Frontiers in Business, Economics and Management ISSN: 2766-824X | Vol. 11, No. 2, 2023 224 Research on Consumer Behavior in E‐commerce Based on Economic Psychology Analysis Ronghe Hu Shanghai Fragrant Hill Middle School, Shanghai, China Abstract: E-commerce is a relatively new way of trade, which brings production enterprises, circulation enterprises and consumption enterprises into a brand-new era of network economy and digital existence. Consumption behavior can be divided into positive consumption and negative consumption. The marketing factor is a good business strategy to change consumers from passive purchase to active purchase. A targeted marketing by an enterprise will greatly stimulate the purchase desire of the target consumers and prompt them to buy. At this time, it is very important to be good at analyzing the economic psychology in marketing, deeply understanding and controlling the consumer psychology, so as to promote marketing. This paper analyzes the economic psychology of consumers' online consumption and the specific performance of consumers' behavior in e-commerce, and puts forward how modern enterprises formulate relevant marketing strategies in the face of the specific psychology of online consumers. Keywords: Consumer Behavior, E-commerce, Economic Psychology. 1. Introduction Because e-commerce has obvious advantages such as high efficiency and low cost, coupled with the rapid development and perfection of Internet technology, e-commerce based on Internet technology has been widely used, and consumers' psychology has changed from curiosity at the beginning to rationality today [1]. E-commerce makes the production, exchange, distribution and consumption of economic entities such as producers, consumers and various market institutions look brand-new. Customer psychology and customer behavior are the starting point and basis for enterprises to carry out marketing. Consumers' consumption psychology and behavior are the starting point and basis for enterprises to formulate business strategies, especially market strategies, and have a direct impact on the operational effectiveness and development space of e-commerce. Based on the analysis of economic psychology, it is of great significance to study consumer psychology and consumer behavior in depth for further expanding e-commerce. 2. An Economic Psychological Analysis of Consumers' Online Consumption 2.1. Economic psychology of consumers' psychological needs Requirements are the guide to action. Now, people have different consumption needs. Therefore, only with a full understanding of consumers' needs and a full grasp of consumers' psychology can we meet different consumer needs, so as to achieve the company's profit purpose, survival and even development [2-3]. Psychology is a discipline that studies the causes, development trends and activities of various psychological phenomena, and its main research object is people. Marketing activities also need to be completed through in-depth research on people's psychological activities, so marketing is closely related to economic psychology. Many people only buy what they need. With the increase of people's income, they will have higher expenses. Therefore, an economic and psychological analysis of their marketing behavior can better understand the market trend. Because what you see in online stores is only pictures and text descriptions of goods, and you can judge whether the goods meet your own needs through these pictures and text, but there is a certain difference between pictures and text and physical objects. Therefore, the goods consumers buy online may not fully meet their needs. Under the condition that China's laws are not perfect, consumers' rights and interests are easily infringed, which brings consumers distrust of online stores. 2.2. Economic psychology of commodity packaging and publicity With the low cost and high efficiency of e-commerce and the rapid development of the Internet, e-commerce based on the Internet has been applied more and more, and the psychology of online consumers has gradually changed from initial curiosity to rationality [4]. Many consumers will have a good impression of products with beautiful packaging and celebrity endorsements. Therefore, businesses will make efforts in this regard according to consumers' psychology. When designing goods, they combine the characteristics of goods with the characteristics of goods and attach importance to the packaging of goods. When selling goods, they will invite stars to advertise, so that customers can have a good impression of their first contact, thus increasing sales. Besides, with celebrity endorsements, their products can be better publicized and attracted more customers. 2.3. Economic psychology of product buying and selling process The psychological factors of consumers' choice of online consumption mainly include cognitive factors, interpersonal factors and reorganization of time and space concepts [5-6]. At the same time, the shopping environment of online virtual stores is elegant and bright, which stimulates the visual senses, and consumers can reduce their psychological pressure and fatigue by spending money; In addition, online roaming allows consumers to get primitive indulgence, and some 225 people think that online shopping is a postmodern performance of the original role. Merchants no longer spread commodity information through product ordering meetings and press conferences, but instead, websites and webpages; Group gathering has become an individual's arbitrary time to browse and visit the website; The way for consumers to know about goods has also evolved from completely passive to actively searching and recording information online. Salespeople who have a certain understanding of sales psychology and can make good use of psychology can be more attractive to customers. Before selling goods, we should first introduce the information related to the goods to customers, and make a correct judgment on the customer's psychology through the customer's reaction, and finally reach a deal. However, the efforts of salesmen alone are not enough. Everyone's cognitive level is different, so prejudice in communication will always exist. 3. The Concrete Expression of Consumer Behavior in E-commerce In the internet environment, in the e-commerce environment, customers are no longer facing the computer screen, but facing a system. There is no noise, no temptation, and the items available for selection are no longer limited to a store or a company. In such a situation, consumers will show enough rationality. The specific performance of consumer behavior in e-commerce is shown in Figure 1: Figure 1. The concrete expression of consumer behavior in e-commerce 3.1. Wide range of choices With the rapid development of online shopping as a form of e-commerce, consumers are no longer restricted by traditional shopping information asymmetry, geographical location and other conditions. At the same time, the variety of shopping websites is increasingly rich, which also makes consumers choose more and more widely [7]. Online shopping prevents consumers from being over-promoted by sales staff during the shopping process, and can concentrate on purchasing the required goods, thus expanding the range of choices. 3.2. Pursue independent consumption The rapid development of the Internet in the world enables people to conduct transactions anytime, anywhere. Under the unique consumption pattern of e-commerce, consumers' consumption psychology and behavior show more complex and subtle changes, which have a certain impact on the operational performance of enterprises. Internet consumers are mostly young and middle-aged, with high analytical judgment ability. They are often very opinionated in consumption practice, and are not easy to accept tips, suggestions or advertisements from others, and are less influenced by the outside world. But he is good at proceeding from reality, weighing the performance, quality and advantages and disadvantages of goods, and making purchase decisions independently. 