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Speaker 1: Welcome to Fear and Greed Sunday edition, where we talk

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Speaker 1: about random stuff vaguely related to the world of business,

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Speaker 1: how to affects.

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Speaker 2: Us special subjects.

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Speaker 1: Yeah, is that how you describe it, Adam Land, what

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Speaker 1: we're doing?

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Speaker 2: Yeah, I would special subjects. And the trickery here is

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Speaker 2: we don't know what's coming.

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Speaker 1: No, you don't know, Michael Thompson. You don't know what's

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Speaker 1: coming either, do you.

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Speaker 3: I have absolutely no idea, and I'm a little bit wary.

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Speaker 3: You've got this glint in your eyes sewn.

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Speaker 1: You came off a big win yesterday.

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Speaker 3: Oh, the Saturday edition, it was, it was really quite thinking.

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Speaker 1: I think you mentioned Artemis.

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Speaker 3: Once or twice twice didn't help me.

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Speaker 1: But still, as a result of yesterday's win and your

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Speaker 1: obsession with Artemis, we have decided to talk about something

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Speaker 1: totally different, consumer behavior and buying habits. Yes, okay, there's

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Speaker 1: a cost of living crisis going on. I'm just interested

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Speaker 1: in how you two jokers are behaving. So question number one,

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Speaker 1: we'll start with you, Adam. Yeah, how often do you

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Speaker 1: rely on convenience services so home delivery, grocery delivery, ride

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Speaker 1: sharing rather than doing it yourself?

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Speaker 2: Very rarely random things that I know I have to

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Speaker 2: do an individual journey for I use Amazon quite a bit,

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Speaker 2: but everything else No, I pretty much do it myself.

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Speaker 1: So what's an example?

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Speaker 2: And Facebook marketplaces bicycle parts for my bike?

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Speaker 1: Do you bike still?

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Speaker 2: Yeah? Wow, you're once and done.

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Speaker 1: Once and done. I've month since we were not that

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Speaker 1: stupid by a five hundred twelter bike ride last year.

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Speaker 3: Michael, So, we are frequent users of online delivery services.

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Speaker 3: Usually that is like for coals and woolies, but we'll

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Speaker 3: also do aldi through door Dash and those those kinds

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Speaker 3: of things. We don't do a huge amount of, say

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Speaker 3: your kind of Uber eats and stuff. It is more

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Speaker 3: for the groceries of buying things through Amazon Click and collect,

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Speaker 3: for SA BGW all those kinds of things. Yes, absolutely,

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Speaker 3: is it because I don't use it at all?

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Speaker 1: Party? Is it more expensive or not?

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Speaker 3: No? No, depends on what you're looking at. So colds

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Speaker 3: and Woolworth. Typically, if you're shopping shopping through the app

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Speaker 3: or you're shopping on the website, the prices are matched

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Speaker 3: across whether you're doing it in store or including delivery.

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Speaker 3: So delivery has a fee unless you buy say there

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Speaker 3: you're part of their membership, and it might cost you

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Speaker 3: twenty bucks or fifty bucks across the year. But all

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Speaker 3: of a sudden, if you're paying fifty dollars across the

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Speaker 3: year and you're getting free kind of priority delivery and

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Speaker 3: you can do that fifty times, it's suddenly it is

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Speaker 3: very very good value and you don't have to set

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Speaker 3: foot in the store. You do it all from home

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Speaker 3: and it just lands on your doorstep. Other things like

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Speaker 3: say Aldi doing their partnership through door Dash. Yeah, things

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Speaker 3: are slightly more expensive, but it might be so if

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Speaker 3: you're buying something that's ten dollars normally in store, it

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Speaker 3: might be eleven dollars on the on the app. Have

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Speaker 3: you looked into this extensively?

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Speaker 1: Staying with you, Michael, when you're buying your subject is

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Speaker 1: when you're buying clothing or a household product or something

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Speaker 1: or other, do you think about sustainability eco friendly options,

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Speaker 1: especially when they're a little bit more expensive.

