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 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 shopper’s 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 today’s environment. Held at RECon Asia 2010 in Beijing, China, on November 9, the session, titled Shopper Marketing, invited participants to look into the shopper’s psyche and understand how crucial it is to focus on such targeted marketing efforts.

Moderating the session, Retail Asia Publishing’s 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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2010 Dec Stories:

Part 1: How happy will it be for Asian retailers in 2011?

NRA Show 2011

Franchising is a retail sector that is a viable business option, and is growing at healthy growth rates across the region.

Asia-Pacific’s outstanding retailers celebrated at Retail Asia’s 7th award & gala event

Retail Asia Roundtable delves into customer psyche with Shopper Marketing

RECon Asia 2010 – a ‘multicutural and multinational’ event for shopping centre and retail industries

Carrefour keeping business in S’pore and M’sia, to sell Thai stores for US$1.15b

Lekutian opens in China

Benoy signs new contracts in China

Malaysia is an important growth market for Coca-Cola

Ambiente 2011 – a mega trade fair for the world’s consumer-goods buyers

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