Consumer behavior refers to the study of how individuals make decisions to spend their resources, such as time, money, and effort, on consumption-related activities. It encompasses the processes that consumers undergo in seeking, purchasing, using, and disposing of products and services. This field examines the motivations, preferences, influences, and behaviors that shape consumer choices, including psychological, social, and cultural factors. Understanding consumer behavior helps businesses tailor their marketing strategies, product development, and customer service to better meet the needs and desires of their target audience.
In the realm of retail, Macy’s recent announcement of a downward revision in its full-year sales forecast signals a shifting landscape characterized by discerning shoppers and intensified promotional efforts. While the company managed to surpass earnings estimates, a disparity emerged as it fell short on revenue expectations. Revising its projected net sales to range between […]
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