Understanding How Consumers Make Buying Decisions

Understanding How Consumers Make Buying Decisions

Published by Global Display Solution on April 22, 2022, 11:08 am

Don’t underestimate the consumer buying process. We’re all consumers at some point in our day, and we go through a subconscious buying process every time we shop. Get more information on this buying process and gain a better understanding of how consumers make buying decisions. Then, utilize this information for your own business.

The Consumer Decision Process

There are five main stages to the consumer decision process, which many people unconsciously experience while shopping. These five stages include:

  1. Problem or need recognition: The consumer evaluates their problems or needs and thinks about which types of products can meet these needs or solve these problems.
  2. Information search: The consumer searches for internal or external information concerning the specific products or services they’re considering.
  3. Evaluation of alternatives: A consumer will evaluate all their product options and weigh them against each other. They consider which product or service will be able to best meet their needs or solve their problems.
  4. Purchase: The purchase step involves the consumer acting on their intention to purchase the most suitable product for their needs.
  5. Post-purchase behavior: A customer’s post-purchase behavior involves how the consumer feels about their purchase. Post-purchase behavior may lead a customer to leave a review on a product, experience buyer’s remorse, etc.

What Can We Learn From the Decision Process?

As retailers, we can glean lots of valuable insight from the customer decision-making process. For example, this process reinforces how important it is to help your business stand out from competitors. After all, the consumer decision process contains a whole step dedicated to evaluating options and every product or business alternative. This also reinforces how useful positive reviews can be for your business. Obtaining credible reviews can help sway a consumer toward your products during the information search and evaluation stages.

How To Channel the Consumer Decision Process in Marketing

There are some unique ways to accommodate the consumer decision-making process into your business’s marketing strategies. For example, to distinguish your business from your competitors, you can pay special attention to your store displays and promotional materials. You can keep your signage readable and fresh to attract as much attention to your storefront as possible. You might also consider collecting customer contact information to send them emails or push notifications encouraging them to leave a review after their purchases. This can help you gain more positive reviews and further tweak your customer experience process.

Now that you’ve read this post on understanding how consumers make buying decisions, you can use this information to improve your business. If you’re looking for ways to help your storefront stand out from the competition, check out our selection of marketing materials here at The Global Display Solutions. Spruce up your retail signage with retail display sign holders and more.