Consumer behavior refers to the study of how individuals make decisions to spend their available resources, such as time, money, and effort, on consumption-related items. It encompasses the psychological, social, and emotional factors that influence purchasing decisions, including attitudes, perceptions, motivations, and cultural influences. Understanding consumer behavior helps businesses and marketers to tailor their strategies and offerings to meet the needs and preferences of their target audience, thereby enhancing satisfaction and loyalty. This field includes examining the processes consumers go through in identifying needs, searching for information, evaluating alternatives, making purchases, and post-purchase evaluations.
Concerns About Inflation Grow As inflation worries mount, consumers are increasingly anxious about the economic horizon. The latest survey conducted by the University of Michigan reveals that the anticipated inflation…