My Presonal Biases As Consumer And Professional
As consumer I have in all certainty an authenticity bias and can’t stand fake products. This bias shows very clearly when I buy sports merchandise. A football shirt for example has to have that authenticity tag on it. Even if a perfect replica shirt was offered at say $20, I would still buy the authentic shirt at lets say $100. I think hand in hand with my authenticity bias goes that I’m quite a price insensitive consumer.
Another strong bias of mine is to support local stores, whenever possible. This bias can be observed when you see me walking into a local Kopi shop, instead of Starbucks.
Social proof is also high on my list, because nothing is more powerful than positive product feedback from previous buyers!
As a professional I’m much more price sensitive, but price is only one of a few criteria I use to evaluate purchases . When I source my products, which are manufactured in China, I make decisions that include a whole set of supplier behavioural observations, such as, turnaround times of emails, command of English language, as well as again, reviews from their previous customers. Once these points get a positive tic and the price is in line with the market, there is a strong likelihood that I will make a purchase from that supplier. On the sales side, of course my margin is a strongly relevant measure.
My previous life had an influence on some of my professional key values, such as “know your client” and “the client is the most important factor in any business”. I learned this from my father, who wsa an entrepreneur in the metal constructions industry in Switzerland, a good two decades ago, as well as from my 30 years of experience as a private banker. As a result, a key credo in my company is to go the extra mile and deliver a top class product to the market place.