Question

Religion and its impact on consumers/examples and theory

Answer 1

Religion influences the consumer behavior in many ways. People's demand and consumption behavior gets influenced by the ways the religious groups have set for them. Different people belonging to different religions spend their money buying goods according to their culture and religion on different occasions. People of different religion spends differently on various other things like entertainment, clothing, and many other things. All of this influences their choice of goods and their behavior of spending. For example, people belonging to Islamic religion spend their money on purchasing new clothes for their families on Id-ul-Fitr.

Similarly, Christian people celebrate Christmas by spending on purchasing Christmas trees and by giving gifts to their families and friends. Consumer behavior also affects the demand in the market. Companies have to produce different goods on different occasions. All of these factors affect consumer behavior in their spending based on their lifestyle.