Buying Habits of Consumers

What are the new Buying Habits of Consumers?

By understanding your consumers' buying habits and how they make decisions, you'll have priceless business intelligence at your disposal.

Purchase decisions are never made blindly. Even the most impulsive shoppers can be slotted into specific and predictable consumer buying decision categories.

Most buying habits are led by a number of factors that you may not have even thought of.

How does your target shop? How often? Where? When? How much do they spend? Do they shop independently? Or with a friend? Online? Or in store? How much research do they do? Are they impulsive? Are they negotiators?

And by understanding consumer habits better than your competition, you'll be able to sell your target what they want before they even know they want it. It will help us take consumer shopping to an entirely new level

I asked for responses for the question posted on “MSME WORLD” Forum

I got following responses from members, similar responses are clubbed together.

·         I am doing business, not able to understand customer decision making, and what factors are influencing them?

·         As a mobile developer, I have experienced that customers of the apps are more demanding now. Apps need to keep users engaged otherwise users they will remove the app. Also, users expect lot of quality features with almost no payment. Apps like Watsapp, facebook, instagram, google maps, gmail have set the standards really high and they all are free apps with almost no ads. So people are spending lot of time on mobile apps but not lot of money.

·         Best options of products, Best choice of prices

·         Unpredictable

·         Consumers are becoming more brand conscious

·         Rapidly changing landscape of buying things online. Groceries to merchandise as there are plenty of options available online to compare and choose the best

·         Quality service /product is the main criteria to bring back customers give repeated business.

·         Mobile space too is growing rapidly.. Consumers want quick and immediate results so it's important for businesses to have mobile presence

·         Deals and coupons are great ways to promote and win customers. Win win situation for both the parties

·         consumers do check the reviews before buying any product/service so having or maintaining good brand and positive review will help

·         Social media, seo. And other digital marketing campaigns

·         Online shopping which saves time n travel. I can compare features, price n buy as per wish n need. The moment I want a product to buy, I'll surely check it's reviews online.

·         they review the ratings before buying on Google plus or any other trusted source

·         Cheap and best...

·         if their need is sachiated 

·         after sales should be par excellence..in fact 24/7 would be awesome

·         Money is no more an issue provided the focus of the seller is in giving benefits to his customers

·         Buying decisions became fast, sometimes spontaneous

·         Gather information online, offline, post on facebook asking recommendations

·         Refund policies , if not happy goods can be returned

·         Advertisements, celebrity endorsements

·         More demanding , punish and overkill ( Maggi )

And by understanding consumer habits better than your competition, you'll be able to sell your target what they want before they even know they want it. It will help us take consumer shopping to an entirely new level. Hope the above post will benefit entrepreneurs.

 Join Msme World Entrepreneur Group on Facebook and Linkedin