THE INTERPLAY OF HISTORY AND MODERN TRADE: A REVIEW ON HOW HISTORICAL NARRATIVES SHAPE CONSUMER PERCEPTIONS AND PURCHASE DECISIONS
Uneku Ikwue, Ekene Ezinwa Nwankwo, Nsisong Louis Eyo-Udo, Awele Vivian Ekwezia, Kelechi Chidiebere Ihemereze, Chibuike Daraojimba
This is an open access article distributed under the Creative Commons Attribution License CC BY 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited
The intricate interplay between historical narratives and modern commerce offers a rich tapestry of insights into consumer behavior, brand identity, and market dynamics. This paper delves into the profound impact of historical narratives on shaping contemporary trade, emphasizing their role in crafting brand stories, influencing consumer perceptions, and driving purchase decisions. In an era characterized by rapid technological advancements and shifting socio-cultural landscapes, historical narratives serve as a bridge, connecting brands with their audiences and fostering a sense of authenticity and trust. However, the commercial appropriation of these narratives is fraught with challenges. Brands face the risk of misrepresentation, oversimplification, or even commodification of historical events and figures, leading to potential backlash and reputational damage. The paper underscores the need for brands to approach historical narratives with caution, ensuring accuracy, sensitivity, and respect for diverse perspectives. Furthermore, new technologies, such as virtual reality, offer brands unprecedented opportunities to craft immersive experiences, allowing consumers to delve deep into historical timelines and narratives. Yet, with these opportunities come significant responsibilities. The paper concludes with a call to action for businesses to recognize the ongoing importance of understanding and respecting historical narratives. It emphasizes the need for ethical use, urging brands to invest in research, engage with historians, and consult diverse stakeholders to ensure their use of history is both impactful and respectful. In essence, the paper offers a comprehensive exploration of the confluence of history and modern trade, highlighting its challenges, opportunities, and responsibilities.