In: Economics
How and why does climate affect purchasing/decision making factors? What are some examples of this?
Climate affect the purchasing / decision making as it greatly influenced the purchasing behaviour of the consumer.for eg- ice cream and cold drinks selling in summers or coffees in winters and umbrellas in rainy season...all these eg shows that demand and decision all are taken as per the climatic condirions .practically, climate affect consumer purchase decision.whatever we purchase its decision is influenced by the climate in which we are living.
Weather affects consumers on 3 levels
1● purchase method- it is influenced by weather as if it is humid ,people prefer online,which is a gain for online retailer.
2● climate affect mood- the biometric pressure fluctuates mood.the studies shows that snowfall,air pressure humidity has a great impact on purchasing as it ectends spending.
3● climate affects product demand.
The product demand can be easily predicted by the producers beforehand by keeping a check on weather conditions for eg if its predicted to rise in temperature the demand for cold drinks and coollers or ac is tend to rise wherss if temperature falls sale of soups and lip care leads to be increased.
Decision making is greatly influenced by climate as the decisions related to buying toyota ,houses or holiday bookings are done keeping in mind the climate.
Thus,we can say the demand for product and its decision is greatly influenced by climatic conditions.