Uncovering Paths to Purchase of Heterogeneous Consumers Using Clustered Multivariate Autoregression

A digital consumer’s purchase journey, referred to as the path to purchase, is non-linear and heterogeneous. Despite a strong interest in this concept, there are few published approaches to empirically extract consumers’ path to purchase (in terms of a sequence of different types of activities leading to purchase), especially in settings where consumers engage in multiple simultaneous activities in each period. We address this gap by proposing a...