👉 Background: Coles is the little red supermarket that’s known as number two in the Australian supermarket game with around 28% market share - that's behind Woolies with a whoppin' 37%.

👉 What happened: During lockdowns, the supermarkets absolutely BOOMED. Let's be honest - it was pretty much the only legal activity one could have. But now, Coles’ CEO reckons this Christmas could be the best one yet.

👉 What else: High fives and celebrations for that. Buuuuuuut he also mentioned that there would likely be a pullback in January and Feb. Even so, Coles reckons it's in a good place because supermarkets are well placed in the hierarchy of needs.

What's the key learning?

💡Maslow’s hierarchy of needs is an idea from psychology that has been used by many businesses to inform decisions. It helps business leaders understand customers, employees and even shareholders.

💡It goes like this. Imagine a big, triangular pyramid that shows how people are motivated.

• At the bottom of the pyramid is the most important parts of our life - our physiological needs (think: food, water and shelter)
• Then we've got safety needs (think: personal security, employment and health)
• Then we've got love and belonging (think: friendship, intimacy, family)
• Then, we've got esteem (think: confidence and self-belief)
• And finally, self-actualisation at the top of the pyramid (think: personal growth and self-fulfilment)

💡For Coles, food is one of their core products and this just happens to sit as our very basic needs.. But come January and February, the boujee, premium purchases may just be a little less.

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