Magazines Archives - 2010 Dec
Retail Asia Roundtable delves into customer psyche with Shopper Marketing
Story 5 - Review
As shoppers continue to evolve in their consumption habits, the focus has again shifted back to how the industry can capture the shoppers attention to turn browsers into buyers and ensure that the cash till keeps ringing.
This year, the Retail Asia Roundtable aimed to identify the importance of shopper marketing and how consumers and retailers are reacting in todays environment. Held at RECon Asia 2010 in Beijing, China, on November 9, the session, titled Shopper Marketing, invited participants to look into the shoppers psyche and understand how crucial it is to focus on such targeted marketing efforts.
Moderating the session, Retail Asia Publishings executive chairman, Steven Goh, set the tone for the discussion by defining shopper marketing as essentially that repertoire of effort, aimed at converting shoppers into buyers, critically at the point of purchase.
It implies, therefore, that intentionally, shopper marketing involves a lot of marcom activities, both tactical and strategic, at the retail outlet, with the objective of influencing purchasing decisions when the shopper is closest to the merchandise, he continued.
Citing a consumer behaviour report based on the North American market, Goh established the importance of shopper marketing by pointing out three observations noted in the study. First, 70% of brand selections are made at the store. What the study found is that, more than two-thirds of the time, consumers made a conscientious decision on a particular brand when they were at the store. Second, 68% of buying decisions are unplanned and, third, only 5% of consumers are loyal to the brand of one particular group, he said.
This means that there is close to no such thing as brand loyalty in the consumer buying jungle, Goh declared.
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