Why Do Customers Buy Products? 7 Basic Reasons

It would be ideal if you took the time to learn about the factors that drive your consumers’ behavior.

It is critical to have a deep understanding of your consumers in order to develop high-quality products and advertise them successfully. Our grasp of what influences people’s decisions to purchase or not to purchase our products needs to be extensive.

With that in mind, how do your products help improve someone’s life? 

This question sounds so lofty and magnanimous. But the truth is purchases do provide changes, and hands down, we want that change to be positive.

Another way of studying this puzzle is how your product diminishes pain or enhances pleasure.

Thinking about why customers buy products based on helping alleviate pain or increase happiness is the foundation of many other drivers. Buyers are triggered mainly by seven underlying factors when purchasing a new product.

Our motives include both necessity and convenience along with security, FOMO, identity and belonging, price, peer recommendations, obligation, fear, price, and happiness.

The reality is that each of these factors can fit into the pleasure or discomfort camps. Products either produce happiness or address our pain. Because of this, it is easier to understand why people buy products.

This article will talk about the various reasons people buy stuff and end with a real example of how one ecommerce startup enlisted the help of some clever influencers.

Top Reasons Why Customers Buy Products

Why do customers buy particular things has never been more vital to business success.

According to Salesforce,

🗨️ 76% of consumers expect companies to understand their needs and expectations.

The following are the seven personal and sometimes subconscious motivations for making a purchase. We explore why do customers buy products, as well as the underlying reasons for doing so.

1️⃣ People Buy Products Out of Necessity

The most fundamental reason we buy things is because we need them. Arguably this is the most obvious rationale for making a purchasing decision. We buy items needed for daily living, like food, clothing, and shelter-related products.

Let’s go back to that psychology class for a second. Remember Abraham Maslow and his hierarchy of needs?

The hierarchy of needs established by Abraham Maslow describes human motivation. His theory states that people must first satisfy their fundamental needs to advance higher in the social, emotional, and self-actualization needs hierarchy.

How many times do students say, “Why do I need to learn this? Am I ever going to use it in real life?”

Well, in this case, the response is — absolutely!  This section in your science or psychology class is extremely useful. In fact, we would explanation that you need to learn it “because it will help you every day of your professional life!”

Asking what needs someone has can make every encounter with a prospect, a customer, a patient, a partnership, or anybody else far more relevant and productive. Because Maslow’s needs hierarchy truly makes it easier to answer the question: why do customers buy products?

Needs…the Heavy Hitters of Motivation

Ever wonder where your products hang out on that famous needs pyramid? Are they chilling at the bottom with the essentials like food and a roof over your head, or are they living it up in the swanky status and freedom levels?

Typically, necessities fit in the lower need levels. We all need the basics – water, food, somewhere to crash, and clothes on our back. But let’s be honest, we’re a bit more complicated than that. People find ways to turn all sorts of things into must-haves.

Start by figuring out the fundamental needs of your target audience. Next, determine how your product or service may meet those needs. How does it fit into their day-to-day? Or take a look at what’s bugging them. Got a fix for their headaches? That’s your golden ticket.

Trust me, every product or service you’re selling is answering some SOS call from your target customers.

Benefits of Understanding Needs

Asking about needs or annoyances isn’t just small talk – it turns every chat with a potential buyer into something much more meaningful and relevant.

The better you match what you’re selling with what people are craving or trying to fix, the more you’ll hit the bullseye with the right folks.

Many other elements of the business, from marketing to customer service, becomes much more smooth when you know where your stuff fits in their world.

When you pinpoint the match between what you’re selling and what your audience needs, you’re not just selling – you’re solving. And this is where the magic happens.

2️⃣ Convenience 

An undeniable driving force behind customer purchases is the quest for convenience. Anything to decrease hassles and simplify day-to-day life!

Many of us are suckers for products that promise to make life a bit easier. Quicker, simpler, or cheaper – that’s the magic trio. Sure, a kitchen gadget that slashes cooking time or an app that smooths out our day can be a game-changer.

But here’s the kicker: sometimes, we’re even okay with paying a bit more for that extra convenience. It’s like, “Take my money if it means I can save some time or headaches!” 😆 It’s the world we live in – where a few saved minutes feel like striking gold.

Businesses get this. They’re out there turning the everyday ho-hum into something awesome, fitting right into our ‘I want it easy’ lifestyle. And honestly, who doesn’t love that?

3️⃣ Security and Protection

Customers purchase products to protect themselves and to provide security.

A lot of it’s about playing it safe. You know, that whole ‘better safe than sorry’ vibe. It’s like Maslow was onto something with his safety needs on that famous needs pyramid.

Take insurance, for instance. Health, car, home, life, even for our pets – we’ve got it all covered. Why? Because it’s all about that peace of mind. We’re cushioning ourselves from life’s ‘oops’ moments. It’s like building a safety net with our wallets.

These buys are our shields against the what-ifs of life. We’re dodging future headaches and keeping our stuff (and ourselves) out of harm’s way. It’s our way of saying, “Hey uncertainty, check this out, I’m ready for you!” 🛡️

So, next time you’re signing up for that extra insurance or buying something for safety, remember, it’s not just a purchase – it’s your personal fortress in this wild, unpredictable world.

4️⃣ FOMO (Fear Of Missing Out)

Ever feel like you just HAVE to have the latest thing because TikTok Made Me Buy It? Welcome to the club of FOMO – Fear of Missing Out. And it’s as real as your last TikTok scroll. That feeling of being left out when everyone’s raving about something new? Yeah, not the best.

So many of us shop just to keep up with the Kardashians. It’s all about grabbing those shiny new things that everyone else seems to be enjoying. Skip out, and you’re left in the dust – and who wants that? FOMO’s got a sneaky way of pushing us to hit that ‘buy’ button.

And it’s not just about impulse buys. Most everyone feels the pull to stay on trend in some area. When a new craze hits, we’re all over it, buying stuff just to feel part of the gang. Showing off our latest haul keeps the FOMO wheel spinning.

Brands, take note: if you’re targeting those born between 1981 and 1996, you’re in FOMO territory. Millennials? They’re practically the poster kids for FOMO. It’s a big deal for 69% of them. When FOMO strikes, they’re quick to act. In fact, when millennials are hit with a case of FOMO, they react quickly.

🗨️ Within 24 hours, 60% of millennials make a purchase to soothe their burden of missing out.
OptionMonster

So there you have it. FOMO isn’t just an acronym. The emotional experience is a powerful driver, especially in the millennial market. Keep it in mind next time you wonder why that latest trend just flew off the shelves.