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The truth about consumer buying patterns is most purchases are treated as lowest cost commodity, unless the buyer is aware or the price threshold is high enough

The truth about consumer buying patterns is most purchases are treated as lowest cost commodity, unless the buyer is aware or the price threshold is high enough[0]. When you don't have subliminal[1] and limited selection pressure (both of which exist in brick and mortar stores), coupled with a UI that makes it pretty easy to discover other brands, and coalesced signals (reviews placement etc), lowest price wins. [0]: Put another way, if its expensive, it gets more scrutiny by the average consumer (whatever their definition for expensive is). The other circumstance is if they care about the category or are in the slice of shoppers who do quality research, which is less common than you might think, until the cost factor kicks in, usually. [1]: This is brand awareness, and other related verticals. Effectively, this is what brand and mass marketing is about.

roughly 3y ago
There’s a pretty strong “market for lemons” effect going on almost economy-wide in which every manufacturer out there seems to be sprinting to make the lowest quality shit they can sneak past the regulatory bodies, so it’s not surprising consumers are selecting solely based on price because there’s functionally no other differentiator at this point.
grvdrm 3y ago
> The truth about consumer buying patterns is most purchases are treated as lowest cost commodity, unless the buyer is aware or the price threshold is high enough[0] Well said. Also, let's not forget time. I've spent countless hours researching many things I intended to buy only to give up partway down the road. It's in part because of the endless results on Amazon (referenced here) but also elsewhere. Let's say, for example, I'm trying to find the best saute pan. Amazon gives me thousands of results, but so does Google. My search results are littered with tons of X-best SEO-optimizing websites that don't help narrow down choices. So, in that situation, it's less about the price and more about the time: I'll just buy whatever seems reasonably rated and not outrageously expensive and move on. I really enjoyed the earlier days of the Wirecutter - tell me the thing to buy in my search category even if it's not the cheapest or most commoditized.

roughly 3y ago

There’s a pretty strong “market for lemons” effect going on almost economy-wide in which every manufacturer out there seems to be sprinting to make the lowest quality shit they can sneak past the regulatory bodies, so it’s not surprising consumers are selecting solely based on price because there’s functionally no other differentiator at this point.

grvdrm 3y ago

> The truth about consumer buying patterns is most purchases are treated as lowest cost commodity, unless the buyer is aware or the price threshold is high enough[0] Well said. Also, let's not forget time. I've spent countless hours researching many things I intended to buy only to give up partway down the road. It's in part because of the endless results on Amazon (referenced here) but also elsewhere. Let's say, for example, I'm trying to find the best saute pan. Amazon gives me thousands of results, but so does Google. My search results are littered with tons of X-best SEO-optimizing websites that don't help narrow down choices. So, in that situation, it's less about the price and more about the time: I'll just buy whatever seems reasonably rated and not outrageously expensive and move on. I really enjoyed the earlier days of the Wirecutter - tell me the thing to buy in my search category even if it's not the cheapest or most commoditized.