The online shopping world has been dealing with significant demographic changes in recent years. Speaking at the Omni-Channel Conference, mySupermarket Director of Brand Partnerships Mandy Critchley spoke about how demographics will affect the future market.
According to Critchley, the key period between researching grocery products and buying them is generally two days, at which point around one third of consumers will buy offline and two thirds will buy online. In addition, with around 40 percent of all products being part of a promotion at any given time, consumers are realizing the importance of pre-purchase research.
Companies that pay attention to shopper behavior and make the effort to gain a greater understanding of their buying patterns can note significant improvements to their bottom line. Critchley pointed to the example of using click stream analysis to discover the days of the week that shoppers are most likely to buy a certain product. For example, they discovered that coffee tends to be purchased on Mondays while spirits are most often bought on Thursdays. Looking at what else buyers place in the basket on these occasions is one area that can be explored for future marketing efforts.
Critchley feels that if retailers can hone in on how shoppers make the journey from research to purchase, they can take advantage of sending targeted messages at this critical time.
Multi-Platform Sales Strategy Essential
Meanwhile, experiential marketing firm Kemosabe’s Founder and Creative Strategy Director, Ian Irving, said that customer behavior tends to change so quickly that brands and marketers are having trouble keeping up with them. Failing to have a multi-platform sales strategy could break a business. He feels that the market should be split into segments based on lifestyles, values, attitudes, personality traits, and interests. Moreover, a stronger grasp of passions and influences can help to boost engagement and develop stronger relationships with customers, thereby inspiring them to become repeat customers.
This blog post was based off an article from Logistics Manager. View the original here.