Social Factors Affecting Consumer Behavior
The modern world is always going through continuous changes in many areas that might affect the trade market. For example, fashion lines are changing rapidly and continuously, which is forcing companies to conduct continuous researches on these changes and try to satisfy the renewed taste in order to reap the highest possible profit. Also, social networks permeated the daily life of society, which also led to changes in the requirements of life significantly.
The modern generation has tended to use e-commerce in shopping widely, while the elderly category still prefers traditional shopping. Therefore, it is necessary for those working in the commercial market to focus on conducting extensive analyzes and researches covering the social, cultural, political, economic, environmental, ethical, and legal fields. In this article, we are going to study the main social factors that affect consumer behavior, and the importance of keeping always updated by customer needs.
Most companies analyze population growth and age structure. In addition, companies are giving high attention to consumer attitudes and lifestyle changes. These researches can help in avoiding popular marketing strategy mistakes and find new ideas for increasing sales.
Here is a list of the social factors that influence consumer behavior
- life style
- Buying habits
- education level
- Religion and beliefs
- Health awareness
- Gender (Male / Female)
- Average income level
- Social classes
- Family size and structure
- Systems of dealing with saving and investment field
- Systems of dealing with environmental products field
- Population growth rate
- Immigration rates
- Age distribution
- Systems of dealing with imported products and services
- Systems of dealing with work and retirement
The social aspect focuses on the various elements of society such as, family, friends, colleagues, neighbors, and media. These factors can influence consumer attitudes, opinions, and concerns.
Population changes might also directly influence consumption systems. The supply and demand for goods and services in the economic field can change as the population structure changes.
Organizations must be always able to offer products and services that suit the community’s lifestyle. If the organizations ignore the continuous study of social influences, the demand for their products and services will decrease significantly.
