Key factors affecting consumer decisions (Finance (You're spending…
Key factors affecting consumer decisions
You're spending influence can change by interest rate and cost of the borrowed money.
Taking out a loan to buy something you can't afford such as a house or car.
Items that are not advertised have a lower chance of being bought because not many people will think of it unless they need it or a friend has told them about it.
If their is a product that is advertised all over the shop and is described as really useful and an essential then a lot more people will buy it because they think it is just what they need.
The pollution that the product can produce can affect whether a shopper is going to buy it.
Some customers who are very concerned for the environment take how much packaging a product has into consideration.
Interests change as you get older, you're priorities change and You're personal desires.
A young kid aged 4-11 they'll want toys to play with, people aged 12-17 will want things like a gaming console and a phone, 18+ will want a car to drive, People in their 20s will want to find a home to start a family and elderly people will want to plan their retirement.
If a lady is looking for beauty products and cosmetics they will go to a beauty store and it will be female based (pink colours).
If an adult male is looking for tools to help them do stuff around the house they are going to shop somewhere such as Bunnings so it'll be more boy based (green colours).
If a shop sells different products but only one of that type or they're in a hard location to find this is not convenient for shoppers because it makes it harder for them.
If someone needs to buy a wide range of products they want shops next to each other or close together that sell what they are looking for this makes it more convenient for them.
If stores have overpriced products that customers can get for a lot cheaper at nearby stores then customers will not want to shop there.
If the price is cheaper then other stores selling the product then this will attract more customers because they want the best price for their buy.
If there is bad service such as: not enough cash registers, rude staff members and poorly managed walk ways this can annoy customers and make them not want to come back.
Good pre sales and after sales are good to attract customers and make then like the service of the store.