Kelly Goldsmith is a behavioral scientist who examines consumers’ responses to uncertainty and scarcity, uncovering and explaining seemingly paradoxical effects. She works to demonstrate that resource scarcity can increase consumers’ interest in sustainable products, because scarcity presents a constraint to goal achievement, which can trigger abstract thinking. Kelly is an Associate Professor of Marketing at Vanderbilt University.
In this episode she discusses with Americus and Barbara the notion of depletion as we try to sustain major lifestyle changes throughout this pandemic. The idea that when you take consumers and give them any reason or justification to not exert self control and do the hard thing, boom! they latch onto it. The Coronavirus has disrupted our lives in just about every way possible and when so much is uprooted and no longer in our control, we seek to regain that control in any way possible. The panic buying that has resulted from the strong perception of scarcity, the impulse buying to compensate for that scarcity, and the compensatory behaviors we're all experiencing as we try to navigate this new normal.
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