A consumer is a person or group who purchases goods or services primarily for personal, social, family, household, or similar needs, rather than for business or commercial purposes
. Consumers use or "consume" these products or services, making them the final users in the economic chain
. The term is often used interchangeably with "customer," but a customer may not always be a consumer if they buy goods for resale or business use
. Consumers play a crucial role in the economy by driving demand, which motivates producers to create goods and services
. Legally, consumers are typically protected by consumer protection laws because they often have less bargaining power compared to businesses
. Consumer rights usually include the right to safety, to be informed, to choose, to seek redress, and to be represented
. In summary:
- A consumer buys and uses goods or services for personal or household use.
- They are the final users in the economic system.
- They are distinct from businesses or commercial buyers.
- Consumer protection laws exist to safeguard their interests.
- Consumers influence production and marketing through their preferences and behavior.
This definition applies broadly in economics, law, and marketing contexts