In this episode, Food & Drink Business editor, Kim Berry, talks to Jed Simpfendorfer and Dr Ro Mueller from market research firm, Tgarage, about what Australian consumers are thinking and how that impacts food and beverage businesses.
The discussion explores Tgarage’s most recent insights into consumer behaviours and the tension point between trying to reduce spending but still wanting moments of joy and ways to connect. Jed and Ro breakdown the unfolding shift from spending on entertainment and going out, to the premiumisation of supermarket goods and entertaining at home. Jed discusses the idea of nostalgia and how at times of trying to reduce spending, consumers will avoid buying new items and instead return to the familiar, even products from their childhood.
The episode ends with a discussion on how humans have firmly shown that, when faced with making a decision using rational logic or emotional engagement, the emotional will always drive the purchase.
LINKS:
Sponsored by CommBank
Tgarage: tgarage.com.au
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Food & Drink Business delivers in-depth news and editorial coverage of Australia’s food and beverage manufacturing sector. The Food & Drink Business podcast is one part of our multi-media platform, which also includes a daily newsletter, weekly video news bulletin, and bi-monthly print magazine. Tune in for entertaining and informative interviews from industry leaders, change drivers and experts across all aspects of the country’s leading manufacturing sector.
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MC: Grant McHerron
Host: Kim Berry
Producer: Steve Visscher
Food & Drink Business - © 2024
