Does Fear Impact Behavior?

Today marks 500 days since KSA announced its first case of covid-19. With this global crisis far from over, people have learnt to coexist with it.

What goes on in consumers’ minds during crisis? What are the biggest fears and key concerns of people of different age groups & socioeconomic backgrounds? How do they address these concerns? And most importantly, what behaviors does fear drive?

We recently commissioned a study with 3,000 Muhimma community members across KSA and UAE on how fear influences behaviors. Here is a summary of what we learnt.

Top 3 fears & concerns of Gen-X and Gen-Y.

What does that mean?

Interesting to note that all the major fears and concerns mentioned by consumers are related to physical and financial health. Mention of health concerns might sound obvious since we are in the middle of a pandemic. However, what’s noteworthy is that most of the health concerns these 2 generations have stated are not a fear of getting infected. They are instead related to consumers’ feeling insecure and vulnerable.

How are consumers addressing their fears & concerns?

Physical Health

28% have started some form of physical activity over the past 9 months.

34% have started to avoid foods or beverages they consider harmful to health.

12% of those who used to ignore health conditions have started to consult doctors regularly

Financial Health

39% said they’ve postponed capital purchases they deemed good-to-have.

28% have started to cut down on expenses to put aside cash for emergencies.

27% now prioritize items that strengthen their belief of hygiene & safety as part of their monthly purchases.

What does that mean?

The coronavirus has instilled a fear of life disruption amongst consumers. This fear is subconsciously making them opt for choices which in their opinions, strengthen their sense of safety, security, and self-confidence. This finding is corroborated by the consumers spending more on hand sanitizers, soaps, disinfectants, fruits, vegetables & fresh juices, etc.

Why should you care?

As things stand today, the coronavirus continues to evolve into new variants. It seems that the crisis isn’t going away anytime soon. Amid all the chaos, consumers are receptive to marketing messages that help them reclaim control of their lives, get over their fears, and regain their self-confidence. Carrying out marketing effectiveness surveys tells us that marketers who do that are successful in making customers commit to purchases.