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Price is just one of the prime factors.

Price obviously is a very important factor when it comes to product demand because it gives the consumer a second thought if the product is worth its price and also could make one think it is very efficient if not it will not be placed at such price. But the truth is that there other important economic factors that play a role in such decision making

there are employment, wages, price/inflation, interest rates and consumer confidence.

  Employment & wages; The level of wages also affects consumer spending. If wages are steadily rising, consumers generally have more discretionary income to spend. if the wages are falling, demand for optional consumer goods are also likely to reduce. therefore, median income is one of the best indicators of the condition of wages for american workers. Price and Interests rates; Price affected by the rate of inflation naturally impact consumer spending on goods significantly. Higher inflation rate erode purchasing power, making it less likely that consumers has excess income to spend after covering basic expenses such as food and housing. Interest rate also impact the level of spending on consumer goods substantially. many higher end consumer good such as automobile, jewelry are often purchased by consumers on credit. Higher interest rates generally mean tighter as well as making it difficult for consumers to obtain the necessary financing for major purchases such as new cars. So consumers often postpone expensive items until more favorable credit terms are available. Consumer confidence; It also affects the demand for consumer goods. Regardless of their current financial situation, consumers are more likely to purchase greater amounts of consumer goods when they feel confident about the overall condition of the economy and about their personal financial future. High levels of consumer confidence can especially affect consumer inclination to make major purchases and use credit to make purchases. Therefore an economy showing overall growth and continuing prospects for steady growth is usually accompanied by corresponding growth in the demand for goods and services.

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Answer 1

Some more factors:

1) Tastes and Preferences:

Consumer preferences change over time and can be seasonal like the demand for gloves and sweaters increasing in the winter. Many consumers are now opting for eco-friendly products in large numbers, which was not the case some 10-20 years back.

2) Taxes:

Taxes on income, property and other goods and services also play a role in determining consumer demand. If there is a tax cut incoming, consumers expect their future spending to increase.

3) Prices of complementary and substitute goods:

These prices also play a key part in shifting the demand curves of the consumers. More substitutes means lesser demand and vice versa. More complementary goods mean more demand and vice versa.