High-income shoppers buy private label groceries while booking luxury vacations without hesitation. It looks like a contradiction, but the same psychological decision-making drives both choices, and retailers need to understand it to succeed.

On today’s podcast, we discuss how consumers decide what’s worth buying, why we spend hours trying to save $10 on groceries but think nothing of spending thousands on a vacation, how uncertainty influences the way people make decisions, and why being a smart shopper is becoming part of our identity. Tune in for a discussion featuring Vice President of Content and host Suzy Davidkhanian, Senior Analyst Grace Broadbent, and Ayelet Fishbach, Professor of Behavioral Science and Marketing at the University of Chicago Booth School of Business.