Neuroeconomy and Neuromarketing: The Study Of The Consumer Behaviour In The COVID-19 Context

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Background

Consumer decision-making processes have attracted the attention of researchers from different scientific disciplines for many decades. The conscious and unconscious development of choice and differences in behavior have been attempted to be captured by behavioral models, including variables such as risk, uncertainty, or limited rationality.
Recently, thanks to technological advances, consumer behavior has begun to be studied from a neuroscientific perspective, which allowed the analysis of choice and decision processes in a more comprehensive way by combining with physiological and psychological perspectives. Therefore, Neuroeconomics and Neuromarketing are disciplines that analyze how the human brain processes commercial and economic information, and transforms them into specific consumer choices. In general, it is assumed that these choices are developed in a logical way, selecting the option that represents the greatest utility. However, there are cases in which the best decision is not always reached.

The pandemic caused by Covid-19 is causing major changes worldwide, not only in the health and healthcare field, but also in the economic field. As different governments work to stop the growing number of victims, consumers around the world are beginning to suffer the economic consequences. In a very short time, economies are showing significant drops in their economic indicators, even exceeding those reached during the last global crisis. The current situation has not only highlighted the significant production imbalances between countries, but the temporary or even permanent cessation of business activity is generating high rates of unemployment.
Covid-19 has led to significant changes in consumer habits and behaviour, mainly due to situations related to the confinement. Thus, the limitations on movement imposed at a global level are causing consumers to adopt new behaviours related to social distance. In this way, customers have drastically withdrawn most of the discretionary expenses, mainly services, and increased consumption through e-commerce, which has led to the development of Omnichannel context. In addition, the increase in the demand for home entertainment through streaming, or the generalization of compulsive buying and hoarding behaviors, mainly of basic necessities and hygiene products, identify this new situation. However, once this stage characterized by panic buying has passed, the effects of Covid-19 are also expected to have lasting effects on consumer habits and behavior. The trend among consumers will be towards consuming products that offer greater safety, seeking closeness and convenience. Therefore, the consumer's understanding of the effects that the current situation is causing becomes fundamental. Companies will have to act and change with people in the right way. Loyalty will be difficult to defend and trademarks must generate trust and affinity, seeking personality and the satisfaction of emotional needs.

Technological advances are making it possible to improve understanding of how the brain works when making decisions. It is possible to state that different situational factors can affect our decision making at a neuropsychological level. In this sense, we welcome contributions from all disciplines to address the following themes:
• Study of the effects of Covid-19 on short-term consumer behavior
• Analysis of the economic effects of Covid-19
• Social and psychological changes caused by the current situation of social change.
• Study of consumer behavior from the perspective of neuromarketing and/or neuroeconomics
• Forecasts of changes in habits and behaviour caused by Covid-19.
• The development of new marketing and distribution systems aimed at meeting the new needs of the markets.
• New retailing techniques adapted to consumer changes.

We encourage scholar to submit both empirical and theoretical contributions.


***Due to the exceptional nature of the COVID-19 situation, Frontiers is waiving all article publishing charges for COVID-19 related research in this Research Topic until December 31st 2020.***

Keywords: Neuroeconomy, Consumer, Behaviors changes, Covid19, Retailing

Important note: All contributions to this Research Topic must be within the scope of the section and journal to which they are submitted, as defined in their mission statements. Frontiers reserves the right to guide an out-of-scope manuscript to a more suitable section or journal at any stage of peer review.

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