Learning to be digital consumers. How to improve young people’s financial skills in a technologically driven consumer society? (DigiConsumers)
The research was funded by Strategic Research Council at the Research Council of Finland.
Main funder
Funder's project number: 352544
Funds granted by main funder (€)
- 563 598,00
Funding program
Project timetable
Project start date: 01/09/2022
Project end date: 31/08/2025
Summary
echnological development and digitalization have caused major changes to consumer cultures and financial behavior of young people,
in particular. It is widely acknowledged that the digitalisation of consumption and marketing requires new financial skills from young
people, in particular. The DigiConsumers- project aims at developing tools for improving young people’s financial skills that are
connected to other 21th century skills. How to keep up in the economic turbulence of the future, and how to promote the readiness of
youth in the future global world that calls for innovative ways of solving complex problems?
The main research questions are:
1.How is digital technology changing young people’s consumer cultures and financial behavior, and which social and cognitiveaffective factors have an impact on consumption? What kinds of challenges and advantages technological development has brought
forth?
2.What kinds of educational tools are needed for educational institutes, families and policy makers to improve young people’s financial
and digital skills and consumer competence?
3.How to improve the ethical conduct of digital marketing and online services targeted to young people, in order to create a socially,
ethically and economically sustainable consumer society?
In order to understand the social, cultural and personal factors affecting young people’s financial behaviour in digital consumer
environments, we utilize multi-disciplinary expertise of researchers from the fields of sociology, psychology, and cognitive science
(WP1, WP2). To involve the context of school and learning, analysing the results of PISA, for instance, the expertise of educational
sciences is important (WP3, WP2). In the field of economics and computer science, (WP4), understanding the financial behavior of
young people and families and developing game-based interventions and digital tools to improve financial literacy is also central in this
project.
We expect DigiConsumers to produce directly applicable scientific knowledge on young people’s financial and digital skills and related
problems and advantages, and impacting social and subjective factors. We will recognise the challenges in this process, and develop
practical tools for improving financial skills through financial education in families, schools, relevant public institutions and NGOs. In
the long run, the results of DigiConsumers will build a socially and economically sustainable information society.
in particular. It is widely acknowledged that the digitalisation of consumption and marketing requires new financial skills from young
people, in particular. The DigiConsumers- project aims at developing tools for improving young people’s financial skills that are
connected to other 21th century skills. How to keep up in the economic turbulence of the future, and how to promote the readiness of
youth in the future global world that calls for innovative ways of solving complex problems?
The main research questions are:
1.How is digital technology changing young people’s consumer cultures and financial behavior, and which social and cognitiveaffective factors have an impact on consumption? What kinds of challenges and advantages technological development has brought
forth?
2.What kinds of educational tools are needed for educational institutes, families and policy makers to improve young people’s financial
and digital skills and consumer competence?
3.How to improve the ethical conduct of digital marketing and online services targeted to young people, in order to create a socially,
ethically and economically sustainable consumer society?
In order to understand the social, cultural and personal factors affecting young people’s financial behaviour in digital consumer
environments, we utilize multi-disciplinary expertise of researchers from the fields of sociology, psychology, and cognitive science
(WP1, WP2). To involve the context of school and learning, analysing the results of PISA, for instance, the expertise of educational
sciences is important (WP3, WP2). In the field of economics and computer science, (WP4), understanding the financial behavior of
young people and families and developing game-based interventions and digital tools to improve financial literacy is also central in this
project.
We expect DigiConsumers to produce directly applicable scientific knowledge on young people’s financial and digital skills and related
problems and advantages, and impacting social and subjective factors. We will recognise the challenges in this process, and develop
practical tools for improving financial skills through financial education in families, schools, relevant public institutions and NGOs. In
the long run, the results of DigiConsumers will build a socially and economically sustainable information society.
Principal Investigator
Primary responsible unit
Follow-up groups
Related publications and other outputs
- Online antecedents for young consumers’ impulse buying behavior (2024) Nyrhinen, Jussi; et al.; A1; OA
- Income and Career Concerns Among Emerging Adults From Finland, Sweden, and the United Kingdom During COVID-19 (2023) Nuckols, Julia A.; et al.; A1; OA
- Life course challenges in crises : transition from higher education to work during COVID-19 in Finland and Sweden (2023) Nuckols, Julia A.; et al.; A1; OA
- Loot box purchasing and indebtedness : The role of psychosocial factors and problem gambling (2023) Sirola, Anu; et al.; A1; OA
- Young adults' online shopping addiction : The role of self‐regulation and smartphone use (2023) Nyrhinen, Jussi; et al.; A1; OA
