BEYOND DEMOGRAPHICS: EMPIRICAL EXAMINATION OF MULTIDIMENSIONAL CONSUMER VULNERABILITY

Abstract

In digitalised markets, consumer vulnerability is often regarded primarily as demographic phenomenon, although it is strongly influenced by functional, emotional, and contextual factors. This study empirically tests a multidimensional model of consumer vulnerability and examines its associations with perceived market exposure (PME) and institutional protection activation (IPA), defined as the tendency to activate institutional protection mechanisms. As digital services become increasingly complex and the gap between regulatory approaches and the concept of the “average consumer” widens, empirically validated models that capture different forms of vulnerability in the European context remain scarce. The paper therefore proposes an eight-dimensional model of consumer vulnerability, comprising five established dimensions (informational, cognitive, emotional, procedural, and digital vulnerability) and three new ones (affective, overloaded, and delegated vulnerability). A quantitative two-phase design was implemented using two independent consumer samples from Croatia. Exploratory factor analysis, confirmatory factor analysis, and structural modelling were used to validate the measurement model and test the hypothesised relationships. Informational, cognitive, emotional, affective, and overloaded vulnerability were positively associated with higher PME, whereas only procedural vulnerability was associated with a greater propensity to activate institutional protection. Digital and delegated vulnerability did not show significant direct effects on IPA. The study operationalises three novel vulnerability dimensions and clarifies which forms of vulnerability are linked to passivity and which are linked to seeking institutional help. Practical and regulatory implications include developing tools for the early identification of vulnerable groups and designing more targeted protective measures in digital environments.