Consumer Decision Making

What get's you into a shopping mood? Was it a recent pay raise? How about plain curiosity to see what new items have hit the shelves? I know from personal experience that there are three main thoughts that get me into a shopping mood: having a problem and needing to solve it (wearing my winter boots so often that I put a hole in one and need a new pair), getting my financial aid refund, and being curious to what stores have been putting out for the holidays (I love Halloween and Christmas).

Have you ever noticed how much you spend on impulse buying per month? Maybe it was on a new beauty product or a video game that was just released. I find myself adding random items to my cart at Target and then checking out and spending over $50 every time. This action actually has a term, purchase momentum. This is when consumers make an impulse buy and then continue to make them, some call this a shopping spree.

Have you ever felt overwhelmed by your options at a grocery store? For me, Walmart offers 5 or more different brands for the same product. Ranch dress, for example. On one hand, this is great because it allows me to try different kinds and determine which ones are my favorite. On the other hand, this could cause me to feel overwhelmed because I just don't know which one to choose. Should I buy Ken's ranch because I know I like it? Or should I try something new like Hidden Valley? Consumers may get psychologically exhausted from having too many choices. This is called consumer hyper choice.

Some stores, such as Walmart, are big-box stores and are known for having many different products and options within those products. Other stores are more niche and only carry certain brands and only one product, not variations of that product. Some examples are Wegmans and Trader Joe's. Wegmans often carries the majority of their brand. Next time you go, look and see the brand options for different products such as meat, baking products, and canned goods. Trader Joe's carries a lot of their own brand as well. They also carry different brands that you would not see at Walmart or Wegmans. Often the products are organic and a bit pricy.

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Ethnicity and Acculturation

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Perception

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Money Makes the World Go Round

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The Art of Consumer Behavior

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