Just
thinking out loud
You might
think it is cognitive reasoning that determines what people buy. But an article
in Inside Retail this week suggests it is not the consumer’s conscious mind
that determines what they buy, it is the part of the brain which controls
emotions.
That part of
the brain, called the Limbic System, works much quicker than the cognitive
reasoning part and often makes a decision before we are fully aware of it.
Could that
explain why consumer confidence is so important to the level of retail sales?
When times are really tough, when consumer confidence is really low, when the news out there is all bad, do those
conditions inhibit emotional responses, and therefore inhibit buying?
Here is a
link to the full article - https://www.insideretail.com.au/news/the-limbic-system-the-cognitive-mind-and-the-user-illusion-that-misleads-201910#daily