Infographic: Household Purchasing Models
As diverse as households characteristics are, so are their monthly requirements. More often than not, set budget items may determine what gets included on regular shopping lists. Moreover, purchasing models adopted by households may depend on the nature of goods - from groceries to durable household equipments - within consideration. Members of middle-income and upper income classes tend to have greater outlays required to make bulk purchases, thereby escaping vagaries of price fluctuations for fast-moving consumer goods. On the lower rung of the income ladder, members of a low-income class, who may be daily wage earners tend to opt for buy-as-you-go purchasing options. Sadly, many low-income households bear the brunt of rising food prices and commodity price shocks. The amount of time available for regular market visits, may also affect a household's purchasing model. Time-poor householders, who may choose to allocate limited time to other high-value or income-generating activiti