Consumer Psychology: what is it and how does it study purchasing patterns?

From companies and businesses, we are constantly exposed to stimulation that seeks to activate our consumption needs. It is important to be aware of these strategies to guide our behavior in the best possible way, avoiding deception or impulses. In our society, consumption is the order of the day.

Whether it's the weekly grocery shopping or spending an entire morning looking for new clothes, we all shop and consume at some point. Each consumer has characteristics and preferences, which are what influence him in a certain way to decide what to buy. Businesses and companies seek to understand these factors, and for this purpose, consumption or consumer psychology is used.

Consumer psychology helps companies to know what the public towards which their products are directed seeks, wants and needs. Thus, they know the ways to persuade them to get their consumption. It is not easy to predict other people's thoughts and feelings, but through qualities and behaviors externalized, the psychology of consumption makes a more concrete analysis of the phenomena associated with the purchase. In this article we are going to learn more about what consumer psychology is and how we carry out carry out certain buying patterns that help businesses to develop techniques to maximize their sales.

• We recommend you read: "Addiction to consumption and the purchase of products: 6 key characteristics"

What is consumer psychology?

The psychology of consumption or consumer focuses on the study of human behavior, prioritizing those that represent the way of being as buyers of certain products or services.. It analyzes the preferences, purchasing patterns and consumption habits of the people studied. It is also related to the reactions and tastes around the messages and announcements developed by advertising.

Any company or business that seeks growth must analyze the behavior of its consumers in order to properly promote its products or services. This helps to develop messages or campaigns more focused on your target audience, in addition to giving value to customer opinions and demands.

Consumer psychology is a very useful way to customize marketing strategies and tools according to the customer profiles, but this should not be understood as something magical or as a form of manipulation or deception for people. Misusing the information obtained about consumers is unethical and positions brands and companies as having the wrong messages. Customers will always figure out when companies don't give them what they really want and want..

What are buying patterns?

Buyers or consumers are not in the same mindset as marketers or sellers. Even buyers tend not to all think in the same way. Each consumer has their own purchasing patterns, which help guide their behavior when choosing certain types of consumption.

Purchasing patterns refer to the set of reasons and ways that influence consumer purchasing decision making.. They constitute habits and routines established through the products and services that are purchased. These are defined by the frequency, time and quantity of purchases, among other things. Some of the factors that determine purchasing patterns are:

1. Personal aspects

The intrinsic qualities of consumers have a direct effect on the way of consumption. Among them, we can find the age or lifestyle of people as one of the main personal factors to take into account. There is talk of age as the most relevant factor, since the points of view of consumers mature and are modulated with age; Items or services are purchased that are in accordance with the stage of the life cycle in which people are. Age is also closely related to the economic situation of each person; Normally, the older, the greater the purchasing power.

2. Culture

Every cultural tradition has an influence on the buying process. The codes or set of beliefs of any kind influence the way and the process by which consumer decisions are made. Cultures reflect the customs of a social group, which entails direct social influences.

3. external influences

In relation to culture, consumer decisions are strongly influenced by other people and their opinions. We constantly receive stimulation from our environment, which often comes in the form of social influence. The opinion of a friend or a person who has previously consumed the same thing that interests us greatly guides our consumption decision. A clear example of this is to consult the opinions on social networks of any restaurant or place that we are going to go to.

4. Leisure and hobbies

Logically, consumer decisions are directly related to the interests and activities carried out by consumers.. For this reason, brands or companies must establish the profiles of their buyers to know how to direct their advertising campaigns or strategies in a personalized way.

5. Prices

Prices are a key determinant of buying patterns. We know how to differentiate, according to our purchasing power, those products that are cheap or expensive for us, and also, based on experience, we know when it is appropriate to consume one or the other. That is, we know when and why it is logical to "indulge" and when, on the contrary, we are wasting our money. Companies know the ways in which price influences a decision, so they play with it through discounts, rebates or offers that can change our perceptions of them.

6. Needs

One factor in purchasing patterns is whether or not a product is a necessity. When what we need to consume are necessity products, the value of the price adjusts to it and we guide our decisions to the extent that this consumption can satisfy the need that has developed.

7. Holidays or celebrations

It is very important to consider that purchasing patterns are highly modified and influenced by festive seasons or special days and celebrations. A clear example is Christmas. A study carried out at Christmas 2022 suggests that Spanish households planned to spend an average of 634 euros. December is the month in which most purchases are made of the entire year, followed by November, mostly influenced by Black Friday or Cyber ​​Monday. In addition, it is not necessary to take into account only the festive or sales stages, but, for example, the fact of buying a gift for a special person. Being a specific occasion, it is normal not to think so much about the price but to focus on something that would make this person excited.

How can buying patterns be predicted?

As we have seen, there are many factors that influence consumer buying behaviors and patterns. Each person has different purchasing patterns depending on whether they are buying food, clothing, or a special gift. For this reason, in order to predict purchases and their patterns, businesses establish different categories of consumer behavior, which help to predict how they will consume.

1. routine shopping

These are, for example, weekly food purchases, or a monthly subscription to the gym. This consumption behavior commonly occurs for low-cost and frequently purchased products. Little time is spent searching for information and making decisions because consumers already assume the purchase decision as something typical and routine.

2. Limited purchases for decision making

These purchases are those that are made of goods or products purchased regularly and that are not considered expensive. A moderate effort is made to search for information and in most cases, this information is to look for a change of brands or address. For example, a limited purchase decision making might be the purchase of clothing or shoes based on the need for new outerwear.

3. Extensive purchases for decision making

Contrary to the previous ones, these purchases are aimed at more unknown and expensive products, which are purchased infrequently. In them, consumers seek more information about the products and direct their decision in a more complex way.. An extensive purchase could be the purchase of a car or a house; have a major effect on the lives of consumers.

4. impulse purchases

These purchases are the ones that are most linked to marketing strategies and to appear pleasing to consumers. It is the purchase of something that we had no intention of consuming, but that, at the moment of consuming something else, we have ended up falling into this consumption as well. For example, buying a box of gum at the cash register.

Be aware to avoid being manipulated

In conclusion, consumer psychology serves companies and businesses to maximize their sales and productivity., but we can also make use of it as consumers, in some way, to be more aware of sales strategies and avoid being deceived or overinfluenced. From here we recommend giving all the time that is necessary to the decision-making process, considering the pros and cons of a consumption and the way in which it satisfies our needs; always with responsible consumption and seeking sustainability.