- We have so many decisions to make every day that we cannot weigh them all up in a fully considered manner. If we did, we would never get out of the house. As Daniel Kahneman puts it: “Thinking is to humans as swimming is to cats. We can do it but we’d rather not”.
- People are reluctant to change because of a deep-seated desire for consistency with their past selves. But when we undergo a life-changing event*, we step away from our past selves and habits, forcing us to make new decisions in our day-to-day lives.
- Recent research found that the likelihood of trying a new brand was 2.5 times higher among people who had experienced a significant life event, compared to those who hadn’t (21% vs 8%, respectively).
*think marriage, moving house or a global pandemic for example
The recent pandemic has radically disrupted the environment we interact with. Brands have a huge opportunity to jump in as consumers will be acting more “irrationally” than ever. While this might be bad news for some, it will lead to a brand-new playing field, where brands who offer the strongest value proposition can achieve greater competitive advantage than usual.
Link to the full article
Better input always leads to greater outcomes
Subscribe to OUTThink, the AFFINITY ThoughtReport.
16th October 2020
15th October 2020
30th September 2020
22nd September 2020
14th September 2020
11th September 2020