Factors Affecting Spending Behavior of Young Adults | PPT

Factors affecting
Spending
Behavior of Young
Adults
Name of the Student
Name of the University
Author Note

Introduction
 The buying behavior of consumers is a subject of great
interest among international business researchers
because this is seen to vary from customer to customer.
 Buying behavior is seldom known to remain static and
how it manifests is something that depends greatly on the
type and category of the target audience that a specific
business is seen to cater to (Dunn and Norton 2014).
 When customers take the decision to spend their money
on a purchase, they usually tend to think long and hard
before they actually go ahead and buy what they want, so
that they do not end up regretting what it is that they buy
(Dunn and Norton 2014)

Introduction (contd...)
 This assignment engages in an investigation of the factors that
are seen to influence the spending behavior of people who are
in their youth, and whose idea of financial planning is quite poor.
 . In order to gain a thorough understanding of the topic, the
main objectives or aims of the study are drawn up, a number of
key research questions are raised, an in-depth review of
literature is undertaken, the research methods are properly
detailed and outlined and the findings of the study are discussed
and analyzed.
 The study then concludes with a number of important and useful
recommendations that the youth of today ought to take into
consideration if they want to make wiser and useful choices with
regard to their purchases and if they wish to plan their finances
well enough.

Review of Literature
 According to Xiao, Chen and Chen (2014), changing values of the consumers
has been influencing the buying behavior of the consumers. Today, young
consumers undertake an ‘age-defying’ attitude to the consumers.
 The purchasing power of the young people has increased which have
influenced spending among them. They have a greater autonomy,
concerning their buying decisions and purchasing behavior.
 As per the opinion of Taft et al. (2013), in today’s scenario, the young
consumers develop brand loyalty and conscious at a younger age. This trend
has expanded the consumer base. According to Xiao, Chen and Chen (2014),
they mainly focus on values and aspirations. Additionally, it has been stated
by Pappas (2016), that the changing family values and changes in family
structures have also influenced spending behavior among the consumers.
 According to Kim and Chatterjee (2013), the young people prefer living along
for studies and other reasons. These trends spade the spending behavior of
the consumers. Since they live alone, they prefer manufactured or packaged
food items as per the needs and requirements of the consumers.