Key Factors Affecting Consumer and Financial Decisions

• CUSTOMER SERVICE - Customer service affects consumer and financial decisions because pre sales and after sale services make you feel valued and customers will keep buying from the store because they feel comfortable 
• PRICE - The price can affect your decisions because if the price of a good is too much, you will not buy it. Consumers will most likely want the best value so they will buy the cheaper items.
• CONVENIENCE - Convenience can also affect consumers’ decisions because they want it to be quick and easy to buy things. Places where online delivery is available will most likely have more customers since it is easier to bring home.
• MARKETING  & ADVERTISING

  This plays an extremely important role because consumers are influenced into thinking they need this product when it is advertised on billboards, commercials, or on the radio.
• GENDER - A person’s gender influences some type of purchase because female consumers typically spend more on cosmetics than males. The Influence of gender on consumer decisions is best shown by products advertised in catalogs for Mother’s Day and Father’s Day: mum gets the iron and dad gets the cordless drill.
• AGE  - Children usually want toys and teenagers want mobile phones. When you are an adult, you want a car. Later on, a house or holiday. Our wants change as we grow older.
• DISPOSABLE INCOME - Disposable income is the amount of money households have available for spending and saving after being taxed. A buyer with higher disposable income will spend more on luxury/lifestyle items, vacations, or more expensive items.
• ENVIRONMENTAL CONSIDERATIONS - Consumers are being more aware of the problems caused by plastic bags and bottles. They are more influenced to purchase reusable packaging or products with minimal waste.
• SOCIAL MEDIA - Social Media are platforms that allow users to create and share content with others. Social influences promote products in a pleasant way, influencing their followers' purchasing decisions.
• CULTURAL FACTORS - What an individual learns from their parents and relatives and a child becomes their culture and they are most likely to continue that culture.