Customer behavior refers to the actions and decision-making processes of individuals or groups in relation to purchasing products or services. It encompasses the study of how consumers select, purchase, use, and dispose of goods and services, as well as the factors that influence these behaviors, such as cultural, social, personal, and psychological elements. Understanding customer behavior helps businesses tailor marketing strategies, improve customer experience, and enhance product offerings to meet the needs and preferences of consumers. It involves analyzing patterns in consumer choices, motivations, attitudes, and post-purchase evaluations to build effective strategies for engagement and retention.
Transforming payment data into a strategic goldmine for businesses. In the quest for increasing sales and acquiring new customers, many companies primarily focus on advertising and attracting clients. However, one…