positioning System), Notebooks and tablet PCs, social networking, etc. have changed our lifestyles by how we communicate, stay up-to-date and interact with each other.&nbsp.&nbsp.