Marketplace risks and vulnerable consumers

Purpose Despite the growing impact of socio-economic insecurity and geopolitical tensions on contemporary marketplaces and vulnerable consumers, the concept of risk has remained under-researched in marketing theory and practice. Accordingly, this conceptual paper aims to highlight and critically examine the interrelationships between novel forms of risk and marketplace phenomena. Design/methodology/approach This study adopts a conceptual approach guided by an interdisciplinary and humanistic understanding of risk-related phenomena. Synthesizing academic studies, government data and contemporary media reports, this paper provides theoretical and practical guidance for rethinking marketplace risks and vulnerable consumers. Findings The contribution of this study is threefold. First, this paper identifies the emergence of new and under-discussed risk conditions, stemming from the micro- and macro-environment, and their impact on vulnerable consumers and communities. Second, this study critically discusses the inclusivity processes and ideological underpinnings structuring empirical research designs, experts’ reports and (mis)representations of marketplace risks. Third, this paper proposes how marketing scholars can use innovative methodological frameworks and qualitative research tools to examine and mitigate emerging risks in diverse and unexplored contexts. Practical implications Researchers and public policymakers can consider and infuse the findings of this study to inform the implementation of strategies and policies seeking to improve living conditions in deprived, ecologically sensitive and armed conflict-ridden marketplaces. Originality/value This paper provides fresh insights on how qualitative methods can explore and tackle the impact of risks stemming from rising inequalities, geopolitical tensions and climate change upon marketplaces and vulnerable consumers.