Luxury Items Famous Brands Local Brands in the Light of Terror

From a behavioral perspective, we see a completely different picture. We indicate that we live healthier, but it turns out that over the entire year 2020 we have downed 14% more glasses of alcohol . We indicate that we are focusing more on meaningful products, but within the overall declining car sales, we actually saw an increase in relative demand for luxury cars last year. In short, we don’t do what we say and we don’t say what we do. Also read: This is how HelloFresh subconsciously tempts you to subscribe Our behavior cannot be explained rationally. How then? Party with confetti. 1. Consumer behavior after corona: the rebound effect We find it difficult to break free from our current mindset when we reflect on past and future situations. Psychologists call this the projection bias . This means that during the lockdown period we mainly view the future from those glasses, without thinking about the fact that our mindset is also fluid. If you look at actual behavior, you see almost an entirely reverse effect occurring: a social rebound effect. What we lack now, we will want back to a greater extent.

Famous Brands Local Brands in the Light of Terror

We saw the rebound effect in the Roaring Twenties , a period of frenzied freedom, consumption and cultural expression that took place after the austere period surrounding the First World War. It looks very likely that we can also look forward to a rough 1920s in the 21st century. In the context of consumer behavior this means a complete rediscovery of everything that was ‘just not possible’. I foresee golden Nursing Homes Email List years for activities, leisure , holidays and, last but not least, physical retail. What we lack now, we will want back to a greater extent. 2. Product preference and corona Bad events appear to have a predictable impact on our product preferences. Whether it’s a personal loss of a loved one, or major global tragedies like 9/11; the subsequent patterns of consumer behavior are very similar.

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Brands Local Brands in the Light of Terror

Rationally, you would expect this mindset to make us a little more cautious or healthier, but the opposite is true. On the one hand, this effect explains the increasingly polarized opinions that are marring the public debate in the light of the corona crisis. On the other hand, it affects – in a more innocent way – our product preferences. Psychological studies (van Pommel et al., 2015) show that awareness of mortality increases our attraction to 3 specific product types: Luxury items Famous brands Local brands In the light of Terror Management Theory, it is therefore not surprising that the luxury car segment performed relatively surprisingly well during the lockdown. Products, categories and brands that have a symbolic value appease the mortality mindset. 3.

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