top of page
.png)
n2w is a proprietary system that leverages the best of Nobel Prize winning Behavioral Economics (BE) concepts like “system 1&2 thinking, Predictably Irrational, Hooked & others” for “NUDGING” shopper behavior to “Trade In, Trade Up & Trade Across TiTuTa”.
BE's Super Powers
SIMPLE & INTUITIVE
EASY TO EXECUTE
LOW COST HIGH IMPACT
Behavioural Economics (BE) What?
-
Most of today’s shopper & retail strategies are based on the traditional “Homo Economicus” model originally founded by Adam Smith & F.W. Taylor in the 17 & 1800s.
-
The model imagines humans to be 100% logical & rational. Evaluating every single shopping decision in the store/online based on data & information.
This turns out to be SIMPLY INCORRECT!!
-
Nobel prize-winning economists, Richard Thaler (2017, Nudge Theory), Daniel Kahneman (2002- Prospect Theory and Anchoring Bias, System 1 & 2 thinking) & others including Dan Ariely (Predictably Irrational) painted a new picture.
-
A picture in which, humans are error-prone, emotional, and biased & make 90% of everyday decisions using a system called the “autopilot”.
-
Auto-pilot is quick & critical for our survival (e.g. “flight/flight response”, crossing a street, etc.). Yet, it works on rules of thumb, heuristics, herd mentality, inertia, recency, high impact & other biases & hence is error-prone!!
So What?
World’s greatest companies have realized the “remarkable power” of BE in shaping human behavior & leveraged it to create products (Facebook, Twitter, Tik-Tok, etc) that deliver extreme customer engagement.
The Model – Nudging Shoppers at FMOT to Drive Ti-Tu-Ta
What’s the “n2w” execution roadmap?
Business Impact
5%-15%
Triple ‘C’ Win
Triple – consumer,
customer & company - win
Transformation
.png)
Transformative
Organization capability
Affordability
.png){kind=icon}
Low cost
Adaptability
.png){kind=icon}
No Major change in
current processes
Execution
.png)
Easy of execution &
implementation
Our Toolkits
.png)
.png)
.png)
bottom of page