Lifestyle Influence On Consumer Behaviour

The term Lifestyle denotes a typical way of life of an individual, a group, or a culture. It is used casually to point out differences in the way people live. Life style of an individual can be used as a significant variable for analyzing consumer behavior.
Desired life style determines consumer’s choice and the choice is a reflection of the life style. The income of an individual and the price of goods at a given time influence the life style of a person. The lower budget families for that matter live a simple life by meeting the basic requirements within the available means and to a great extent rely on public transportation and depend on free community facilities for its recreation. On the other hand, the life styles for the higher budget

These inputs will facilitate retail organizations and the policy makers in drawing a road map for furthering the development of retail sector in Goa.

Objectives of the study
The primary objective of the study is to analyse the changing lifestyle and its influence on buying behaviour in Goa. However the specific objectives are as under:
1. To construct a model for classifying consumers based on buying behaviour and their life styles and to validate the same by using CFA.
2. To analyse the influence of demographic correlates on buying behaviour and their life style.
Hypothesis of the study
In order to study the above said research objectives, the following hypothesis are formulated and tested by applying appropriate statistical tools.
Hypothesis 1: People differ in their buying behaviour & lifestyle hence can be grouped into segments.
Hypothesis 2: The buying behaviour and lifestyle of people differ across demographics.
Research Methodology
In order to study the above research objectives the following research methodology is adopted.
Universe
The universe for the present study shall be the state of

With regards to occupation of the respondents, it is seen that respondents involved in service showed a planned buying behaviour, those engaged in business showed an active buying behaviour, homemakers showed a mixed i.e. active as well as variety seeking behaviour. While others i.e. daily wage workers and others showed empathetic buying behaviour.
5. Across different Income groups, it is seen that, respondents in the income group less than 1 lakh and 1 to 2 lakhs showed a planned buying behaviour however they also scored high on empathetic buying behaviour. People in the income group 2-4 lakhs showed an active as well as Variety Seeking buying behaviour. In case of respondents in the age group 4-6 lakhs showed an enthusiastic buying behaviour while, people with income above 6 Lakhs showed active as well as variety seeking behaviour.
6. The Two Way ANOVA results reveal that there is a significant difference with regards to buying behaviour across different demographic segments as shown in Table 5 where df is 19, F is 1.97 and P Value 0.017328 which < 0.05. Further it is also seen that there is significant difference across different buying behaviour across respondents since df is 5 F is 8.15 and P Value < 0.001.
INFERENCE: All the above findings and the Two Way ANOVA results, supports the H2 that the buying behaviour and lifestyle of people differ across demographics in Goa.