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Today’s mobile, web-connected, social-networking consumer society demands exceptional service from retailers. Without it, shoppers simply go elsewhere. Your customers have access to vast amounts of information, including comparative pricing and reviews that empower them to make well informed store and product decisions. While store location remains a significant factor, shoppers are more willing than ever to patronize retailers who deliver value and a superior shopping experience.
Shopper insight enables exceptional service by aligning your marketing and merchandising efforts at the customer level, measuring the effect of specific activities and refining the process through a continuous feedback loop. By identifying and addressing each shopper’s individual tastes and preferences, better informed retailers are able to attract, satisfy and retain customers, and especially high value shoppers. The results can be larger baskets, more frequent trips and even lower cost, ensuring sustainable profitability.
Nearly all retailers have already recognized the importance of shifting their focus from simply “offering products” to “serving shoppers”. Yet, despite several high-profile success stories, many food, drug and discount chains and their suppliers still struggle to incorporate shopper insight into their everyday business processes. Without a practical roadmap that marries updated business processes with new technologies, most efforts are doomed to become disconnected “one-off” experiments embracing unproven “miracle” technologies. Success requires an integrated approach that reflects your shoppers, your marketing strategies, your operational processes, and your position in the marketplace.
This series of white papers is dedicated to helping retailers assemble and implement a practical roadmap that utilizes Shopper Marketing and Merchandising (SM&M) to drive sustainable profitability in today’s new retail order.
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