Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022)

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Relationship Between the Use of Cognitive Heuristic and Customers’ Digital Shopping Behavior in China During Online Shopping Festival

Authors
Chuxin Yu1, 1, *
1University College London, London, UK
*Corresponding author. Email: chuxin.yu.20@ucl.ac.uk
Corresponding Author
Chuxin Yu
Available Online 27 December 2022.
DOI
10.2991/978-94-6463-052-7_119How to use a DOI?
Keywords
Behavioral Economics; Cognitive Heuristics; E-Commerce; China; Framing Bias
Abstract

Cognitive heuristics, pioneered by two renowned psychologists Tversky and Kahneman, explains why individuals sometimes make “bad decisions”. Framing bias and anchoring and adjustment describe the situation in which individuals are influenced by both the way a description is worded and the initial valued, the “anchor”, of a product in the process of decision-making. Knowing customers’ tendency to use cognitive heuristic, Chinese e-commerce started to develop various marketing and promotional strategies, such as 618 online shopping festival characterized by huge discounts. Previous studies suggest that customers’ overspending and impulsive shopping arise from the use of cognitive heuristic. The present study distributed two sets of online questionnaires and carried out a correlational analysis. The results suggested a significant but weak positive correlation between customers’ use of cognitive heuristic and their mobile shopping behavior. Accordingly, future research is encouraged to recruit unbiased sample and divide participants into different age groups to explore age-specific preference of online shopping.

Copyright
© 2022 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
27 December 2022
ISBN
978-94-6463-052-7
ISSN
2352-5428
DOI
10.2991/978-94-6463-052-7_119How to use a DOI?
Copyright
© 2022 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Chuxin Yu
PY  - 2022
DA  - 2022/12/27
TI  - Relationship Between the Use of Cognitive Heuristic and Customers’ Digital Shopping Behavior in China During Online Shopping Festival
BT  - Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022)
PB  - Atlantis Press
SP  - 1060
EP  - 1068
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-052-7_119
DO  - 10.2991/978-94-6463-052-7_119
ID  - Yu2022
ER  -