Decoding the New Consumer Mind - Kantar · Decoding the New Consumer Mind TNS Growth Through...
Transcript of Decoding the New Consumer Mind - Kantar · Decoding the New Consumer Mind TNS Growth Through...
Decoding the New Consumer Mind
TNS Growth Through Consumer Insight SummitHelsinki 22.11.2013
Kit Yarrow, Ph.D.Consumer Psychologist, Professor, Author
kityarrow.com
How and Why We Shop and Buy
Kit Yarrow Phd
Key Slides:
#1 Technology
#3 IncreasedEmotionality
#2 Individualism1. Think Differently2. Symbolic Communication
3. Belief in Innovation 1. Empowerment2. Self Reliance
3. Yearning for Belonging
1. Wary and Guarded2. Option Overload
3. Conscious Consumption
Part 1: Socio-Cultural Shifts Behind The New Consumer Mind
#1 Technology
It’s not what we’re doing with it, it’s
what it’s doing to us
IWWIWWIWI
Impatience Anxiety InertiaExasperation
AnticipatedNeeds
Immediate Solutions Authority Inspiration
I want what I want when I want it
2013 Communication: Symbolism, Stories, Images, Experiences, Associations
#2 Individualism
#3 IncreasedEmotionality
SafetyControlPredictability
Money + Time + Support = Resources
Fewer Resources = More Stress
More Stress = More Emotionality in Decision Making
Kit’s Consumer Decision Equation
The “emotionally overloaded” shopper
Inertia
Complexity
Rationalization
Trusted Advisors & CuratorsIN
IN
IN“Gut” IN
OUT
Bargains are about more than money:
Pare DownChoices
Rationalize
ValueAssurance
NotMissing
Out
Part 2: Six Recommended Strategic Shifts
1. Involve Them2. Ramp it Up3. Get Real
4. Go Visual over Verbal5. De-Silo
6. “Technovate”
1. Involve Them With the 4 C’s
ChampionsCustomization, Co-Creation
Crowdsourcing, CrowdfundingContests
2. Ramp it Up to Get Noticed and Inspire Action
+ MarketingBreak Through Intensity
Faster & More Responsive
3. Get Real
Honor Your WordBe Transparent
Showcase HumanityAvoid Corporate-Speak
4. Emphasize Visuals over Verbals
Consider the “Rub-Off ”Be Ubiquitous
Replace Words with SymbolsBe Intuitively Understood
5. De-Silo (Omni-Channel)
Don’t Compete - IntegrateLearn and Leverage from Both Worlds
6. Technovate
Innovate to Stay RelevantIncorporate Technology Everywhere
Refresh Messages & Offerings More Frequently