Are people more risk averse post-pandemic? Here’s how uncertainty actually affects customer behaviour

Consumers want certainty.

That seems to be the prevailing assumption when it comes to influencing customer behaviour. In times of great uncertainty, so the story goes, people crave stability and become more risk averse.

…Not so fast.

While the likelihood of something happening does affect customer decisions, what decision is made depends on whether the outcome is likely to be positive or negative.

That means it’s not only the certainty of an outcome we have to worry about, it’s whether that outcome is good or bad. If we want to influence a customer to do business with us, we need to adjust our approach accordingly.