Analysis of Financially Aware Consumer Segments from the Perspective of Conscious Consumer Behaviour
Mónika Garai-Fodor
Abstract
Changes in production and consumption are necessary to address global environmental concerns.The consumer market is dynamic and constantly changing.The analysis of consumer patterns, preferences and attitudes, and the monitoring of changes in consumer decisions is of key importance for all professionals with a marketoriented approach.In this paper, I analyse the characteristics of the conscious consumer, including the financially aware consumer, from the perspective of consumer trends.In addition to being fully educated, consciousness also refers to a complex pattern of behaviour that includes both values and actions.After presenting the theoretical insights based on secondary data, I also provide a thorough analysis of the topic of financial awareness using data from quantitative primary research.As a result of, a selfadministered survey with 3,515 evaluable responses, well-differentiated segments of the population in terms of financial awareness were characterised.The findings provide statistical evidence of a link between financial awareness and financial and economic knowledge.I believe that the results will be beneficial for educational institutions, which play a key role in imparting financial and economic knowledge, and for organisations involved in improving financial literacy and in identifying the primary target groups, as well as for opinion leaders.Additionally, the results also serve as a basis for further potential opportunities for raising and expanding financial awareness among consumers.