Why the 'new consumer' myth ignores human nature's constants

Every few years, claims arise that consumers have fundamentally changed. New technologies, digital platforms, and shifting social trends often fuel this idea. But recent discussions suggest otherwise—people’s core motivations may stay the same, even as their options evolve. At a recent event, speakers Param Venkataraman and Prakash Sharma challenged the notion of a 'new consumer'. They argued that while the world around people has transformed, the basic drivers of human behaviour remain unchanged. People still seek safety, fear loss, and crave social acceptance. They also look for reassurance when facing uncertainty.

The real shift, they explained, lies not in consumers themselves but in how choices are presented. When options feel unclear or risky, people often delay decisions or avoid them entirely—a problem they called the 'false dilemma'. Consumers don’t always want more information; they want more confidence in their choices. Rather than analysing every option objectively, people rely on signals that make their decisions feel safer. This behaviour persists even as technology and economic conditions change.

The discussion highlights a key point: consumer behaviour is less about transformation and more about adaptation. People’s needs remain steady, but the way they navigate choices continues to evolve. Understanding this distinction could help businesses and policymakers design better solutions for decision-making.