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  • Driving Innovation: Understanding your consumers' unmet Needs
    • 09/20/17
    • Financial Services
    • Media and Entertainment
    • Retail
    • Technology
    • Consumer Goods
    • FMCG
    • Home and Living
    • United Kingdom
    • English

    Driving Innovation: Understanding your consumers' unmet Needs

    If we don't understand consumers' needs, how are we going to innovate and find new opportunities to develop our brand and products? Discover how to uncover their behaviour and attitudes at both an unconscious and conscious level.

  • Global smart MDA market almost triples in size in 12 months
    • 09/14/17
    • Home Appliances
    • Retail
    • Technology
    • Point of Sales Tracking
    • Global
    • English

    Global smart MDA market almost triples in size in 12 months

    Chinese consumers are driving global adoption of smart major domestic appliances. Discover more.

  • Global smart MDA market almost triples in size in 12 months
    • 09/14/17
    • Home Appliances
    • Retail
    • Technology
    • Point of Sales Tracking
    • Greece
    • English

    Global smart MDA market almost triples in size in 12 months

    Chinese consumers are driving global adoption of smart major domestic appliances. Discover more.

  • Driving Innovation: The importance of Targeting in your innovation process
    • 09/13/17
    • Fashion and Lifestyle
    • Financial Services
    • Retail
    • Technology
    • Consumer Goods
    • FMCG
    • United Kingdom
    • English

    Driving Innovation: The importance of Targeting in your innovation process

    Why do three out of four new product launches fail to achieve their potential? The first step to address this question is to identify and understand the target market for any new product or service launch. Re-discover the importance of Targeting in your innovation process with our interactive content. 

    • 09/13/17
    • Retail
    • Global
    • English

    Game of consumers: Why brands should tap into our childhood passions

    One of my strongest childhood memories is the thrill of collecting World Cup soccer stickers. I loved to feel the full pages in my sticker albums, to see the faces of all the players and pretend that I knew them.

    This collecting also became a social activity; it would go down something like this – we would sit in a circle, and one person would start to swipe through his or her deck of stickers very quickly. Suddenly, another friend would shout, “Nola!” – Peruvian ’90s card-collector slang for “I don’t have it!” That person would have the first chance to trade for the sticker; then he (or she) would start the same fast swiping.

    These were simple, fun times – my excitement and sense of belonging have probably never been greater.

    The appeal of gaming dynamics

    Why did I love my stickers so much? Science shows that gaming dynamics shoot dopamine into our brains; the neurotransmitters in charge of our body’s reward system also play an essential role in attention and learning. Considering the neurological cocktail that we are enjoying whenever we play, it is not surprising that more and more companies are starting to use gamification as a very efficient loyalty tool.

    Recently, I worked on a research project about a retail promotion – one that evoked my childhood collector memories. Customers would get a sticker for buying specific products and save them on a card; when you completed the card, you could exchange it for a prize: dishes, pots, a set of knives, or some other fancy kitchen tools.

    It was the second year of the campaign, and the retailer was worried that people might become bored with the game, making it meaningless to the buyers. So we sat down with the client’s customers, and what they told us was a big surprise – the complete opposite of what the retailer was thinking. People participating in the promo (mainly women with families) said it reminded them of the ineffable collections of childhood. The promotion card was their sticker album.

    Interacting with consumers through games

    Think about the Samsung Look-a-Galaxy-for-an-Hour challenge, or the “Chock-Chock” Coca Cola campaign in Hong Kong – smart brands make us interact with them through games. They invite us to play to alleviate a little of our everyday stress, and to build stronger relationships with consumers. I still vividly remember Panini, the sponsor of my World Cup stickers from then to nowadays, and the constant excitement of fulfilling my album… I still belong to a group of friends who exchange stickers every 4 years, for every World Cup.

    Playing is better done in groups, and even better when we can do it anywhere, anytime. Nowadays consumers expect their brands to give a satisfactory and involving experience on whichever channel they choose to use. We have to take into account that the consumer does not stop being a consumer when leaving the retail environment – just as a gamer does not stop being a gamer when the console is turned off. The consumer takes the retail brand along – in a pocket, on a screen – and it is in these experiences (both physical and digital) that the opportunity rests. Retailers can play and truly engage with consumers’ decision making and take advantage of omnichannel consumers to connect with them in both the present and future.

