What are 10 statistic variables that affect spending money on clothing and accessories?

Expert Solution

The statistic variables that affect spending money on clothing and accessories are as follows:

Brand: Some persons want only branded products.

Price: When the price is low for the products then the demand is increased.

Budget: When there are changes in the budget as when there is more saving then can spend more on clothing and accessories and vice versa.

Sales or Discounts: The sale or discounts automatically increases the demand for the products.

Special Occasions: On special occasions, the demand for clothing and accessories increases.

Level of wages: If the person starts earning more then his shopping expenses increase and if the level of wages decreases then shopping expenses decreases.

Vacations: When person goes on vacation then the money spent on clothing and accessories increases.

Age Factor: The older people spend less on clothing and accessories while the younger generation spends more on the same.

Need for Uniqueness: As everyone wants to be up to date so the need for uniqueness will affect the demand for clothing and accessories.

Interest: Some people like to shop for there interest this will lead to increase in spending money on clothing and accessories.

orchestra answered 1 year ago

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