Identify two reasons why consumer patterns change.
Understand the Problem
The question asks for two reasons that explain why consumer patterns (i.e., how and what people buy) are subject to change. This requires identifying factors that influence consumer behavior over time.
Answer
Macroeconomic conditions and new products.
Consumer patterns change due to macroeconomic conditions like inflation affecting purchasing power, and the introduction of new products influencing consumer preferences.
Answer for screen readers
Consumer patterns change due to macroeconomic conditions like inflation affecting purchasing power, and the introduction of new products influencing consumer preferences.
More Information
Understanding shifts in consumer behavior is crucial for businesses to adapt their strategies effectively.
Tips
Be mindful of providing specific and distinct reasons rather than overlapping factors.
Sources
- 8 Reasons Why Consumer Spending Patterns Change - mastercardservices.com
- How Consumer Behavior Changed in 2023 - Sinuate Media - sinuatemedia.com
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