    Maybe it is time to start questioning our own loyalty strategies, and ask if we can play a little more. How can we make our brands fun (and memorable) for consumers? Along the way, we may bring up some powerful childhood memories, happy times etched in people’s minds. After all, doesn’t everybody want to be a kid again?

    Carlos Galvez is a Senior Analyst at GfK. To share your thoughts, leave a comment below or email carlos.galvez@gfk.com.

    • 09/11/17
    • Retail
    • Global
    • English

    Ecommerce: What’s the secret to attracting consumers to online retail sites?

    With an overwhelming amount of content, intense competition and multiple channels, we all know today’s online retail environment is a particularly challenging one for companies looking to maximize sales. Ecommerce players are under no illusion that they face a tough battle to attract consumers to their online stores but many are struggling to identify exactly what it is they must do to succeed.

    The explosion of mobile has already impacted ecommerce as many players have heavily invested in optimizing their interfaces for mobile usage. It definitely seems like this is the smart thing to do – in Indonesia for example, the time consumers spend on ecommerce apps has grown by a remarkable 188% over the last 12 months. And in Germany, Millennials visit ecommerce sites and apps 53 times per month [GfK Crossmedia Visualizer, July 2017].

    However, mobile is only the first step towards developing the right business strategies. There are many more opportunities out there – so let’s take a look at what they are.

    Understand consumers in order to target the right audiences

    It’s a no-brainer, but to land more business, it’s essential that companies connect the right e-shoppers with the offers that match what they are interested in. Retailers often deploy segmentations and consumer portfolios to improve their ability to target consumers. However, bringing segmentations into play for marketing purposes is all but easy given a simple fact: segmentations are often siloed from media behavior.

    To target the right consumers, companies need to better understand their media usage and cross-device behavior. Businesses can do this by enriching their current segmentations and in-house databases with key behavioral data based on variables such as media consumption habits, cross-device usage and visit frequency and duration. Secondly, they can build new online and mobile segments based on measured behavior to get a 360° view of consumers – from their gender, income and travel activities, to device usage, search habits and what markets they are interested in.

    Influence the consumer journey with a smart touchpoint strategy

    If there’s just one thing we know for certain about the connected consumer’s shopping journey, it’s that it is non-linear and easy to disrupt.

    It is therefore crucial for online retailers to know which touchpoints they need to activate in order to maximize their sales.

    Just as an example, when compared to offline shoppers, fashion e-shoppers in the Netherlands are 88% more likely to look for inspiration on Facebook and Instagram.

    Obtaining insights based on single source behavioral data that links purchase acts with media consumption and cross-device behavior is a key enabler for e-retail businesses. Not only does it help to identify the touchpoints and content that are most important for converting browsers to buyers, but it also helps companies gain a competitive advantage by activating the major disruption points on the purchase journey.

    Optimize your media mix to drive more traffic towards your ecommerce offering

    Relying solely on online targeting and digital channels alone will not do the job of increasing revenues to the maximum level. Advertising via offline channels and TV in particular, will still be an important contributor to the flow of shoppers visiting e-retail sites or apps. While this certainly isn’t the big news, answering the crucial question of how to successfully measure the ROI of crossmedia campaigns for ecommerce businesses remains a challenge.

    Properly tracking performance via agency provided KPIs and web analytics tools is a given, but it will likely lead to the trap of an isolated view on digital, TV and other offline media. To overcome this, campaign measurement needs to be based on single source data streams and businesses must use KPI assessments (e.g. net reach, incremental reach and target group attainment) wisely. This will allow them to plan successful future campaigns, know where to focus based on ROI and identify the optimal channels to drive traffic towards an online inventory.

    Time to think globally but respect local diversities

    Accurate behavioral and crossmedia data partnered with asking all the right questions is what’s behind developing the right ecommerce strategy. But on top of that, it’s essential to be aware of consumer preferences across different countries.

