Kit Yarrow is a consumer Psychologist and she studies how people buy products and how they spend their money as well as how consumers change the way they are spending and why they change.
Kit tells us that when consumers spend dollars on food for example they have many choices to make but the interesting part is that there are hundreds of reasons and feelings that go into making those decisions, many of the reasons or factors that change or effect choices are subliminal and we can’t even see or tough those factors. The factors that we can see are sometimes subliminal “tricks” as well, for instance Kit shared with us that the use of the color red aids in helping people make decisions and marketers are using this information to help push their products.
Consumers are changing and the reasons they make decisions is changing too, today the largest group of consumers willing to spend the most money is the millenials. Millenials seem to put a larger emphasis on quality eating experiences and the producers of that food having a positive expierence too. Yarrow states that “fear and trust” drive consumers and their purchases. While millenials don’t seem to trust many people, they most defiantly are less trusting than previous generations. The studies show that millenials do however trust farmers, and want to trust farmers too. This is the best news that farmers can possibly hear however, we need to continue to show our consumers and teach them about production. To this day consumers are still concerned about animal welfare, as they want farmers to be “loving” and animals to have the best lives possible.
Learn more by listening to Bryant and consumer psychologist Kit Yarrow’s Interview