AN ANALYSIS OF LITERATURE REVIEW OF CONSUMPTION PATTERN OF DURABLE GOODS IN RURAL INDIA

Abstract

Consumption pattern denotes the regular behaviour and trends that individuals or groups display in their selection and utilisation of goods and services. These behaviours are shaped by a multitude of factors including cultural norms, economic conditions, personal preferences, and technological advancements. Grasping these patterns is vital for businesses and policy makers to forecast market demands, customize products and services, and devise effective economic strategies. This literature review delves into existing research on consumer behaviour concerning durable goods, emphasizing the factors that influence purchase decisions in rural areas. It identifies key determinants such as product attributes, social influences, cultural contexts, and economic conditions that shape consumer choices. The review also underscores the cyclical nature of durable goods consumption, highlighting its sensitivity to economic fluctuations. By synthesizing findings from various studies, the paper offers a comprehensive understanding of the dynamics affecting durable goods consumption and proposes directions for future research in this field.