It’s well-known that consumers often make decisions based more on emotions than on logic. This is just how our brains work—it helps us handle the many choices we face every day, from what to eat to when it’s time to upgrade our car. Of course, the price of a product matters too; sometimes, no matter how much we want something, it might not be the right time to buy it. However, when the time does come, we are likely to choose based on our experiences with the brand—from the moment we start researching to when we’re in the store picking out colors or extras.
But do emotions influence all of our decisions? For example, when choosing a pension plan or life insurance, wouldn’t it be better to approach the decision rationally? Surprisingly, the answer is no.
Imagine you’re sitting across from a pension consultant who appears professional and confident. Their conduct alone can influence your decision because you believe they know what they’re talking about, and you trust they will help you make the right choice. Daniel Kahneman, Nobel Prize in Economics, explains that while our brain’s “System-2” makes reflective, thoughtful decisions, we often let the faster, more intuitive “System-1” take over. “System-1” is based on past experiences, helping us make quick decisions. For example, if you walk into a clothing store and see an item you like, your first instinct might be to grab it without thinking too much. That’s “System-1” in action. But when you stop to think about whether you really need it or if it fits your budget, that’s when “System-2” kicks in.
Going back to the pension example, if you recall hearing about someone’s positive experience with that particular pension provider, that feeling of trust can influence your decision. Even though you may not be analysing the numbers strictly logically, your emotions play a big role in shaping your choice. Likewise, if you feel good about the office environment or the friendly staff, these emotions can become key factors in your decision-making process.
Given that emotions have such a strong influence on our choices, shouldn’t we focus on understanding them more deeply and how they affect consumer behavior? Do we truly understand why people buy what they buy? What goes through their minds when they choose one design over another? Getting to the heart of these reasons isn’t always easy. Sometimes, consumers can’t fully articulate their motivations, or they may not even be aware of their real reasons for making a purchase. Their responses might not always reflect their actual behaviour—but it’s not impossible to uncover the truth.
In my opinion, consumers should be asked questions that help them recall past experiences and challenge their reasoning behind their purchases. For example, if someone says they prefer healthy food, ask how many times they ate salad last week. This allows them to reflect on their true habits, not just what they think they do.
Finally, there should be questions that explore what Daniel Kahneman refers to as the “remembering self” and the “experiencing self,” since these two selves don’t always have the same interests.
Mind of Consumers 