223. Consumer Behavior- Starbucks + Disney

It’s easy to think that if your sales are down, it must be because people aren’t spending money. But if you look around, the evidence tells a different story. From long lines at Starbucks to packed Disney parks, it’s clear that people are still opening their wallets. The key isn’t that they’re spending less, it’s that they’re spending differently. Consumers are focusing more on emotional fulfillment than ever before.

 

In this episode, Kristen talks to listeners about the current state of consumer spending and behavior. She explores how people are spending money not out of necessity, but for emotional satisfaction. Kristen will guide you through understanding why consumers are prioritizing emotional fulfillment in their purchases and how you can use these insights to tailor your marketing strategies. 

Let’s look at a few highlights:

• People are looking for products and experiences that provide a dopamine boost. Their purchasing habits are driven by a quick emotional high. 
• Kristen challenges you to analyze your own spending habits over the past month. What did you buy that made you feel good? This self-reflection can provide insights into broader consumer behavior.
• People aren’t just buying things out of necessity anymore. They’re splurging on stuff that makes them feel good.   
• Many people would rather find ways to earn more money than cut back on their spending. 
• To grab your potential customer’s attention, make sure your product or service hits them on an emotional level. Show how it can bring them joy or solve a problem.

So, despite what you might hear, people are still spending money, but they’re doing it in a way that focuses on how it makes them feel. By understanding these emotional drivers and aligning your marketing strategies accordingly, you can better connect with your audience and see your sales reflect the true state of consumer spending.

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