This article is about the re-use displacement effect which basically means the amount of second-hand purchases that have replenished with what would alternatively have been the purchase of a new item. The data on this article reveals that only 27 percent of consumers would have bought their item new if they could not have found it second hand. This small percentage of people indicates the importance of a second hand market. To me, personally, a second hand market is greatly essential at this time of my life. As a student, with a very limited disposable income it would be really hard to afford brand new items. I think the re-use displacement effect is progressively getting larger as companies such as e-Bay or Trademe thrive. Though they do have brand new items, I believe the majority of their items are second hand.
Consumers on auto-pilot and buy out of habit: Survey StartupSmart It found consumers are not making conscious decisions about purchasing when habit is driving behaviour.
Rohan Berry's insight:
This article was really very interesting. It is about whether brand loyalty is ‘mainly’ driven by habit or real rational reasons. BrandHook, a consumer insight group has surveyed 1000 respondents and found that 46 percent consumers drive their shopping choices and have come up with the conclusion that consumers aren’t making conscious decisions about purchasing when habit is driving behaviour. Therefore they think that there are certain stages in a consumer’s life when they are more vulnerable and open to change. Stages such as when they move house, get married, have a baby or form a new relationship. Michel Hogan, an independent brand advocate disagrees and says that she doesn’t consider inertia as loyalty and that people are not loyal to brands out of habit they are royal because of real rational reasons.
In my personal opinion, I strongly believe that in most cases brand loyalty is not based on consumer habits, but, real rational reasons instead. For example, a low income earner would chose to go for a cheaper loaf of bread simply because he or she can only afford to do so, not because it is a habit. However, I also do agree with BrandHook’s recommendation about consumers being more vulnerable and open to changes in certain stages of their lives.
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