Category management is a challenging job, keeping up with changing behaviours and adjusting solutions to increase profit. A category manager who attempts to manage categories without the backing of proven shopper research and information is like a car heading in every direction without knowing which is the right one. You need more than just a data to be a successful category manager.
The behaviour of consumers and shoppers changes almost yearly; solutions that worked in a category one year may not work for the next. Retailers need to carefully identify category trends and behaviours if they are to successfully develop a category or brand and offer effective category solutions. High quality continuous shopper insights can help your category management evolve with developing trends – meaning your performance can continue across the years!
How? The answer lies not with data alone but with added insight specialist research companies can give. SBXL offer such …
How do you go about undertaking shopper insights research? How do you gain that real, usable data about shoppers, their behaviour and how they interact with your brands and business?
Maybe your company is a big fan of focus groups (hopefully not!), database marketing or a simple post-purchase interview with customers to gain some understanding into their thought processes. While these techniques certainly count as shopper research – do you really gain effective insight from them?
To be competitive in the modern retail businesses your shopper strategy needs more than second hand information that is lacking in accuracy. It needs knowledge and understanding of shoppers and their behaviour, gained from true customer insight – not something you can always gain from a public focus group!
Let’s take a step back for a second. What are shopper insights? And how do they impact marketing effectiveness?
Shopper insights are the results of shopper analysis taken…
Food retail and grocery shopping are changing in the UK. According to the Euromonitor International report, Grocery Retailers in the United Kingdom, published in February 2017, discounters were the standout channel with a current value growth of 11% in 2016. The growth was due to rising consumer price-sensitivity coupled with ongoing expansion in the leading players’ store networks. Luxury discounting was also a factor.
In the competition for the markets, Tesco continued to be a strong leader in grocery retailers with a 21% value share in 2016. Part of Tesco’s competitive edge came from having a presence in a number of channels. It led with a 24% share in convenience stores, 36% in supermarkets and 20% in hypermarkets along with its presence in forecourt retailers.
In spite of these strong figures, Tesco still felt the impact of discounters and online sales, losing a third of a percentage point in value share in overall grocery retailers in 201…
For years, one of the tenets of understanding the customer journey was the need to learn more about the customer experience at every touch point. That is, retailers needed to know about every point of contact that a person has with your store and your brand.
You need to know how they find your business. Is their first touch point a billboard, a sign outside your store, an advertisement, a Facebook post, or a tweet? How does your typical shopper find his or her way into your bricks and mortar store? The touch point is any point of contact that a consumer has with your brand – before, during, and after they make a purchase (or don’t make a purchase). Seeing an advert on television or reading a message on the side of a bus counts as a point. So does reading a Facebook post.
Think of the journey in terms of the customer lifecycle from initial point of contact through to customer service and satisfaction. With the technology of today and the dramatic shift…
If you are going to grab a soft drink or a box of tissues, chances are that you won’t bother comparison shopping. You are thirsty now or know you will be soon and you want your favourite soft drink. You just buy it. Quite simply, consumers buy out of necessity (you need shampoo) or habit or because these items are part of their everyday way of being. These low cost fast moving consumer goods have low profit margins but a huge volume of sales.
How can a retailer effectively market these fast moving items? Is it worth it because the profit margin is so low? I’m Phillip Adcock and I’d like to answer some of your questions. For now, let’s think about trends. What are the current and upcoming fast moving consumer goods?
In 2014, trends in FMCG included things organic, interactive marketing, and social media. Go natural, get your name on a bottle of Coke, share a hashtag on Facebook. That was then. What about now? According to Grocer Jobs, the 2017 t…
In 2017, it makes sense to think that the right social media campaign will increase sales. There has never been a time like now to reach into the homes and hearts of consumers.
The catch is that companies need the right information so that they can tell consumers about their products and brands in an enticing manner. This typically involves the four Ps of marketing. These are product, price, place, and promotion. How do we know which choices we should make as retailers? Research. That’s the answer. Retailers need to understand shopping behaviour.
One traditional way of gaining insight into the customer experience is through a focus group or a questionnaire. Retail market research services asked customers what they liked, what triggered them to reach the point of purchase, take the big step and buy.
It seems like a reasonable way to approach the issue. To carry out effective brand advertising, you need to know what it is that appeals to the consumer. Th…
There are many components involved in conducting retail analysis. Any investigation into how shoppers shop and what entices them to buy, is an intricate interplay of human behaviour, and global patterns of supply and demand. Such investigations involve understanding capital markets, investor relations, and having access to the latest consumer research.
Over the past 20 years, consumer behaviour has shifted, not just in the United Kingdom, but globally. The digital world has had a major impact on consumers. It may take a little longer to wait for delivery of an item, but the range of available choices compensates for the delay. Big discount stores remove a great deal of the personalisation of a neighbourhood store, but the prices compensate for that lack.
Traditional methods of marketing may no longer make up for shortfalls in consumer appeal We may think that the ability to touch and smell products will keep consumers coming to old-style …
Big name premium brand and product demonstrators in brick and mortar locations are expected to drive traffic into the impulse buy mode. Print and online promotions target existing customers, and attempt to lure new ones. This type of advertising has been a consistent factor in marketing in the past in the United Kingdom.
Marketers may be focused on figuring out how the experience of encountering a product demonstrator in an in-store promotion event be duplicated online. Are there better ways to promote online? Will a coffee machine demo work in a huge discount store? Does it matter? Online stores rely on low overhead and, as discount stores do, rely on cheaper prices.
Do in-store promotions have to a) be limited to actual brick and mortar stores? and b) do they have to be a hands on experience? Sure, being able to touch and feel products may appeal to the consumer, but the growth in online shopping proves that convenience and price are compelling factors too….
Suppose you have been successful in developing a customer insights strategy and discovered an actionable insight or two. What do you do with those actionable insights? More importantly, how do you know that they are actionable insights? Will they provide a growth in your business value?
Why do you need an actionable insight? Primarily to know where to start and what to focus on when drawing up a plan of action. Before going into that, we need to step back to the very first elements of the strategy. Customer insight (CI) strategy is all about understanding your customers. Regardless of who you thought your target market is or should be, your customers are those that your aim is actually hitting. Priority must be given to interpreting the data you already have, but unless you are able to interpret it properly, your effort is useless.
Simply stated, the basic element is not so much about hitting your target market, as it is about understanding who your target ma…
What are consumer insights and how do they impact on marketing effectiveness? It would be great if there were an easy answer to this question.
Hang on. There is an easy answer and having that answer can transform your marketing strategies. I know this because I am Phillip Adcock, a leading expert in shopping and shoppers. My team and I have developed ways to uncover what really goes on inside the mind of a consumer. Our business is consumer insight and our consumer insight techniques go far beyond using a focus group.
Chances are that what you think motivates consumers is not what actually does motivate them to make their purchasing decisions. How could you know why they buy what they buy? They don’t know either what prompts them to choose the products they choose.
When you advertise to the public, you are building brand awareness, and you may believe you are building a future for your brand and your company. Your advertising is useless if it does not reac…