Kit Yarrow

How and Why We Shop and Buy

Decoding the New Consumer Mind

Most businesspeople are well aware that marketing has changed dramatically in recent years. For many, this shift is mainly about different ways to market--through social media, online engagement, and so on. But beyond the new tools available to businesses today, there have also been sweeping changes to how consumers behave in the retail environment, and what underlies our decisions as consumers. How can marketers understand--and profit from--these shifts in how we buy? DECODING THE CONSUMER MIND provides retail marketers with an action plan based on new psychological insights about how, when and why today's radically different consumer shops and buys. A trifecta of socio-cultural trends has forever altered the psyche of the American consumer--and understanding these 3 significant shifts is critical for any marketer to understand. Based on her extensive research, consumer expert Kit Yarrow classifies the changes as follow: ANXIETY: Diagnosed anxiety disorders have increased 1,200% since 1980. A 1994 survey of randomly selected households found 15% of American had experienced elevated anxiety the previous year. In 2009 that number rose to 49.5%. This has numerous implications for how consumers buy, explaining our love of the ratings and reviews of other shoppers; the mental relief and distraction of online shopping, and why people are more responsive to brands that demonstrate emotional benefits than those who tout product characteristics. "THE NEW INDIVIDUALISM": A more "me"-oriented society increasingly uses brands, retailers, and shopping strategies as a way to connect with others. Awash with choices and unfettered by the social rules that provided guard rails in previous decades, today's consumers are more individualistic and more likely to use what they buy and how they shop as a way to communicate and bond with others. This trend explains why "Pick Your Favorite" campaigns on Facebook have an astonishing 27% response rate, why Etsy is so successful, and much more. REWIRED BRAINS: Because of our rampant technology use, we literally think differently now, a shift that has broad implications for retail. As a society that "views" more than it reads, we want everything faster, get bored more easily and gravitate more toward the quick takeaways of symbolic communication. For example, on eBay, merchandise displayed on red backgrounds receives higher bids than similar merchandise shown on blue backgrounds; and trends have given way to "trending." Grounded in Yarrow's award-winning research on consumer psychology, DECODING THE CONSUMER MIND provides rich examples of these shifts in action in the marketing strategies and consumer behavior seen by major firms and brands, many of whom are Yarrow's clients, including: Kleenex, Desigual, Kraft Foods, eBay, Hershey's, and many more. For any marketer hoping to profit from the transformed consumer brain, DECODING THE CONSUMER MIND is essential reading.

Take a glimpse into the mind of the modern consumer A decade of swift and stunning change has profoundly affected the psychology of how, when, and why we shop and buy. In Decoding the New Consumer Mind, award-winning consumer psychologist Kit Yarrow shares surprising insights about the new motivations and behaviors of shoppers, taking marketers where they need to be today: into the deeply psychological and often unconscious relationships that people have with products, retailers, marketing communications, and brands. Drawing on hundreds of consumer interviews and shop-alongs, Yarrow reveals the trends that define our transformed behavior. For example, when we shop we show greater emotionality, hunting for more intense experiences and seeking relief and distraction online. A profound sense of isolation and individualism shapes the way we express ourselves and connect with brands and retailers. Neurological research even suggests that our brains are rewired, altering what we crave, how we think, and where our attention goes. Decoding the New Consumer Mind provides marketers with practical ways to tap into this new consumer psychology, and Yarrow shows how to combine technology and innovation to enhance brand image; win love and loyalty through authenticity and integrity; put the consumer’s needs and preferences front and center; and deliver the most emotionally intense, yet uncomplicated, experience possible. Armed with Yarrow’s strategies, marketers will be able to connect more effectively with consumers—driving profit and success across the organization.

Jayne O'Donnell

Discover the forces driving the decisions of today's most sought after consumers According to recent statistics, members of Generation Y shop 25 percent to 40 percent more than the average consumer. In Gen BuY, Yarrow and O'Donnell argue that these voracious and fearless consumers have revolutionized the way Americans shop by turning traditional sales and marketing strategies upside down. Based on solid research, the book offers an in-depth look at what motivates these young people to buy certain products and reject others. The authors reveal what makes these consumers tic-how they define power, why they loath manipulation, and why they rely on technology-and show marketers how they can tap into the buying power of this burgeoning group of consumers. Shows what it takes to successfully woe and win young consumers with purchasing power Filled with surprising insights into the psyche of Gen Y buyers Written by an expert in consumer research and a well-connected media consumer author Gen Buy is a must-have resource for marketers, advertisers, retailers, and manufacturers who want to understand the new generation of consumers.

Kit Yarrow

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