    Comparing multi-country ecommerce leaders across a range of markets, it’s becoming clear that retail is a predominately local business, with consumers mainly purchasing from big local names. For example, in Poland we see that Allegro is the major player while in Indonesia, Lazda is on top. But, this may not always be the case. In the last 6 months, Amazon has registered 6.8 million more unique users in Mexico, which signals a potential challenge for the popular local retailer Mercado Libre [GfK Crossmedia Visualizer, July 2017].

    Therefore, it’s also becoming clear that to compete and succeed in this ecommerce world, companies need a constant 360° view of what their consumers are doing online – and where.

    Learn about GfK’s Crossmedia Visualizer and sign up for a test of our innovative dashboard. This provides an in depth look at the ecommerce landscape in Indonesia – which, with a population of 260 million and a rapidly growing buying power, is certainly a key market for any ecommerce business.

     

     

     

     

     

     

     

     

     

     

     

     

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  • Map of the month: Purchasing power for home improvement products, Germany 2017
    • 09/11/17
    • Retail
    • Consumer Goods
    • Geomarketing
    • RegioGraph
    • Geodata
    • Picture of the month
    • Global
    • English

    Map of the month: Purchasing power for home improvement products, Germany 2017

    Retailers and manufacturers face the continual challenge of positioning their products in the market regions where they are most wanted. Our 2017 data on retail purchasing power illuminates the areas of Germany with the highest spending potential for various product lines. As an example, our map of the month shows the hotspots for home improvement products in Germany, including Hamburg, Frankfurt, and areas in the federal states of Bavaria, Saarland, and Rhineland-Palatinate. Retailers and manufacturers of home improvement products can use these insights to tap more market potential.

  • Driving Innovation: Steps for a successful innovation journey
    • 09/07/17
    • Fashion and Lifestyle
    • Retail
    • Technology
    • Consumer Goods
    • FMCG
    • United Kingdom
    • English

    Driving Innovation: Steps for a successful innovation journey

    We took a walk in your shoes and developed the Smart Home Study following our own Innovation journey in four steps: Targeting, Needs, Co - creation and Validation. Download this interactive content and start your own journey!

  • Consumer insights competition focuses on Now Generation, purchase journeys
    • 09/07/17
    • Fashion and Lifestyle
    • Financial Services
    • Retail
    • Technology
    • Consumer Goods
    • Brand and Customer Experience
    • Market Opportunities and Innovation
    • Point of Sales Tracking
    • Shopper
    • User Experience (UX)
    • United States
    • English

    Consumer insights competition focuses on Now Generation, purchase journeys

    In its sixth annual Next Generation (“NextGen”) Competition for undergraduates, GfK in North America is urging students to explore such key marketing topics as purchase journeys, teen and young adult consumers (the Now Generation), and “future-proof” innovations.

  • The mood of the world today – what are people thinking?
    • 09/06/17
    • Fashion and Lifestyle
    • Home Appliances
    • Financial Services
    • Media and Entertainment
    • Retail
    • Technology
    • Travel and Hospitality
    • Automotive
    • Consumer Goods
    • FMCG
    • Home and Living
    • Market Opportunities and Innovation
    • Global
    • English

    The mood of the world today – what are people thinking?

    In this free on-demand webinar, our experts dive into current consumer confidence and other key indicators of the consumer mindset and what it means for individual markets and brands.

  • The mood of the world today – what are people thinking?
    • 09/06/17
    • Fashion and Lifestyle
    • Home Appliances
    • Financial Services
    • Media and Entertainment
    • Retail
    • Technology
    • Travel and Hospitality
    • Automotive
    • Consumer Goods
    • FMCG
    • Home and Living
    • Market Opportunities and Innovation
    • United States
    • English

    The mood of the world today – what are people thinking?

    In this webinar, our experts dive into current consumer confidence and other key indicators of the consumer mindset and what it means for individual markets and brands.

  • The mood of the world today – what are people thinking?
    • 09/06/17
    • Fashion and Lifestyle
    • Home Appliances
    • Financial Services
    • Media and Entertainment
    • Retail
    • Technology
    • Travel and Hospitality
    • Automotive
    • Consumer Goods
    • FMCG
    • Home and Living
    • Market Opportunities and Innovation
    • Canada
    • English

    The mood of the world today – what are people thinking?

    In this webinar, our experts dive into current consumer confidence and other key indicators of the consumer mindset and what it means for individual markets and brands.

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