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Speaker 3: Yeah, more so now than in the past. And as

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Speaker 3: actually we're talking about this the other day at home

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Speaker 3: about when we went kind of camping recently and looking

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Speaker 3: at clothes and things for the kids, and really you

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Speaker 3: put them in kind of your five dollars Kmart T

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Speaker 3: shirt because it's going to get completely destroyed rather than

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Speaker 3: something more expensive. But more broadly, now we are happy

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Speaker 3: to pay a little bit more for something that is

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Speaker 3: actually going to go the distance, but is also going

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Speaker 3: to have been made in a more sustainable way. I

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Speaker 3: think a lot of what we've seen around fast fashion

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Speaker 3: and the way that these some of these things are

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Speaker 3: being manufactured is not good, is not nice, and it

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Speaker 3: is worth if you can afford to do it, to

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Speaker 3: pay a little bit more to get something that has

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Speaker 3: been made well and will last long, and it ends

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Speaker 3: up being a better financial decision often in the long run. Anyway,

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Speaker 3: A deep.

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Speaker 2: Ski yeap very much so, you know, and you get

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Speaker 2: brand success stories like Patagonia, right who've made a virtue

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Speaker 2: out of it, all birds and so on. I really

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Speaker 2: like those businesses, so yes, I try to it does matter.

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Speaker 2: And also I just hate waste, you know, and so

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Speaker 2: things that are not made well, you know that you're

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Speaker 2: taking a big risk on how long the stuff's going

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Speaker 2: to last.

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Speaker 1: Okay, So staying with you, Adam, and this is very

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Speaker 1: appropriate for you. If you're a lovely starched white collared shirt,

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Speaker 1: how often do you purchase premium or luxury brand items

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Speaker 1: over generic brands? And it's not even the shirt. I mean,

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Speaker 1: medicines are a great example. So if you go to

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Speaker 1: the pharmacy and you've got a prescription and there's a

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Speaker 1: generic brand, or even just buying paracetamol, do you tend

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Speaker 1: to buy the brand name or the home brand name

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Speaker 1: or the generic? Oh?

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Speaker 2: So interesting? I do. Because if I'm going into like

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Speaker 2: a chemist and I recognize a brand.

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Speaker 1: Do you buy one or the other? I do? Oh,

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Speaker 1: thanks very.

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Speaker 2: Much by both. But with the so to your point

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Speaker 2: around so the prescription drugs, they always say do you

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Speaker 2: want this one? Or do you want this one which

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Speaker 2: has the same ingredients, but it's just a home brander go, yep,

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Speaker 2: you bet. I don't care about the brand name. Really,

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Speaker 2: it's what's in it that I care about.

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Speaker 1: Notwithstanding the deal. I literally spent all that money researching.

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Speaker 2: Yeah, because I think they've got that return and once

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Speaker 2: the exclusivity has gone to the market, great make use

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Speaker 2: of it.

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Speaker 1: Michael.

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Speaker 3: Yes, Look, I I used to be very much on

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Speaker 3: board with the generic and the home brand ones, and

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Speaker 3: so I think this is where at home we've had

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Speaker 3: a bit of a we've seen and I have evolved

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Speaker 3: to meet in the middle really, where whereas she's always

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Speaker 3: been kind of more the not the home brand or

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Speaker 3: the generic ones. But there are certain things medicines. If

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Speaker 3: there is a generic option, yeah, absolutely, I'll go with

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Speaker 3: that because as long as it's got the same active ingredients,

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Speaker 3: then I'm okay. I don't mind. In the supermarket, it's

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Speaker 3: probably a different story, and that's probably where there is

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Speaker 3: a lot more it's a case by case kind of thing. Milk,

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Speaker 3: we don't buy the supermarket brand one usually it's usually

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Speaker 3: to it's just I think after all of the drama

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Speaker 3: around the one dollar eliter milk that we tend to

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Speaker 3: go for the ones that have are going to see

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Speaker 3: more money ending up in the pockets of the farmers.

