Purchasing patterns are driven by factors
Posted: Sat Jan 18, 2025 6:47 am
Social influences
While you’re looking for general patterns, it’s helpful to remember that each individual customer is unique. All consumers are subject to a range of social factors including demographic considerations such as age and geography, lifestyle choices such as eating habits, as well as less tangible but still fundamental elements such as their ethical values. No two people have exactly the same combination. However, identifying subgroups of consumers whose buying patterns are similar can help with your targeting strategy.
But just one caveat. While you will be dealing with averages to colombia phone number list some extent, never forget that you can miss sales opportunities if you look in the wrong direction. For example, there is no reason why a retired high school senior shouldn't enroll in a data engineering certification course or why a high school senior shouldn't buy a luxury watch.
Social factors can be a useful guide, but you should never rely on them 100%. Consumers can – and will – surprise you.
Consumer psychology
And much has been written about how to harness the power of consumer psychology. From strategic product placement in grocery stores to discount timing on e-commerce sites, this is a well-trodden path.
such as perceived value or quality and the convenience of purchasing options. One example of this is the rise of contactless payments via cards and smartphone apps. According to Grand View Research, the total amount of money spent contactless in the U.S. is expected to grow by an average of 19% per year between 2020 and 2030.
Image source
While you’re looking for general patterns, it’s helpful to remember that each individual customer is unique. All consumers are subject to a range of social factors including demographic considerations such as age and geography, lifestyle choices such as eating habits, as well as less tangible but still fundamental elements such as their ethical values. No two people have exactly the same combination. However, identifying subgroups of consumers whose buying patterns are similar can help with your targeting strategy.
But just one caveat. While you will be dealing with averages to colombia phone number list some extent, never forget that you can miss sales opportunities if you look in the wrong direction. For example, there is no reason why a retired high school senior shouldn't enroll in a data engineering certification course or why a high school senior shouldn't buy a luxury watch.
Social factors can be a useful guide, but you should never rely on them 100%. Consumers can – and will – surprise you.
Consumer psychology
And much has been written about how to harness the power of consumer psychology. From strategic product placement in grocery stores to discount timing on e-commerce sites, this is a well-trodden path.
such as perceived value or quality and the convenience of purchasing options. One example of this is the rise of contactless payments via cards and smartphone apps. According to Grand View Research, the total amount of money spent contactless in the U.S. is expected to grow by an average of 19% per year between 2020 and 2030.
Image source