Portia is a consumer goods analyst, and does dual research using economic and scientific methods. She has worked for numerous brands to help promote their products, and help develop business progression through sound methods of project management. Her expertise on the subject of commerce is neuroscience. When it comes to business, neuromarketing is what well-known fashion businesses are using now. It is also known as consumer science, and refers to measuring the neural triggers of a persons physiological and neural mind signals. Consumer neuroscience dives deep into consumers decision making, preferences, and motivations as to why they buy, according to Harvard business Review. This type of science has been used for years to create loyal customers, and even maintain the longevity of a fashion brand, such as Luxury fashion. Portia wrote a very informative article breaking down precisely how brands set themselves up for success. One brand in particular, that has continued to strive greatly is De Beers. Their position in the industry is long running, and their customers continue to grow over time. De Beers is considered a pioneer in the luxury fashion accessories market; regardless of the millennial consumer demanding sustainable practices, and preservation of world resources.
De Beers, originally known as De Beers Consolidated Mines, began their legacy in 1888. They specialize in diamond mining, diamond retailing, and the like. They use to control 80% - 85% percent of the diamond mining industry. De Beers also designed the industry's first diamond grading system known as the 4C’s; cut, color, clarity, and carat. They hand select the most unique, and rare natural diamonds on the market. For the past years, De Beers has been evolving and developing new advents for providing quality goods to world. They have a commitment to positive long-term impact in the fashion industry, with new projects coming soon.
There 2030 Building Forever Goals acts as checkpoint for their future plans. This includes leading ethical practices from across the industry, partnering for thriving communities, and protecting the natural world. These goals are in perfect alignment to satisfy the new generation of consumers driven by sustainable ideals. Evolving with the times is a must for a business to thrive, but so is neuroscience. With the expertise of Portia, details about how De Beers will continue to develop their new loyal consumers will be divulged. There are a few key neurological methodologies in play with De Beers, since the opening of their flagship store in 2002.
According to Portia stimulating the consumers emotions contributes heavily to their spending habits. She explains how neurotransmitters are specific to stimuli, and that triggering release can make a consumer buy, or become addicted to a product. Dopamine is a well-know neurotransmitter associated with pleasure. The triggers for Dopamine usually are moments or events that inspire extremely positive emotions. De Beers marketing does just that; proposals, engagements, mothers day, and any occasion that calls for diamonds. These events invoke happy feelings, which cause customers to associate De Beers goods with happiness. It makes customers look forward to buying their products. It is interesting to note that neuroscience has the ability to make the consumer bypass virtually any other aspect associated with the product solely due to how it makes them feel. Adrenaline is another commonly known neurotransmitter that when released causes excitement. De Beers is a diamond focused company; since diamonds are forever, immediately marriage comes to mind. That slogan is also considered a marketing anchor, binding people to that feeling. The combination of both these neurotransmitters will most certainly create new customers. De Beers fulfills an emotional desire through purchasing.
Apart of being a neurological expert is studying consumer behavior. Conspicuous consumption is another theory discussed by Portia. It describes when a consumer no longer views a product as a daily commodity, but a means to show wealth and status. It is clear to see that association with Luxury products. De Beers is no exception; their price points, exclusivity, rarity, and image makes consumers want to be apart of their luxurious world. The fact that De Beers products are exclusive and sometimes limited can also trigger neurological responses. Consumers do not want to be ‘left out’. Limited quantities of an items not only reduces over saturation, but creates high-demand.
Fashion is a competitive industry. It takes serious commitment to achieve high standards. The Luxury market is no different. There are new brands entering the industry every year and their survival depends heavily on their marketing. Portia continues to help companies thrive with her consulting. Her expertise in neuroscience is well-researched academically and through experience. Training others to have a progressive global mindset is part of what motivates her. Understanding the customer inside and out is key to creating a successful business. The customer is everything; without them, there is no business. Portia Antonia Alexis is a consumer goods guru who has great insight for the future of fashion. Her understanding of customers, and people in general, will make great change in the fashion industry.