Consumer demand is a term that refers to the amount of goods and services that people want to buy within a given market. This phrase is often interchangeable with similar concepts such as customer demand, market demand, and consumer desire. Other synonyms for consumer demand may include popular demand, buying trends, purchasing power, customer preference, and market appetite. Understanding consumer demand is an important aspect of business strategy and can help companies identify which products and services will be successful in the market, as well as predict future trends and stay ahead of the competition.