Understanding, analysing and tracking customer consumption habits is critical for both business and product development industries.
Deciphering the processes behind customer decisions means we can use that information to increase profits.
In this article, we explain what consumer habits are and why they are important.
What are consumer habits?
Consumer habits focus on the study of consumer behaviour and the processes they use to choose and discard products and services. In this aspect, emotional, mental and behavioural responses are also taken into account.
The consumption habit is often influenced by different factors, therefore an analysis of purchasing habits should reveal:
- What consumers think and how they feel about different alternatives (brands, products, etc.).
- What influences consumers when choosing between various options.
- How consumer’s behaviour while researching and buying.
- How consumer’s environment (friends, family, media, etc.) influences their consumption habits.
Why is it important to analyse consumer habits?
The study of buying habits is important because it helps strategic design professionals understand what elements influence people’s purchasing decisions. And in this sense, understanding how consumers decide on a product can fill the gap in the market and identify the products that are needed to discover the products that have become obsolete.
Understanding consumer buying habits is the key to reaching customers, engaging them and converting them into buyers.
By studying consumer psychology, consumer buying patterns and the forces behind customer habits and linking this to market research, companies can find out shopper trends to develop new products, target marketing campaigns and increase profitability.
Factors influencing consumers
When launching a product there will be a number of factors that will influence consumer choice. These are the following:
- Personal factors: an individual’s interests and opinions can be influenced by demographic characteristics such as age, gender, culture, etc.
- Psychological: an individual’s response to a marketing message will depend on their perceptions and attitudes.
- Social: family, friends, education level, media, social networks and income will also influence consumer behaviour.
One of the strategies that can be used to identify consumer patterns and find out whether a product will work in the market is the use of consumer panels and panellists, i.e. a group of selected individuals who represent the target audience and test products before they are launched.
Consumer habits and product development
Understanding what customers want and need will determine the focus of product design and in this sense, designing a product that can best meet their expectations.
This can involve anything from adding new features to an existing product to developing a completely new one. Similarly, knowledge of consumer habits can also be used to determine how best to position and market products.
Understanding consumer habits is essential for a company to be successful both with its existing products and in launching new products.
Due to changes in fashion, technology, trends, lifestyle, disposable income and other similar factors, consumer habits also change.
In this respect, analysis of purchasing habits may indicate changes in market trends, such as the recent trend of consumers towards environmental friendliness, healthy food and superfoods.
For example, knowing that today’s customers are more concerned about the environment, it makes sense to think that organic products will be better received by consumers.
However, each consumer has a different thought process and attitude towards the purchase of a particular product. That is why it is important to study the buying habits of our target audience and to be able to draw out patterns of behaviour of similar people.
Do you want to analyse the consumption habits of your potential customers and develop a successful product? In INFINITIA Industrial Consulting we help you, contact our Strategic Design team to offer you the best solution.