What is Consumer Behavior in Retail? Explained

Consumer behavior delves into the intricate study of individuals, groups, or organizations and how they make decisions related to acquiring, using, and disposing of goods, services, ideas, or experiences. This multidimensional field considers psychological, social, cultural, and economic factors influencing the decision-making process. For businesses, comprehending consumer behavior is essential in crafting tailored marketing strategies, designing products, and creating experiences that resonate with the target audience. This understanding plays a pivotal role in influencing purchasing decisions and fostering enduring customer relationships.