Consumer Markets Definition

A consumer market is a market in which individuals or households purchase goods and services for personal consumption. The term ‘consumer’ can refer to both final consumers, who are the end users of products and services, and intermediate consumers, who re-sell or re-use goods and services.

There are four key characteristics of consumer markets:

1. They are composed of buyers and sellers.

2. Buyers exchange money for goods or services.

3. Goods or services are purchased for personal consumption.

4. Transactions occur in a market setting.