Consumer demand: online or retail stores

Abstract

Consumers’ interest in online trade increases constantly. Therefore, this paper addresses issues of such kind. The study presented contains the following aspects. First, consumer choice models are analysed in the paper. Second, the factors, which describe consumer choice between the online and retail stores, are determined through literature analysis; benefits and limitations for each store are reviewed herein. Third, the decision making tool, which incorporates above mentioned factors, is presented. Multiple criteria evaluation methods used for consumer choice analysis are overviewed, as well. The article is based on comparative and multiple criteria analysis. Multiple criteria evaluation method (COPRAS) is used for the development of a decision making tool. The aim of the research is to propose decision making tool used to make a choice between online and retail store. The proposed tool can be useful for researchers who analyse consumer’s behaviour.