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I think that behavior is few and far between because asymmetrical information flow doesn't exist in the same way it did 2 decades ago. Especially as older peopl
by rjyoungling 7y ago
I think that behavior is few and far between because asymmetrical information flow doesn't exist in the same way it did 2 decades ago. Especially as older people are dying and younger ones are replacing them, they naturally google everything. So when you're using sleazy sales tactics, you'll burn your reputation.
(You don't even see it as much in the tourist restaurant business anymore because of things like Tripadvisor.)
We already know from things like Yelp, Airbnb, Uber, eBay etc. that a minor drop (say 4 stars vs. 5 stars) translates into a huge drop off in clientele.
In a world where every Uber driver has 5 stars, having 4.5 practically means you're a maniac in the eyes of the consumer.
(Not entirely unjustified since 5 stars means 'average' for most people, and not 'outstanding'. So to give less than that is actually quite a hurdle for most people.)
- agumonkey 7y agoyoung users won't google that young users will react to ads, feel they should spend money to feel they got something of value, get in the store on "super hot deal day" to get conned (like their parents were the first time?) I'm exaggerating a bit, some cultures put a lot of pressure on being financially responsible. But for the rest I saw what I described with my eyes.
- rjyoungling 7y agoI don't have evidence to back this up, but anecdotally it does seem to me that younger people (Millenials) tend to use google to compare/look for reviews when it comes to purchases that fall outside of the impulse buy category.
- agumonkey 7y agowell maybe my entourage is too keen on impulse buy (plausible)
- rjyoungling 7y agoIt's certainly likely we're both victims of selection bias here.