Power resides in the consumer(1 min read)

Whenever the economy is discussed, the “consumer” invariably comes up. The consumers drive the economy.

They buy goods and services. Consumption is the largest component of any economies GDP. Individual buying acts are aggregated over whtime and space.

Any good business is created with the consumer in mind. As a business you sell what you ‘perceive’ consumers need or will buy.

Consumer patterns tend to shift, sometimes fast, sometimes slow. Existing businesses shift to align with these changes. New businesses (aka startups) emerge to capture these emerging trends.

It is imperative that every business invest its energy in studying their consumer. And where possible talk to their consumers and understanding the consumer needs.

Your business is as large as the number of consumers that you can attract and get them to pay for your product or service.