3.3. Rational price choice Economic behavior not only refers to people's economic activities that can be directly observed, such as consumption, investment, savings, etc., but also includes internal psychological factors that affect economic behavior, such as motivation, attitude, judgment and choice corresponding to external economic activities [8]. It is consistent with the purpose of psychophysics research, which means that if we start from the perspective of psychophysics, it will be more conducive to understanding, analyzing and applying marginal utility theory, so as to understand people's economic behavior more deeply. In e-commerce shopping, for individual consumers, they will no longer be confused by price games that first set a high price and then offer a discount. All kinds of cost analysis methods and information systems are more fully used for the 226 purchasing staff of the unit. They use computers to quickly compare various factors, such as purchase price, freight rate, discount rate, timeliness, etc., through pre-set calculation programs, and finally choose the most suitable purchase channel. 3.4. Emphasize the protection of personal privacy With the continuous progress of human society today, people's consumption has surpassed the traditional process of people's choice and purchase of products and services. Nowadays, consumers have more imagination, more curiosity and more desire for change and innovation. In the current network environment, there is not an effective online payment method or a reliable online credit system for e-commerce. In the process of payment, user information, credit card passwords, etc. are easily stolen, and even false orders appear, but they do not place orders, but ask for payment or refund, which will make online consumers feel afraid. Psychologically, people have a strong sense of protecting their privacy, which will inevitably reduce people's enthusiasm for shopping online. 3.5. Expression of product requirements In the modern society where time is as golden as gold, shopping is more about "immediacy", "convenience" and "convenience". In the traditional process of commodity selection, it takes a few minutes at most, and a few hours at most, plus the time of going back and forth, which consumes consumers a lot of time and energy, and online shopping makes up for this deficiency [9]. The consumer's purchase decision-making process includes five stages: need stimulation, information collection, comparative evaluation, actual purchase and post-purchase feeling. Generally speaking, network users have three basic needs: interest needs, gathering and communication. Users may buy products related to their interests because of their interests. Under the condition of e-commerce, consumers can choose the products that suit their needs online according to their own needs. 4. Strategies to Promote Consumers' Buying Behavior Under the Mode of E-commerce 4.1. Create a good shopping environment for e- commerce At present, online transactions on the Internet have involved all fields of social and economic life, and many problems in online transactions have also posed new challenges to the supervision and management of relevant departments. In the process of trading with consumers, e- commerce enterprises should effectively protect consumers' personal privacy and must not disclose consumers' personal data and personal information at will. At the same time, we should build a safe technical platform, establish a sound and effective credit mechanism, and improve the supporting system of relevant networks, so as to create a good e- commerce shopping environment. 4.2. Personalized product customization E-commerce must rely on modern logistics distribution system to ensure that goods are delivered to consumers by the nearest distribution outlets in the shortest time. This requires the establishment of a logistics distribution center with radiation outlets in the marketing area. Modern consumers are eager for personalized consumption. When developing e- commerce, enterprises should give full play to the advantages of network, divide consumer groups into different target markets according to different characteristics, meet the individual needs of each target market, and provide customized services. Purchasing motivation directly affects purchasing behavior. With the development of society, people's purchasing motivation is constantly developing, and with the continuous improvement of living standards, their demand level is also constantly improving. Psychological needs play a very key role in consumers' purchasing motivation and behavior. When their psychological needs are improved, their psychological expectations for goods will also be improved. The application of economic psychology in marketing is not only reflected in the sales link, but also runs through product design, packaging and publicity. Therefore, in this respect, the company should make good use of the first impression rule, the proximate cause rule and the halo effect. On this basis, we should strengthen the training of marketing personnel's psychology and marketing knowledge to adapt to the progress of society. 4.3. Flexibility of commodity prices For individual consumers, they can "shop around" and carefully select their favorite goods without interference, without having to buy some goods they don't like or need because of asymmetric information, limited geographical conditions and enthusiastic persuasion from merchants. Flexible commodity prices should be flexible and can be adjusted with changes in the market [10]. With the weakening of market monopoly, the phenomenon of price monopoly has also been broken, which requires enterprises to adopt more flexible pricing methods and build a more flexible price mechanism. Firstly, the system has the function of automatic price adjustment, which can be adjusted with the changes of seasons, market demand and prices of similar products; Secondly, it is necessary to have intelligent price negotiation function, which enables consumers to negotiate prices directly with merchants online. 4.4. Improve logistics efficiency Logistics is an indispensable part of e-commerce, and the timeliness and safety of logistics are important factors to measure consumers' shopping experience. E-commerce should cooperate with convenient, fast and safe logistics enterprises to ensure that goods are delivered to consumers quickly and safely. E-commerce must rely on modern logistics distribution system to ensure that goods are delivered to consumers by the nearest distribution outlets in the shortest time. This requires the establishment of a logistics distribution center with radiation outlets in the marketing area. 5. Conclusions E-commerce makes the production, exchange, distribution and consumption of economic entities such as producers, consumers and various market institutions look brand-new. Customer psychology and customer behavior are the starting point and basis for enterprises to carry out marketing. As a new marketing concept, e-commerce is produced to adapt to the development of internet technology and social changes, and has broad development prospects. In this case, it is very 227 necessary to study people's consumption psychology and behavior in e-commerce. 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