Consumer behaviour

We are moving still, as in the tech is moving.

But the consumer behavior hasn't changed.

The consumer behavior is still, I'll use a large language model to do discovery.

I will maybe kind of pick between different products.

But at the end of the day, I will still click on, okay, I want this product from Amazon.

I'm watching from my side and I'm reading some of the things that, that you know you've been writing about um they're playing both sides and it's almost like a a switchboard if you will um trying to see you know connecting the players and trying to see where the future will go um they'll definitely be on one of the key um key players if you will as the space continue to evolve now i do want to ask you if from your perspective um One is there are a lot of people having a lot of opinions and a lot of things.

What is the one thing or what are some of the things that you think that people are probably missing the mark or perhaps getting it wrong and we should be focusing on X instead of Y? I

mean, I think it's consumer behavior because I think everyone is making the assumption that everyone's looking at the technology and seeing the value of the technology.

So does that matter? What does this growth in private label products mean for you as a shopper? And what does it mean for the Australian businesses vying for a spot on the shelf? You're about to hear more, but tell me about your shopping habits.

Are you buying purely on price? Does it matter to you who makes the products you put in your trolley? Send me a text or And here to chat about it is Gary Mortimer, Professor of Marketing and Consumer Behaviour at Queensland University of Technology.

Before his academic career, he had a retail career working for the likes of Big W, Meijer and Coles.

Gary, welcome back to Life Matters.

Interesting.

Gary, Sally, thank you both so much for chatting with me.

Gary Mortimer, Professor of Marketing and Consumer Behaviour at Queensland University of Technology.

Sally Jones, co-founder of Gippsland Jersey.

Maybe it's a combination of clever marketing.

I think it's actually, in reality, a variety of factors that influence consumer behavior.

But ultimately, we make a decision that, you know what, even though this thing doesn't make any economic sense, I'm going to save up and I'm going to buy it anyway.

The most extreme example of this we see actually in a different country in South Korea.

Um, but really paying attention to profitability.

Given you studied psychology, were you also in tune with consumer psychology? Was that also informing how you go about this launch? Yeah.

Um, I'm forever in tune with, uh, consumer psychology because I think at the end of the day, people buy, you know, there's the, the needs hierarchy, right? But there, there's a certain point where, like, your needs are met.

You know what I mean? Mm.

Like, you got a roof over your head, you got food on your table, you got water, you got air, you know, you got some clothes on your back.

Um, and so I think, you know, we've, we've got the needs, right?

Mm-hmm.

The, the hierarchy of, you know, consumer psychology.