Demand-side perspective on the informal economy : a review and research agenda

Małecka, Agnieszka (author), Mitręga, Maciej (author), Pfajfar, Gregor (author)

This study presents a focused and cohesive investigation into the demand side of the informal economy through a systematic literature review (SLR) of 76 peer-reviewed articles. While previous research has predominantly addressed supply-side dynamics, this study shifts the focus to consumer related factors within informal markets. The review follows a rigorous protocol using Web of Science and Scopus databases, adhering to PRISMA guidelines and applying established frameworks: theories–contexts–methods (TCM) and antecedents–decisions–outcomes (ADO). Our findings highlight that while consumer antecedents—such as economic, social, and contextual drivers—are well documented, decisions and outcomes remain underexplored. This study contributes by developing an integrative model that maps the complex interplay between consumer behavior, firm strategies, and policy responses. Theoretically, it advances understanding by bridging informal economy literature with marketing and behavioral theories. Practically, it offers actionable insights for policymakers, businesses, and informal actors, enabling more inclusive and responsive approaches to economic governance and consumer empowerment.

• Language: English
• Keywords: marketing, grey economy, demand, consumer behaviour, antecedents–decisions–outcomes framework, ADO framework, cash-in-hand, consumer-side perspective, demand-side perspective, gray market, informal economy, shadow economy, systematic literature review, theories–contexts–methods framework, TCM framework
• Work type: Article
• Typology: 1.02 - Review Article
• Organization: EF - School of Economics and Business
• Publication status: Published
• Publication version: Version of Record
• Year: 2025
• Number of pages: 44 str.
• Numbering: Vol. 49, iss. 4, art. e70084
• PID: 20.500.12556/RUL-176748
• UDC: 339.138
• ISSN on article: 1470-6423
• DOI: 10.1111/ijcs.70084
• COBISS.SI-ID: 240610051
• Publication date in RUL: 10.12.2025

Record is a part of a journal

• Title: International journal of consumer studies
• Publisher: Wiley
• ISSN: 1470-6423
• COBISS.SI-ID: 4686409

Licences

• License: CC BY 4.0, Creative Commons Attribution 4.0 International
• Link: http://creativecommons.org/licenses/by/4.0/
• Description: This is the standard Creative Commons license that gives others maximum freedom to do what they want with the work as long as they credit the author.

Secondary language

• Language: Slovenian
• Keywords: trženje, siva ekonomija, povpraševanje, vedenje potrošnikov

Projects

• Funder: ARIS - Slovenian Research and Innovation Agency
• Project number: P5-0177
• Name: Slovenija in njeni akterji v mednarodnih odnosih in evropskih integracijah