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Changing consumer behaviour and creating loyalty throughout the supply chain are areas every FMCG manufacturer is trying to achieve. However, these are the last links and typically the most difficult elements to manipulate. This is due to challenges around validating sales – you can only reward loyalty if you can verify the purchase.
The Black Friday sales frenzy can trigger our deepest emotional and cognitive responses and can lead us down a path of unnecessary spending. However, consumers can use insights from behavioural economics to empower them to make decisions that align with their individual financial goals.
The impact of music on consumer behaviour is well-known with research showing that consumers shop for longer, spend more money and have an enhanced shopping experience if they’re exposed to music. Many local and international retail and restaurant brands are implementing bespoke in-store music and audio solutions to create a more fun, welcoming and brand-specific experience. There are reasons why in-store music makes sense.