According to Gerzema, what are some of the changes that consumers are making when it comes to spending money or buying an item? What has caused these changes to take place?

Question

Chaim Alvarez

Business

21 August, 04:05

According to Gerzema, what are some of the changes that consumers are making when it comes to spending money or buying an item? What has caused these changes to take place?

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Answers (1)

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Jordan Bridges · Answer 1

Gerzema explains in his book about the changed consumer behavior post the economic crisis. According to him, consumers have become more empowered and enlightened. This means that people are spending their money on products responsibly and with much awareness. Savings have drastically gone up and people buy and trade local produce instead of jumping into corporate supermarkets.

Explanation:

They have started to buy sensibly rather than for fashion or status.

Consumers look to buy from companies and brands that have absolute transparency and are socially responsible.

The economic crisis has kicked-in a sense of awakening in the minds of people enabling them to forego purchase for pride or societal status.