Examples of Consumer Vulnerability:
Consumer vulnerability can be a temporary state that has emotional impact on people during different periods of time. It can cause long term effect as well. The key factors that are the triggers of vulnerability are not intrinsic factors to the consumer but are external factors. It may be triggered by events or actions such as job loss, bereavement, disability incidents, or becoming a carer. Vulnerability is usually known to be multi-dimensional. For example carers are likely to be on low incomes and more at risk of poor health; similarly many people with mental health issues are likely to be on a low income. In general, a sudden change in circumstances or may be an unexpected fall in income can make people face greater risk and vulnerability.
In reality, consumers do not experience vulnerability automatically whenever they are in a transient state. For instance, everyone undergoing a divorce need not experience grief. People become vulnerable when and because there is a risk that someone or something may cause them harm when they are in that particular state.
In case of an individual consumer’s vulnerability, a good example can be age. Older people are typically described to be at a disadvantage. In many conditions this may be true. However, during some instances like having the time to
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