Are consumers rational? Matt Newell, founder and executive strategy director of The General Store doesn’t think so. Instead, he says, consumers are rationalisers – which is to say that they make emotional decisions immediately and then try to justify their behaviour.
Newell, who has worked with the likes of Super Retail Group, Hungry Jacks and Shoes of Prey, believes this necessitates a re-think in how retailers approach consumer decision making.
We talk about why the Apple’s of the world manage to get people to queue for four days and four nights for a slightly different iPhone, while longer standing retail brands struggle to “stay hip”.
You can listen to the podcast below: