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Neuroeconomics as a tool for forecasting consumer behaviour
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The study aimed to substantiate the potential of the neuroeconomic approach for analysing the mechanisms underlying consumer behaviour formation and to evaluate its effectiveness in forecasting market reactions. The methodological framework was based on a combination of behavioural and neuroeconomic approaches, alongside the application of elements of theoretical generalisation, statistical, comparative, case study, and SWOT analysis. The results of the statistical analysis established that in 2024, the Ukrainian digital advertising market grew by 35% compared to the previous year, confirming the strengthening role of behavioural digital analytics within the marketing research system. It was determined that the parameters of interaction with a stimulus are formed within the first few hundred milliseconds; specifically, fixation durations of 200-300 ms correspond to cognitive information processing, while the initial allocation of attention within the first 2-3 seconds determines the subsequent perceptual structure. Within the analysis of neuroeconomic methods, it was established that electroencephalography enables the assessment of emotional activation levels and cognitive load, visual tracking facilitates the analysis of attentional structure and the sequence of visual stimulus processing, and multimodal approaches enhance the accuracy of forecasting behavioural reactions through the integration of neural and behavioural indicators. A case study analysis of the Ukrainian consumer market revealed that the traditional marketing approaches employed by ATB-Market and Silpo predominantly focus on analysing turnover, demand structure, and loyalty programmes, whereas COMFY and VARUS utilise behavioural digital analytics and personalised interaction models to adapt digital services to shifts in consumer patterns. It was established that COMFY’s e-commerce segment grew by 43% in 2024, accompanied by an update to the website structure and the optimisation of the digital customer journey. The conducted analysis demonstrated that the strengths of neuroeconomic approaches lie in the high accuracy of analysing emotional and cognitive reactions, the capacity to identify non-conscious factors of choice, and the integration of neurodata with behavioural digital analytics, whereas the principal risks are associated with neurodata privacy, algorithmic influence, the complexity of interpreting neurophysiological signals, and the absence of clear regulatory mechanisms. The practical significance of the research lies in expanding approaches to consumer behaviour analysis through the integration of traditional and neuroeconomic methods, thereby enabling an increase in the accuracy of assessing consumer reactions in the digital environment
Title: Neuroeconomics as a tool for forecasting consumer behaviour
Description:
The study aimed to substantiate the potential of the neuroeconomic approach for analysing the mechanisms underlying consumer behaviour formation and to evaluate its effectiveness in forecasting market reactions.
The methodological framework was based on a combination of behavioural and neuroeconomic approaches, alongside the application of elements of theoretical generalisation, statistical, comparative, case study, and SWOT analysis.
The results of the statistical analysis established that in 2024, the Ukrainian digital advertising market grew by 35% compared to the previous year, confirming the strengthening role of behavioural digital analytics within the marketing research system.
It was determined that the parameters of interaction with a stimulus are formed within the first few hundred milliseconds; specifically, fixation durations of 200-300 ms correspond to cognitive information processing, while the initial allocation of attention within the first 2-3 seconds determines the subsequent perceptual structure.
Within the analysis of neuroeconomic methods, it was established that electroencephalography enables the assessment of emotional activation levels and cognitive load, visual tracking facilitates the analysis of attentional structure and the sequence of visual stimulus processing, and multimodal approaches enhance the accuracy of forecasting behavioural reactions through the integration of neural and behavioural indicators.
A case study analysis of the Ukrainian consumer market revealed that the traditional marketing approaches employed by ATB-Market and Silpo predominantly focus on analysing turnover, demand structure, and loyalty programmes, whereas COMFY and VARUS utilise behavioural digital analytics and personalised interaction models to adapt digital services to shifts in consumer patterns.
It was established that COMFY’s e-commerce segment grew by 43% in 2024, accompanied by an update to the website structure and the optimisation of the digital customer journey.
The conducted analysis demonstrated that the strengths of neuroeconomic approaches lie in the high accuracy of analysing emotional and cognitive reactions, the capacity to identify non-conscious factors of choice, and the integration of neurodata with behavioural digital analytics, whereas the principal risks are associated with neurodata privacy, algorithmic influence, the complexity of interpreting neurophysiological signals, and the absence of clear regulatory mechanisms.
The practical significance of the research lies in expanding approaches to consumer behaviour analysis through the integration of traditional and neuroeconomic methods, thereby enabling an increase in the accuracy of assessing consumer reactions in the digital environment.
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