Empowered consumers and growth: literature review - final report

Empowered consumers and growth: literature review - final report
Document type
Literature review
Peacock, Mark; Eatough, Marc
Date of publication
31 July 2012
Trends: economic, social and technology trends affecting business
Business and management
Material type

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A literature review is presented covering consumer empowerment and its desirable effects. Consumer empowerment is considered to help individual consumers save money and gain more satisfaction from goods and services, but it also helps the wider economy by increasing businesses' awareness of what their consumers require and improving competition. In extreme cases, consumers themselves may be directly involved in designing and specifying products. Examples of consumer empowerment, but also of market failure and lack of empowerment, are discussed. Consumer empowerment can be improved by provision of information and advice, collective purchasing schemes, consumer regulation, and improved education. Policy suggestions are made as to how government can best carry this out.

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