Conclusion

This study has presented a set of data regarding the consumer behavior on buying clothes. It includes the responses of 10 respondents between the age of 17 and 25 from the survey conducted in Taylor’s University Lakeside Campus.

In this survey, the concerns are the factors and elasticity responses of the demand on clothing. From the data obtained, the highest demand factor is the preferences of consumers. As the fashion has become a trend nowadays, people are concerned on the style of wearing, colour and also material of clothes so that they can keep up with the fashion trend and this causes the quantity demanded to increase. On the other hand, the lowest demand factor is the brand of the clothes. It is because students are not working and so they have limitation on expenses. When it comes to decision making on buying clothes, they will have to consider the brand of clothes to buy as they have limited purchasing power. Thus, the brand is not the main factor that affects the demand on clothes. (McConnell, C. et al, 2012)

Additionally, for the elasticity response, buyers are sensitive towards the price changes of clothes causing the demand to be elastic whereas for the level of income, the demand for it is inelastic as buyers have more purchasing power to buy more clothes. Thus, they are not sensitive towards the price changes of the clothes. Besides that, the availability of substitutes gives an elastic demand on clothing. It is because the more substitutes a product have; the more competitive it is as buyers will compare the product with other similar products to make the final decision of which to buy. (McConnell, C. et al, 2012)

There are a few suggestions to be made while doing this assignment. First, the number of respondents should be increased, so that more data can be collected and analyzed more accurately. Furthermore, the information of clothes should be given in a more detailed way by doing further research on clothing so that the readers can understand and gain more knowledge on the responses of clothing towards the environment changes.

These findings will benefit students who are doing studies on the demand of local products and also firms to identify the demand of factors of their products.