A New Quality of Economic Growth as a Factor of Consumer Demand and Lower Inflation
摘要
The research aims to evaluate the impact of economic growth in the digital economy on inflation and consumer demand and explore how non-price factors influence consumer behavior in the market. The authors use a combination of theoretical and statistical methods to delineate the link in question. Statistical research is based on 2019–2023 statistical data obtained from the International Statistics Portal for Market Data and Market Research. In the research concepts and instruments of micro and macroeconomic analysis, some aspects of behavioral analyses were used. Globalization, driven by the Third Industrial Revolution and further advanced by the Fourth Industrial Revolution, has profoundly impacted consumer behavior in commodity markets. This influence is expected to persist in the coming years. To address this, it is essential to periodically measure inflation rates across all types of economic activities, particularly where inter-sectoral conflicts over monopoly pricing frequently occur. The results indicate a significant influence of non-price factors on consumer behavior in the new economic and geopolitical era. The consumer sentiment index determines consumers’ degree of sensitivity to changes in the economy. Studies have shown that inclusive and sustainable economic growth could solve or reduce social and environmental problems, ensure income growth, and ensure more effective distribution. This would induce consumer spending and reduce inflation simultaneously.