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Speaker 3: It's occasionally I will buy the cheaper one that ends

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Speaker 3: up back in the fridge, and that does get noticed

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Speaker 3: when that happens. But broadly as well, a lot of

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Speaker 3: the generic the home brands in supermarkets, the quality has

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Speaker 3: increased so much that they have actually become premium products

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Speaker 3: in their own right, and so that you can actually

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Speaker 3: save a significant amount of money by buying the home brand.

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Speaker 3: And if you buy the premium home brand, then they're almost.

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Speaker 1: Ice cream, nothing better vanilla.

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Speaker 3: Yes, I mean, well that is that that is the

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Speaker 3: premium brand brand, right, Whereas you can get a very

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Speaker 3: good kind of cold or Woolworth's premium ice cream and

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Speaker 3: it's not actually going to be that much different to

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Speaker 3: the connoisseur one and you will save like forty percent where.

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Speaker 1: I had time so very quickly, Michael, do you spend it?

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Speaker 1: This is a question made for you, mister prime Minister.

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Speaker 1: Have you ever spent time researching products online before making

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Speaker 1: a purchase?

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Speaker 3: Michael, Yes, yes I have, and I find myself getting

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Speaker 3: into analysis paralysis, where you just end up just searching

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Speaker 3: and searching and reading. Unfortunately, Shan is an excellent researcher

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Speaker 3: when it comes to products and things, and very very

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Speaker 3: good at kind of what other people say are looking

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Speaker 3: at forums and things. I just get a little bit

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Speaker 3: overwhelmed by the amount of information that is out there

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Speaker 3: when you are trying to research a product. But yes,

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Speaker 3: short answer, yes, Sean, I have Adam.

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Speaker 2: I do a lot of research. Lara goes with her

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Speaker 2: gut and we end up pretty much in the same place.

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Speaker 1: Okay, final question for you both Adam starting with you,

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Speaker 1: and now this is also like an age thing and

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Speaker 1: a financial ability thing. Do you spend your spending habits?

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Speaker 1: Are they mostly on your luxuries, physical possessions or experiences?

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Speaker 1: So nice clothes or travel?

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Speaker 2: I think probably overall nice things would win with the

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Speaker 2: occasional spike in travel. So by exception, you know, we

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Speaker 2: travel and go overseas, and so Lara's from England. We

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Speaker 2: love taking our boys there. You know, they're half English,

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Speaker 2: so and that takes a big investment of time, oxygen

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Speaker 2: and money, a lot of planning and we love it.

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Speaker 2: So day to day definitely on the sort of luxuries

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Speaker 2: of life, and so more exceptionally it's it's travel.

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Speaker 3: Michael, what was the question again, if you're going to.

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Speaker 1: Spend on luxuries, you're more likely to be spending on

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Speaker 1: physical possessions or experiences, so you.

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Speaker 3: Know, yeah, yeah, Look, I think we have young kids.

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Speaker 3: There has been a lot of possessions that have been

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Speaker 3: bought over the last kind of decade or so, and

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Speaker 3: we are making a really conscious decision to put more

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Speaker 3: of that spending into experiences instead of possessions. And that's

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Speaker 3: partly because we are at a point where we are full,

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Speaker 3: like we have got no room.

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Speaker 1: For house is full.

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Speaker 3: The house is full, and I'm like, you know what,

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Speaker 3: To an extent, there is so much value to come

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Speaker 3: from an experience that's something that the kids will will

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Speaker 3: remember forever, as opposed to buying another toy or another

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Speaker 3: another something that will be played with for a little

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Speaker 3: bit or used for a bit and then forgotten, whereas

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Speaker 3: the experiences will stay forever. And so that's that's kind

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Speaker 3: of how that is affecting the way that we're spending

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Speaker 3: right now, travel, travel, travels.

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Speaker 1: I'm concerned. I think we've just unpacked everything every marketer

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Speaker 1: needs to know about consumer habits between the three of us.

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Speaker 1: Well done, Thank you very much, Michael, thank you, Sean,

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Speaker 1: thank you Adam, thank you.

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Speaker 2: Sean, thank you Michael.

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Speaker 1: I'm sure, nail man. And this is the Fear and

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Speaker 1: Greed Sunday edition, and enjoy your day.

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Speaker 3: Mm hmm