Field Experiments Reveal True Consumer Behavior; Surveys Flawed as 95% of Decisions Are Subconscious
📈 Harvard's Gerald Zaltman found 95% of purchase decisions are subconscious, highlighting a gap between consumer surveys and actual behavior. PwC's 2024 survey claims consumers would pay a 9.7% premium for sustainable goods, yet fast fashion brands like Shein ($52 billion GMV in 2024) and Temu ($100 billion target for 2025) thrive. Economist John List advocates for field experiments to reveal true consumer actions, influencing Walmart's strategies. 🏢 Companies should prioritize behavioral observations over self-reported data.
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