REVIEW OF CONSUMER BEHAVIOR THEORIES IN THE AGE OF SOCIAL MEDIA

Abstract

The advent of social media has significantly reshaped consumer behavior, necessitating a reevaluation of traditional theories and models. This literature review explores the evolution of consumer behavior in the digital age, focusing on how social media platforms influence purchasing decisions, brand engagement, and consumer trust. It examines classic consumer behavior theories—such as the Theory of Reasoned Action, Maslow’s Hierarchy of Needs, and the Stimulus-Organism-Response model—within the context of contemporary online interactions. Furthermore, the review analyzes how user-generated content, electronic word-of-mouth (eWOM), influencer marketing, and algorithm-driven content personalization are altering consumers' decision-making processes. By integrating insights from recent empirical studies and theoretical advancements, the paper highlights the emergence of new behavior patterns, particularly among digital-native consumers. The review concludes with a call for updated models that incorporate social, technological, and psychological dimensions to more accurately reflect current consumer behavior trends.