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Destination NSW CMO, News.com.au Editor and Australian psychologist unpack the macro trends driving consumer behaviour
The cost-of-living might be grabbing the headlines but according to panellists at the latest Australian Marketing Institute (AMI) and ThinkNewsBrands Marketing Perspectives Series event, it’s uncertainty and anxiety that’s driving the way consumers behave and make decisions. The bad news is it can send consumers into echo chambers in an attempt to find connection. The good news is it can also drive us to pragmatic action and the desire for authentic, genuine engagement.
Anxiety index
There’s a “frisson of anxiety” pervading consumer sentiment. It’s leading many to seek out ways to control their immediate environment, prioritise authentic connection and experiences, and become more action-oriented, panellists at the latest Australian Marketing Institute (AMI) and ThinkNewsBrands Marketing Perspectives Series event believe.
Participating in the wide-ranging Sydney panel discussion were and Australian Psychological Society former president, Amanda Gordon AM, News.com.au editor, Kerry Warren and Destination NSW GM of consumer marketing, Kathryn Illy. The panel was moderated by ThinkNewsBrands CEO, Vanessa Lyons.
While the cost-of-living has dominated mainstream headlines, the macro trend Gordon sees as having most significance on behaviour, sentiment and decision making is living with uncertainty.
“The ground is shifting for a lot of people. It really started with Covid and has continued since then, and it’s this frisson of anxiety,” she told attendees. “We can’t predict the world the way we used to anymore. People have not been brought up to be comfortable with uncertainty, yet the world is now an uncertain place.
“It’s about how do we tolerate uncertainty, and if we’re not certain, how do we make good decisions?”
The risk here is a fixation on negativity and echo chambers being the preferred place to be, Gordon warned – something social media and algorithms have much to answer for, panellists agreed.
