Learn more about Consumer Behavioural Insights during Covid-19 period
Hello from Asia Insight! We hope that everything is well with you and your business.
We’ve observed interesting changes in interesting consumer behaviours that we would like to share with you.
Empathy Gap is a cognitive bias in which people underestimate the influences of visceral drives on their own attitudes, preferences, and behaviors.
What have we observed?
Learn how luxury brands like Prada, COS and Louis Vuitton are retooling in response to shortage of masks.
Prada, COS and Louis Vuitton are among the leading fashion brands that are retooling to manufacture surgical face masks in response to the shortage caused by Covid-19.
Yves Saint Laurent and Balenciaga have begun production of cotton face masks. Other brands including COS, Zara and Mango have also committed to making the surgical masks, while luxury conglomerate LVMH (Moet Hennessy Louis Vuitton) has promised to donate millions of masks and medical-grade respirators to replenish dwindling supplies.
What does it mean to marketers?
By responding to their potential customers’ needs and also being conscious of this empathy gap can help drive better sales conversion for the brands.
https://www.dezeen.com/2020/03/27/fashion-brands-make-face-masks-coronavirus/
Affect Heuristics Bias is a mental shortcut that allows people to make decisions and solve problem quickly and efficiently, in which current emotion, fear, pressure, surprise, etc.- influences decisions.
What have we observed?
“Right now, we are all walking around with this heightened state of mortality salience and that creates a sense of existential anxiety. While the effects are harder to predict, it does tend to make people more likely to spend in ways that support their core values and support their self-esteem or to spend in ways that they feel says something important about who they are.”
“Because of this virus, people have heightened mortality salience, which refers to reminding people of their own mortality,” Erica Carranza, vice president of consumer psychology at market research firm Chadwick Martin Bailey (CMB) says.
What does it mean to marketers?
Moving forward, people may start to make choices that are based on their underlying sense of identity.
For example, people may be more likely to choose environmentally-conscious brands in the future, a trend that we already see in the culture. And it may predispose them to indulge in more luxury purchases as significant to their self-esteem.
Good news! YOU CAN CONTINUE TO CONDUCT RESEARCH with us to gather the insights that you need. Our team continues to work remotely with clients and are gathering insights digitally and with the help of technology.
We would be pleased to organize Web-Enabled methodologies such as In-depth Interviews, Focus Groups and Online Communities for you, without compromising on qualitative insights.
What things are possible online?
- Understanding how people currently use a product or services
- Validating a product that is in production / prototype
- Mapping behaviour longitudinally (Diary studies / Cultural probes)
- Observing behaviours and interactions without interfering
- Devising and building with the team ( Remote workshop / Co-creation)
- Run online surveys
Drop us an email at contact_us@asiainsight.com or call +65 6735 3788.
In the meantime, stay safe and healthy!
