The trend in the market keeps changing and so on the buying behavior of the customers. External environments play a major role in deciding the consumer behavior. We all are under the control of the external factor for the every penny we spend.
The external factors decide even the cereal we purchase from the market for example, the nutrition level, the price, reputation of the brand, and the value all plays major role while purchasing the cereal. Also, season is having role on our buying behavior like when the winters knock the climate, the trend of buying woolen and warm cloths increases but after the winter passes, the trend of buying woolen and warm cloths switches to cotton and light cloths.
These are just some examples. There are several external factors that plays major role in deciding the buying behavior of the consumers. Here in this guide, we are going to discuss on some of these external factors and how they impact the buying behavior of the customers.
External factors that impact the buying behavior of the customers
Following are some of the external factors that impact the consumer behavior:
Time pressure is one of the major factors that are having an impact on the buying behavior of the consumer. For example, when the consumer is having much time for buying a particular product, they will consider several factors like quality, quantity, money value, price, uses, and many more. But when the time pressure is more and they need to take quick decision for buying the same product, instead of going through all the factors, they will consider only the most important ones.
When the time pressure is more and the person requires to make purchase in a limited time, they will tend to have the tunnel vision and go through the narrow sets of features.
For example, while buying any cereal, when the time is more, the consumer will tend to calculate the nutrition, money value, price, and quality, and many more. But when they are running late and have to make the purchase for the cereals in the last time, they will buy it on the basis of availability. Instead of going through several features the needs more mental processing, they will consider either the quality or the price and make purchase on the base of availability.
Mood is another important factor that impacts the buying behavior of the customers. For example, when the mood of the consumer is good, they are more likely to spend more in stuffs. For example, then the consumer is in mood to be healthy, they are more likely to buy Yoga classes subscription or similar, or will buy green tea or any other detox stuffs.
When the consumer is in stress mood and they have to go for shopping, they tend to spend less of their mental energy while going through the features of the product, instead simply buy it looking on the superficial features only. Also, the stress mood of the customers make them spend their money more on unhealthy food stuffs, instant noodles, icecream, etc. The purchase of the same products also increases when the customer is in good mood as well.
As mentioned in the starting, season is an important factor that is having impact on the behavior of the customers. Like in the beginning of the winter season, there is more trends of buying warm cloths while the increase in the environmental temperature shifts this trend to light and cool cloths.
Also, in the beginning of the year, many of the people take resolution to be healthy and adopt healthy habits. This time, there is more increase in the customers in gyms, yoga classes, more purchases of green tea, detox drinks, and similar healthy stuffs.
Similarly, during the festival time, there is increase in the purchase of sweets, decorative items, presents, etc. The vacation time like in summer vacation or the winter vacation in the schools, increase the purchase in the travel agencies.
Culture also plays a major role in deciding the consumer behavior. The things we buy are mostly influenced by the culture and people we are living in between. For example, people in south India are more into purchasing rice as the main cereal while in north India, peoples are more into wheat cereals, oats, etc.
Every region is having different culture and this impact the buying behavior of the people residing there as well. The traditions also influences the purchase of different products. For example, in India, there is tradition of lighting earthen lamps during deepawali and this result in increase in the sale of earthen lamps and other lighting stuffs during the deepawali festival time.
The society we live in also impacts majorly on the buying behavior of the customers. Here the society means the class based on different parameters like income, occupation, financial condition, education, etc. For example, people in higher society with more income and high education, they are more likely to invest in bigger home in posh society, good car, etc. While the middle class people prefer to have home in good but affordable society and affordable car.
Education is also an important factor that impacts the buying behavior of the customers, For example, a customer from medical line is more likely to consider the quality and the nutrition factor while purchasing food stuffs.
Advertisement and the influence from any celebrity also impacts the buying behavior of the customers.
Other influences include the family influence, national or regional influence that impacts the buying behavior of the customers.
The bottom line
So these are some factors that influence the consumer buying behavior.