In today’s data-soaked environment, brands are massively underestimating the human element that drives purchase decisions, concludes a new study by The Kearney Consumer Institute (KCI).
“Brands have more data than ever about consumer demographics, behavior, spending and opinions,” notes Katie Thomas, a lead researcher at KCI, the internal think-tank of global consultancy Kearney. “But we still often categorize consumer behavior as ‘unpredictable.’ To understand why, our research found three key consumer tensions that help explain this behavior.”
Those three “friction points” are:
Options vs. overload: Consumers seem to expect a product that suits each type of skin, diet, or fitness need. Yet, in many major categories, most consumers believe there’s already plenty to choose from—if not too much.
Curation vs. control: Two out of three consumers say they like making all their decisions themselves. But it’s logical that consumers want (and need) some level of curation to make sense of all their options.
Facts vs. feelings: Consumers want to “do their own research” (and they trust themselves more than they trust brands and institutions), but have limited reserves of time, energy, and motivation.
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“Here, we see the push–pull between consumers and brands,” Thomas says. “Sometimes brands should lead consumers forward; but sometimes, the better choice is following consumer behavior. The key is understanding the complex nuanced, and sometimes unexpected tensions that will crop up next.”
Click here for the full KCI report.
