Cocooning Trend of Consumer Behavior, Essay Example

Introduction

In today’s society, with the multitude of mass messages received through social media and other outlets, there are significant advantages for some consumers to retreat within their homes and to shut out some of these influences, while also using technology as a significant advantage. These consumers may find that it is simply much easier to stay at home and to refrain from much of the chaos of the outside world, while at the same time recognizing that they possess many advantages at home and can function normally without having to leave their homes (Snider) This type of consumer behavior is often brought upon by unease and other difficulties that exist within the outside world, many of which are visible from the sofa by watching television or surfing the net (Snider). Due to the challenging nature of the world and the events that have occurred, many people are on edge and may not be willing to take the risk of going out when they could be comfortable at home (Snider). Therefore, cocooning is an important step towards the discovery of new methods to entice consumers to spend money, even without having the leave the comfort of their own homes.

Analysis

For some consumers, the concept of going to the store to purchase items, going to the movies, or attending a sporting event is not only expensive, but it is exhausting and may even promote fear. In addition, when they cocoon within their homes, they are less likely to spend money and will instead use what they have at their disposal at home, such as movies and cable television as forms of entertainment (Ooi). In particular, when disasters or other threats have occurred in a specific area, some consumers are simply unwilling to take the risks of leaving the home when the reward may not be worth the risk (Ooi). Current events surrounding the Ebola virus in the United States, even if perhaps irrational, may invoke fear and panic in some individuals to the extent that they will not leave their homes unless it is absolutely necessary. Therefore, these behaviors present a challenge to many companies who are aiming to increase consumer spending in spite of these events. This is an important reminder that companies must be able to entice consumers with their products and services, in spite of the different challenges that they face in attempting to convey that it is acceptable to continue to spend money in spite of fear. Companies may struggle, however, with these fears because in some cases, the more that they push, the more that consumers may pull back and retreat. As a result, a delicate balance must be achieved to encourage consumers to spend in spite of fear or apprehension.

Cocooning is a unique consumer behavior because it appears to trend along with current events and even media portrayals of these events that may impact individuals or groups of people. Since consumer behaviors are so unique yet they dictate the power that many companies have, they must work around specific challenges and aim to target these consumers in different ways. In other words, companies must be flexible and open to different strategies in order to increase their sales growth, in spite of consumer behaviors. This practice supports the demand for companies to work to meet the needs of consumers, even if they do not involve physical retail locations or other locations where consumers typically reside. This is an important step towards the discovery of new ideas and approaches that will enable consumers to begin to trust that companies are looking out for their best interests, while also considering that they want to remain viable and attractive to increase their sales.

Cocooning offers a unique sense of the mind of the consumer when fears and apprehension are heightened for different reasons. In light of this type of behavior, companies must be able to market to consumers and convince them that spending their money is not a negative action. Cocooning also demonstrates that the media has a significant influence on much of consumer behavior, particularly when there are conditions under which consumers are unwilling to spend because of the hyperbole and other exaggerations that the media has presented, many of which are grounded in facts and not opinion. Therefore, cocooning is largely driven by a number of different ideas and requires consumers to better assess what they see, read, and hear and to take this information and use it to their advantage. Some consumers have a heightened sense of alert and fear when the media goes out of its way to spark that fear; however, other factors must also be considered, and companies must be able to capitalize on these factors and aim to convince consumers that living in a bubble is not the best option.

Conclusion

Cocooning is comprised of a unique set of circumstances that are likely to have a significant impact on consumers and their willingness to leave their homes and spend money. Through advertising and media presence, there is often disconnect from reality that many consumers experience, leading them to believe one idea when the opposite is actually true. Therefore, it is important to identify these differences and to be proactive in enabling consumers to not be fearful of the outside world and to convince them that spending is a positive behavior rather than a negative one, as it stimulates the economy and improves general economic conditions for many people. These behaviors must be addressed more closely and provide a basis for examining new ideas to minimize this behavior and its related complications.

Works Cited

Ooi, Theresa. “Cocooning consumers hit retailers.” The Australian Business Review 26 October 2014: http://www.theaustralian.com.au/business/news/cocooning-consumers-hit-retailers/story-e6frg906-1226024311694?nk=00ee07c0f3466d48c4b431f8e5435a0a

Snider, Mike. “Cocooning: It’s back and thanks to tech, it’s bigger.” USA Today 26 October 2014: http://www.usatoday.com/story/tech/personal/2013/02/15/internet-tv-super-cocoons/1880473/