Shopper Decision-Making in the Age of Perfect Information

Webinar In-store Communication Retail design

In this 45min webinar attendees will learn what cutting-edge ethnographers are learning about navigation, selection, and choice in-store and online.

Time

Place

Online

Pricing

Free

“If only one person were perfectly informed, there could never be a general crisis. But the only perfectly-informed person is God, and he does not play the stock market.” 
― Robert Skidelsky, Keynes: The Return of the Master

In economics, perfect information is a situation in which an agent has all the relevant information with which to make a decision.

Shopper’ decision-making is faster, better informed, and less constrained than ever. 
We try on shoes in-store to find what we like, and then buy that brand and size online, more cheaply. We search online for reviews of brick and mortar stores, services, and restaurants.
We search for what we want, and are influenced by what others bought instead. We order shelf-stable and homecare products online but pay more for freshness at Whole Foods. 

Are we truly in the world of perfect information? Cognitive Science research says, “not really.” Leading experimental economists are proving that we frequently diverge from the rational path in decision-making, to include shopping. 

But are online and retail shoppers truly different? 

Eye tracking analyses are telling us about surprising similarities – and some important differences – in how we navigate and select what we want online and on the shelf.

Objective:

Attendees will learn what cutting-edge ethnographers are learning about navigation, deselection, and choice in-store and online. This presentation will describe the compelling risks for retailers of certain susceptible product categories and what differentiates competitive retailers. 

About the speaker:

John Traynor is the vice president of Tobii Pro Insight Research Services in North America. John brings three decades of research experience into shopper decision making with Information Resources, Nielsen, Kantar, In Vivo BVA and ThinWorld Marketing.   

Register here!