Switching cost refers to the expenses, both monetary and non-monetary, that a consumer incurs when they decide to change from one product or service to another. These costs can include the price of the new product or service, as well as the time and effort required to learn how to use it. Additionally, switching costs can also include the loss of familiarity and comfort with the previous product or service, as well as any potential disruption to established routines. In essence, switching costs act as a barrier to prevent consumers from easily switching to a competitor’s product or service. Companies often try to minimize switching costs for their customers in order to retain their loyalty and prevent them from seeking alternatives.