How Does the Bandwagon Effect Impact Consumer Behavior?
Consumers often look to the behavior of others to guide their own decisions. When a product or service becomes popular, more people are likely to purchase it simply because they perceive it as being socially accepted or trendy. This can lead to a rapid increase in sales and market share. The bandwagon effect is particularly powerful in industries like fashion, technology, and entertainment, where trends and public opinion play a critical role.