Two Decades of Research on Consumer Behaviour and Analytics: Reviewing the Past to Prepare for the Future

Abstract

The present study is a systematic literature review that identifies the context of consumer behaviour and analytics in business to forecast the future of consumer behaviour with changing business trends through TCCM (theory, context, characteristics, method) guidelines. The authors identified that prior research used theories in different disciplines to explain the phenomenon in customer behaviour and analytics literature. When considering the theory, these phenomena often can be segregated based on the industry (e.g., marketing, advertising, sales, healthcare, human resource management, tourism), focusing on status-based mechanisms (e.g., cross-gaming predictive models), inertia-based mechanisms (e.g., theory of rational expectations and adaptive learning), or relationship-based mechanisms (e.g., theory of consumer engagement behaviour).