A consumer is an individual who purchases goods or services for personal use.

Primary Implication

A potential customer is a consumer who consumes what you do.  Until they purchase from you, all a consumer represents is a potential customer.

The profitability of your business is started with a consumer electing to purchase from you.  Their transition from potential to paying customer is the cornerstone of your success.

Until people buy what you offer, you have no business.

Overview

A person who purchases goods and services for personal use or ownership rather than for resale or use in production and manufacturing is a consumer.  Without sufficient consumer demand, business owners lack any reason to put their capital at risk to produce their products or deliver their services.  I.e., without consumers to sell to, a business has no reason to exist.

A person converts from being a consumer to a customer when they elect to purchase from you.  If a potential consumer passes on buying from you, it means they are either choosing to consume from another business or they are choosing not to consume by going without what you offered them.

The number of potential consumers informs on the market potential for a business but is of no financial value to any business until they decide to become your customer.  When a consumer elects to transfer their money to you for your product or service, they become a customer contributing to your Net Sales.  How well your business converts that sell into profits shapes your cash flow and, ultimately, your Net Income.