Shopper targeting: how to turn consumer insights into in-store and online success

(IT-NEWSWIRE.COM, October 07, 2015 ) Routine and inertia in shopping habits is preventing people from finding new products that meet their needs. Consumers want to live healthier lifestyles, try new experiences, get better value for money, and support ethical brands. However, their shopping habits often get in the way of finding products that meet these needs. Retailers and brands need new strategies to break through shoppers’ busy lives, their reluctance to try new products, the routine and inertia in their shopping habits, and their lack of emotive connection with products.

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Key Findings

Understanding why consumers want to make better choices, and overcoming the barriers that are preventing them from doing so, will help brands and retailers to convince shoppers to trade up to higher margin products
Recent weak economic conditions mean consumers have been looking to limit impulse purchases; however, the return to economic growth means consumers will be increasingly confident about their ability to spend on non-essential items, and increase the amount of impulse purchasing over the next few years
The use of NFC technology and personalized promotions will disrupt habitual shopping trips and encourage shoppers to try something new

Synopsis

The “Shopper targeting: how to turn consumer insights into in-store and online success” report by Canadean aims to ‘get into the minds of consumers’ and examine what motivates them when it comes to shopping. Increased competition in the market and the rise of discounters who have adopted a low SKU model are some of the market-led factors that are having an impact of the profitability of retailers. From a shopper perspective, busy lives and routine and inertia in shopping are some of things that prevents them from trading up to higher margin products that better meet consumer needs.

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What else does this report offer?

Provides an understanding of attitude-behavior gaps and how they impacts shopper behavior
An overview of the challenges retailers face in convincing shoppers to trade up to new products, with corresponding solutions to encourage more considered and experimental purchases
What strategies need to be implemented coupled with tactics that will help retailers achieve this
Case studies examining the approach retailers and CPG brands have taken when it comes to trying to enhance the overall shopper experience
Examples of how and where new technology has been successful and how others can adopt similar methods
Product examples showing how innovation leaders are successfully targeting shoppers

Reasons To Buy

Gain an insight into what motivates consumer behavior and how you can adapt to encourage consumers to trade-up to your higher margin products
Identify ways in which you can help enhance the shopper experience, with case-studies examining success stories, improving brand loyalty
Key insights and action points will help you derive key strategies that will allow you to compete with market leaders and provide a competitive edge to product launches
Our unique consumer data has been developed from extensive consumption surveys and consumer group tracking, giving you an exclusive insight into what consumers want

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Table of Contents

Executive Summary
How shopping behavior is leading to un-met consumer needs
Strategies to turn consumer insights into in-store and online success
Summary Methodology
Survey data and consumer data
Canadean mega-trends
Factors influencing the profitability of retailers
How retailers can use consumer and shopper insight to get consumer to break habit
Importance of consumer and shopper insights in trying to get shoppers to trade-up
Four key areas where new retail strategies will encourage people to trade-up
Four challenges must be overcome before shoppers will regularly trade up for higher
margin products
Retailers need to adopt the correct strategy and tactics to overcome barriers preventing trading-up
Impact of the increasingly busy lives of consumers
Key insights and action points
Why consumers feel they have little time to shop
Reasons why retailers have difficulty targeting consumers
Consumer perceptions of shopping
Transition of shopping habits
How retailers are trying to bring back shoppers
How brick and mortar stores can compete against online retailers
Impact of the increasingly busy lives of consumers (continued)
How retailers can encourage shoppers to spend more time looking for more premium items
Recommended actions to break the routine and inertia of shopping trips
Receptiveness of consumers to of new products in the retail aisle
Key insights and action points
Attentiveness of shoppers to new products
Importance of stability and sticking to a budget
Impact of improving economic conditions on impulse purchases
How to create stand out appeal
Discounters model for success
Recommended actions to encourage habitual shoppers to spend more time considering new and alternative products
Routine and inertia in shopping habits

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Shopper targeting: how to turn consumer insights into in-store and online success