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By Anastasia Lloyd-Wallis Chief Operating Officer and Head of Consumer Insights, Retail Doctor Group Do you know about the rational consumer? I bet you do! We grew up believing that the human being is a rational agent who makes decisions based on logic, objectivity,...

By Anastasia Lloyd-Wallis Chief Operating Officer and Head of Consumer Insights, Retail Doctor Group There’s no denying that the last few years have been challenging - for retailers, brands, and consumers alike. Despite a resurgence of Covid-19 variants, the worldwide...

By Anastasia Lloyd-Wallis Chief Operating Officer and Head of Consumer Insights, Retail Doctor Group Consumers want to be sustainable and ethical about what they’re buying, it’s a hygiene factor now when they interact with brands and retailers. However their needs and...

By Anastasia Lloyd-Wallis Chief Operating Officer and Head of Consumer Insights, Retail Doctor Group Customer Engagement: Pre-, During-, and Post-Purchase The Australian consumers’ needs are changing. Pessimism is on the rise. Though not yet alarming, pessimism is...

Consumer and retailer sentiment are two of the most important factors affecting the bottom line for retailers. However, the relationship between the two is rather complex. Consumer sentiment measures consumers’ confidence about the economy and their own financial situation, while retailer sentiment measures how confident retailers are about the future of their business.

Consumer and retailer sentiment are two of the most important factors affecting the bottom line for retailers. However, the relationship between the two is rather complex. Consumer sentiment measures consumers’ confidence about the economy and their own financial situation, while retailer sentiment measures how confident retailers are about the future of their business.

In today’s economic climate, consumers are more price-conscious than ever before. However, even when looking for a good deal, customers are still driven by emotions. In fact, studies have shown that 95% of consumer decision-making is based on emotions. 

The reality of the forced acceleration brought on by COVID is that people actually chose to be less social in person, but more present in a digital environment.
The progress of digital and online and constant availability via technology was never anticipated… not by retail, corner stores, businesses, or schools. Before COVID, none of these places needed to worry about having a website.

Customers today, especially tech-savvy ones, rely heavily on online research, reviews, and comparison sites to make informed decisions. Brands need to simplify their offerings, provide omni-channel engagement options, and leverage emotional connections to build trust and loyalty with their customers in this digital age.