The Impact of Cognitive Biases on Consumer Decision-Making in Online Shopping: Analyzing the Role of Social Proof and Scarcity Messaging

In the last few years, consumer behavior, online shopping, and their decision-making have been of great interest to many advertising and marketing professionals. The present paper tried to identify the role of two cognitive biases (social proof and scarcity messaging), that have an impact on the consumer's mindset and end up buying the product. These biases often deviate from rational decision-making processes and can significantly influence consumer behavior. The psychological aspect, behavior, and mindset are crucial in understanding consumer behavior. A small survey on online shopping and cognitive biases was done through Google Forms. Finally, this research paper provides insights for consumers to understand marketing strategies and buy according to their needs and not under the influence of cognitive biases.