How Technology Influences Buyer Behaviour

We might be a little biased about using technology to become more efficient in the workplace, but this month we are taking a look at the use of technology in other areas of life. An article by Richard Nicholls (https://www.bbc.co.uk/news/business-21057431) explores how technology has changed buyer behaviour; the way we shop and the way business is done – the buyer is now in control.

“Technology has of course been a huge driver, as tools emerge that allow consumers to see their electricity expenditure, compare prices, track their health and home energy use – and make the best decisions (or even automate the decision making process) based on this information.” Said Richard.

It seems that as consumers, we are using technology in three ways to remain in control and benefit from the best deals.

First of all, we use technology to make the best decisions with our money. So much information is available online about products and services including price comparison sites, product reviews, and recommendations, it is easy to gain a lot of information prior to purchase which allows us to make a highly informed decision about where we spend our money.

Secondly, we are using technology to become more efficient during the information search process. Websites and apps now suggest the best choice for us. We therefore trust a machine to do our decision making for us!

Thirdly, technology allows us to track almost every aspect of our lives, from our personal finances to electricity usage and calorie consumption. Having this information so easily available puts us very much in control of everything we do and we can now use technology to learn, gather new information and become even more efficient in all areas of our lives.

With the above in progress, it is easy to lead an efficient life and stay in control of our purchase decisions.