Consumer Attractions & Addictions 2012 - How They Affect Their Shopping Motivations and How Knowing Them Can Help You Thrive
||International Council of Shopping Centers
||Mar 19, 2012
Presentation at the 2012 Western Canada Business Forum in Kananaskis, AB.
Join me on a journey into the consumer’s mind to understand what motivates them to behave the way they do.
As a psychologist, most of my approach to retail and business best practices starts with a deep understanding of what makes people do what they do and then advise businesses how to capitalize on it. Take instant gratification, for instance. A need many people have to get what they want as quickly as possible. A human behavior that Amazon.com understood very well when they launched Amazon Prime a few short years ago. And, of course, this simple understanding of the way many people are “wired” made them billions and made it harder for other businesses to sell to consumers unless they were able to match Amazon’s performance (why would you want to order from anybody else when you can get what you want in two days from Amazon for free?).
Or, human’s enjoyment of simple play as another example of a human characteristic that has been around throughout history, across many cultures and around the world. Consumers enjoy and engage with games because they are fun and entertaining and satisfy a basic need for reward, status, achievement, self-expression, competition and altruism, among others. That is where companies like Swoopo, QuiBids, To Vie For and other online auction sites got their idea of offering consumers (“playsumers”) what is called “entertainment shopping” – part gambling, part bargain hunting. Got the idea of this session? Yes, it is going to be a fascinating eye-opener and a powerful look into the mind and heart of the consumer to inspire you to come up with products and services that go right into what matters most to them. Remember, shopping is only 5 percent rational. The rest of it is all emotion – catering to those emotions is what can help you win big.
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