From Neanderthal trading to the ancient Greek Agoras, retail has been a part of our life from the dawn of civilization. Today, the modernization of shopping has only evolved.
“Shopper behavior is something that is passed from parent to child. Humans make approximately 35,000 decisions a day, and we have developed shortcuts to help reduce this mental load. These help us jump to a decision without having to think too much about it.” Breaking down the psychological process of thinking and decision-making, Pope brings licensing into the equation when it comes to making that purchase decision at shelf, or online, for both kids and adults.
Gary explains how 432 hours a year in supermarkets and 834 hours every year browsing to buy online means kids model their behavior on a generation of active consumers. Expanding to note that from the very first trip to the shops, children are engaged in the process of learning, figuring out how to model themselves of their role models, before joining their parents at the shop to request items for themselves.
“The system one thinking of our brain will drive attention towards familiar things. This is one reason why the use of characters in HFSS product advertising has been banned,” he said.
Gary then explains the remaining stages of a child’s journey to become a considered shopper.
Noting how the licensing industry brings a ray of sunshine to people's lives, how parents are driven by happy moments together and keeping kids smiling and how across Europe, parenting is becoming tougher with each generation, he said, “Families are both time poor and time pressured, and with the shift of all things Zoom, work life balance is in further turmoil.”
As technology continues to blur the boundaries between work and home life and hours worked are on the increase, parenting today is intensive. Pope goes on to build on how the mindset of the parent looks like today, and the one universal problem all parents face, the number of decisions they have to make on a daily basis and how licensing can bring joy through characters, ease the decision-making process and bring families together.
Decision-making continues to evolve with pandemics, technology and more. The CEO of Kids Industries uncovers how nimble tech is rising in place of brick-and-mortars and how digital brand experiences are bringing people together. With toys, streaming, gaming and consoles, as well as big increases in construction and puzzles, certain areas prospered while others fell. Pope uncovers which products are facing larger demand, and which aren’t, as well as how digital platforms are the new hub of collaboration.
Stepping out to the high street, Pope wraps up the docu-vlog series by illustrating what has changed, if anything, and how it all comes together under the banner of Darwinian Capitalism, and how retail needs to evolve quickly, and the science behind that shift.
Not only fueled by scientific analysis and a long history in the kids, brand and consumer space, the Kids Industries docu-vlog series is an all-encompassing set of short videos that outline the current market, the mindset of modern kids and the future of retail.