Radiant Insights: Nudging, Brand Trust and Netflix

Nudge, How Subtle Influences Can Shift Motivations and Change Behavior. 

When it comes to marketing or forming strategies in economics that shift how people do things we usually see the goal of direct incentives—rules or penalties that are supposed to get folks to do the right thing, make the right choices. In the New York Times best-selling book Nudge by Nobel Prize-winning economist Richard Thaler, he asserts that by simple things, such as incentivizing specific small changes or making choices easy you can “nudge” people to what’s ultimately in their best interest without them feeling pressured to do anything. Small incentives can dramatically affect choice by making it simple to choose. While sludge can make it so arduous and difficult that you avoid choosing and give up. 

“One way to nudge people to do something is to make it easy to do. Sludge is like its sinister opposite: when institutions try to prevent people from doing something by making it hard to do.” 

Building Brand Trust in a Time When No One Trusts Anything. 

A new study from KPMG shows a radical shift of consumer trust in brands over the COVID -19 pandemic. Having an enormous impact on how companies, consumer categories and individual brands can earn back the sense of confidence in specific brands. Varying from grocery stores to tourism, major categories have suffered because of the perception of safety and reliability. 

Supermarkets, Netflix, and Alcohol, the Big Winners in the Covid Crisis. 

We all know that Covid-19, working from home and concerns for safety have radically changed consumer and business behavior in the last 18 months. The big winners may be no surprise to many people: supermarkets, Netflix and liquor stores did phenomenally well with major increases in sales and subscription levels. Perhaps this complete shift in lifestyle really shows what really matters when you’re not obligated to go into the office every day. Will these trends remain or change as workplaces open again? 

“Perhaps this shows that working from home is more about eating, drinking and binge watching Game of Thrones” .