Question

How would customers entering the store vary from the lower income customer versus the higher income customer?

Answer 1

Customers with lower incomes are more price-sensitive and let price increases affect their purchasing decisions, while customers with higher incomes are less affected by price increases.

Step-by-step explanation:

The behavior of customers entering a store can vary depending on their income levels. Generally, lower income customers are more price-sensitive and tend to be more affected by price increases. They are more likely to base their purchasing decisions on affordability. On the other hand, higher income customers are less price-sensitive and are less affected by price increases. They are willing to pay more for the products they want.