Hey there. It's Michael from amazing FBA welcome to mindset moments, a little bite-sized chunks of thoughts and hopefully wisdom about business and life from my wanderings around London, and other parts of Europe.

Folks, I'm out again, looking at my most glamorous wearing my fetching Sam Brown belt. I've been out cycling around London as is my wont today. I just wanted to catch another instance of me, observing myself as a consumer, if you like, with my marketing head on. I always find that fascinating. I've just been into a place called the cycle Republic, which if you look at it, it's just full of, as you'd expect beautiful expensive bikes Brompton, which is, you know, very famous engineering quality, very expensive.

what it is, it's going to be over a thousand pounds worth. There's helmets, there's accessories. So, also, I want to think about a few different things. First of all, the consumer need. They say, sell to people with a bleeding neck. So, in other words, when somebody's seriously, in pain, they're the most likely to actually buy.

I've just been cycling in the rain. Thank goodness it stopped raining, as you can see. by the way, beautiful, old church behind me here. And that's part of the point of what I want to talk about. There's a hint there for you to think about in a second why that will be relevant to my buying experience.

I want to think about the price that I was willing to pay specifically today. So first thing, a person and the pain. There's me. I'm a cyclist. I identify myself as places as a commuter cyclist. And secondly, I'm a person with a pain that is called having cold hands while I cycle in the rain and the wind and all the lovely weather we get in London this time of year sometimes.

so second thing, location, as you just see, there's some beautiful buildings around here. It's right in central London, mountains of Hoban. District. it's W C one to the borough of Hoban as it used to be, quite high end place in the city of Westminster. So my expectation is it's going to be expensive.

And I went to a specialist shop called cycle Republic, partly because I just saw it and, visibility is critical. If you don't see something, you're not going to do anything about it. My expectation was that it would be good quality stuff and expensive. And so it has proved. So the next thing is I browsed around and they had a bunch of expensive products.

I can't really show you without making the shop owner very annoyed, but, they had, gloves, which is what I'm looking for from amazingly to my eyes, 50 pounds. And then they'd arrange them in order from expensive to cheaper. And somewhere down near the bottom, I found a pair of those stuff for nine pounds, but I didn't think it was really going to be waterproof.

And that's pretty essential for me in this situation. So I'm just managing to crash my bike here. So in the end, I went for a 20 pound pair. Now, why did I buy these? First of all, a few things. the need was there, so I'm prepared to pay more if I can get it quickly. Typical of Amazon consumers, I'm not that price sensitive.

Typical. I'm a consumer Amazon consumer, but I like to shop around. I mean, Amazon's much more price driven than a shop context, in the context of a brand that looks quite smart and has a lot of high-end products in its store, literally in its storefront here. I was prepared to expect a higher price.

Comparison, they have 50 gloves, had 9 gloves. I'll bet you any money that they sell most of the stuff between about 20 and 30 because those other things are what we call price bracketing. And finally, features. The actual only way I could justify to myself spending 20 on a pair of gloves, it looks so simple, maybe they look to me like a 5 pair of gloves somewhere else, is that number one, I trust.

that they're cycle specialists, so they actually will know my business as a cyclist. They know and understand my needs. They're not just selling random widgets,