The concept of the family life cycle has gained popularity in the last few decades due to its relevance in the consumer decision-making process. For example, as a person grows older, his buying choices depend less on his own needs and more on his family’s collectively.
Over the years, many models of consumer behaviour have been proposed, particularly in the context of the online shopping environment. A few of these models are; Engel-Kollat Blackwell Model, Kim, Ferrin and Rao’s (2008) model, Yan and Dai’s (2009) model, and Fang’s (2012) model.
Maslow’s hierarchal need is known as a theoretical psychology concept which deals with five stages of the human need in a pyramid.
Online shopping facilitates buying and selling of products and services beyond the geographical periphery. The array of interdependence and parameters that emerge from coalescence among consumer behaviour as well as economic and human behaviour lead to the emergence of several theories like the Marshallian economics model.