2025 has turned out to be quite an eventful year. Since the first second of January, we have witnessed several political and economic events that have many people’s nerves on edge. The certainties that we have enjoyed since the end of the 20th century and the beginning of the present seem to be diluted in the face of a period of conflict that is hard to accept, even though there are parallels in other similar periods in the not so distant past. Consumers have not remained impassive in the face of this panorama.
When the security provided by a steady job with a regular salary, a predictable macroeconomic environment and with guarantees that forecasts will be met with little uncertainty, people tend to be more frugal with their purchasing decisions. However, in recent weeks we have experienced a roller coaster of emotions that make for at least one headache. For this reason, this week we address four actions that people take when they perceive more doubt than usual.
Immobility. It should be noted that not all consumers tend to exhibit all of the actions described in this blog post and not all of them are captured in this writing. When there is a crisis, there are a multitude of responses to unforeseen threats. Among the most commonly observed among a segment of the population is simple inaction. This response has many explanations and depends very much on the life history of each individual. One of the explanations most often described at this point refers to the lack of a prior response plan. Another one is a spontaneous blockage resulting from reminiscences of reflexes in the wild. In any case, if one knows how to conduct this process, an active effect can be obtained for both parties.
Rationalization. A reality that many older people recognize when experiencing this convulsive environment is that this is neither the first nor the last crisis we will face. History tends to be cyclical and there are patterns that are evident to those in the know and can be seen today. Based on this valuable experience, many consumers begin to make choices that will give them the best conditions in case the forecasts come true. Among the most common actions is to multiply the reasons that justify the purchase of a product or service. It is also possible to pay more attention to the quality of what is purchased and to privilege quality over emotion and quantity.
Collection. In literature we find fragments of popular wisdom that are transmitted from generation to generation, given the value they have in ensuring the survival of Humanity. One of the best known fables is that of The Cicada and the Ant. This story tells how a cicada chooses to enjoy rest in times of plenty. At the same time, the ant, knowing that these times are temporary and that there will inevitably come times of scarcity, dedicates itself to gathering seeds to survive the winter. When the cold weather arrives and the plants dry up, the cicada learns the lesson of hard work and of gathering resources for times of scarcity. This principle is replicated by many people and has its most obvious example in the massive purchase of toilet paper at critical moments such as the beginning of the COVID-19 pandemic.
Denial. Conversely, another possible reaction to perceived dark clouds on the horizon is to simply pretend that nothing is happening and continue life as usual. In extreme cases, erratic and irrational behavior can be observed in which consumers may spend more on luxury items with the justification that frugality must be enjoyed as long as it lasts before suffering from a pauperized market. On the other hand, there is a segment of the population that can ignore major crises because they have sufficient resources to afford the price increases. However, this is a topic that is worth approaching with great caution.
Recent events may have prompted you to change your consumption patterns along some of the lines described above. If you feel identified, rest assured that you are not the only one. These behaviors are shared by very similar segments and it is worthwhile to delve deeper into each juncture. Even if you have findings on the subject from previous hostile times, we recommend that you update these studies because each scenario has particularities that otherwise will make you design inaccurate plans. At the end of the day, every crisis is an opportunity to stand out among consumers and gain market share if you play the available cards strategically.
At Acertiva we have a team of analysts and strategic suppliers that will allow you to find out these and more data and information that will take your brand to the next level. Thanks to our more than two decades of experience in the Market Research sector in LATAM, we can be one of your best strategic allies in our region. If you are working on a project in this area, please contact us to request your free fifteen-minute consultancy. We will get back to you with how together we can make your next success story a reality.
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