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  • Beyond Point of Sale Data: Search and evaluation in the consumer journey
    • 11/07/18
    • Retail
    • Consumer Goods
    • Singapore
    • English

    Beyond Point of Sale Data: Search and evaluation in the consumer journey

    Getting insight into which touchpoints drive the best ROI for your brand

    To maximize their performance in today’s competitive retail landscape, brands need a single, accurate view of the market with instant insight into consumer purchase behavior. In my second post in this blog series, I’ll look at how the GfK Consumer Journey solution delivers that and enables brands to understand how consumers do their research when they buy a new product.

    My previous post looked at the purchase triggers in the UK television sector as an example of the insights brands can get from the GfK Consumer Journey module of the Consumer Insights Engine. This time, I’ll look at how the solution can give brands accurate, actionable information about how and where consumers research and evaluate their options when they are looking to purchase a new TV.

    Our Consumer Journey survey data reveals that the majority of television buyers in the UK do their research online. Most of them visited major retailer websites during their purchase journey – the most popular among TV purchasers were Curry’s (63%), Argos (56%) and Amazon (49%).

    (Source: Consumer Insights Engine Consumer Journey, Q1 2018 data for UK TV market)

    Perhaps that’s not so surprising, but our numbers also show that in-store touchpoints still play a major role in the purchase journey. More than half of TV purchasers visited a physical store to research their new TV. Of those who researched their options online, 57% made their purchase in-store.

     

    What’s more, in-store visits have higher conversion rates than online channels. Around 82% of people who went to a store bought a television in-store, while only 42% of those who searched online made a purchase online.

    (Source: Consumer Insights Engine Consumer Journey, Q1 2018 data for UK TV market)

     Even in a digital age, in-store advertising and displays play a major role in driving sales, but as our consumer journey insights research shows, this does differ somewhat by brand.

    This sort of insight is invaluable to marketing teams in optimizing their online and offline marketing and advertising channel and touchpoint investments throughout the consumer journey. They will know which channels and brand/product touchpoints consumers use during their search and evaluation of new products, helping them to make better decisions about campaign execution.

    They can also see which consumers considered their brand but bought something else, and why they made that choice. We will look into why consumers in this market purchase products in my next blog post. These insights enable brands to plan ahead and improve conversion rates amongst lost shoppers. Product category managers and operations departments, meanwhile, can learn about where consumers are researching and buying product, so they can make better stocking decisions.

    In the new year, we introduce online passive behavioral data to the Consumer Journey module. The introduction of this data will allow visibility of device use, search terms, touchpoints, sites visited and more. This will provide brands an even more granular view of consumer’s online behavior during the purchase cycle.

    One way in which GfK Consumer Insights Engine is unique is that it provides all of these insights in a single platform. This eliminates the need for multiple data and insights suppliers and provides a coherent view of your consumer’s purchase journey. I encourage you to try our online Consumer Insights Engine demo to understand how it works in practice and how it could help you make smart, rapid decisions.

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  • Beyond Point of Sale Data:  Which consumer needs trigger the start of the purchase cycle?
    • 10/30/18
    • Retail
    • Technology
    • Consumer Goods
    • Singapore
    • English

    Beyond Point of Sale Data: Which consumer needs trigger the start of the purchase cycle?

    Key insight: UK consumers replace tech products long before they’re broken or obsolete

    Point of sale (PoS) data tells you what consumers buy as well as when and where they make their purchase. When you calibrate this data with actionable consumer insights, you can maximize its potential by understanding who the purchasers are, how and why they make their buying decisions, and answer questions like:

    • What triggers a consumers’ need to purchase?
    • What proportion of consumers are upgrading a working product and what proportion are replacing a faulty product?
    • Which marketing channels are consumers receptive to at this early stage of the purchase journey?

    This is the level of high-impact insight you can get from the GfK Consumer Journey module of the Consumer Insights Engine – the only solution that provides a full view of the online and offline consumer purchase journey for the technology and consumer durables industries. Our solution takes you beyond PoS* by combining sales data with market research, online consumer behavior data, and advanced analytics in a single interface.

    Over this series of blog posts, I’ll look at practical examples of how this new solution brings brands closer to their customers, allowing them to understand the story of a customer’s purchase from the realization of a need up to early usage. We’re looking at how customers in the UK start on the road to buy a new television in this first post in the series.

    Let’s start by considering the purchase triggers for television shoppers in the UK.

    Most UK television purchase journeys begin because customers want to upgrade their TV or buy an extra unit for the home, not because they’re replacing a faulty product. By contrast, in Germany, more than half of new TV purchases replace a broken product. What’s more, some 12% of UK TV purchasers are acquiring a new television to replace one that is two years old or newer.

     

    Interestingly, this dynamic is present in other segments of the UK consumer durables and tech market. Some 12% of new dishwasher purchases and 10% of washing machine purchases replace functional products that are not older than two years. Clearly, the typical UK consumer is proactive and ready to seek a newer and better product long before the existing one breaks or becomes obsolete.

    As we can we see from this data, major tech and durable purchases no longer necessarily have a long lifespan in the UK consumer’s home. To capitalize, brands need to dig deeper to understand which consumers are happy to replace large appliances at regular intervals and the factors that prompt them to make a new purchase:

     

    In the markets we track, UK TV purchasers are among those that are most receptive to inspiration from marketing materials, even when they are not actively seeking to replace a product. This opportunity is nearly as large as the market of consumers who buy a new TV because they are dissatisfied with their current model. Brands should not ignore this.

    The effect is especially strong with people aged 25 to 34; some 34% in this group are spurred to upgrade by stimuli such as advertising. To make this insight actionable, we need to get more specific. For instance, we might want to know which touchpoints are best for reaching 25 to 29-year-old consumers who might be persuaded to upgrade to a 4K 65-inch television.

    Among UK shoppers looking to upgrade TVs rather than replace faulty units, 43% reported that in-store displays are their biggest inspiration. This indicates that even in a digital age, you still need a presence in the high street.

    Using the Consumer Journey solution, we could quickly identify several key insights that any player in this category can act on, including:

    • Around 10% of UK consumers are highly proactive, and ready to actively replace products within two years.

    • Consumers can be inspired to upgrade by strong above-the-line marketing.

    • When purchasing a new TV, brick-and-mortar stores are still a dominant influence in the decision-making process.

    These insights can be distributed to the relevant business functions to inform tactical and strategic planning processes, where they can make a difference to category performance.

    My next blog will drill deeper into which specific touchpoints consumers interact with when they are looking for a new TV and which are most influential.

    In the meantime, try our online Consumer Journey demo to discover how we can help your business to make faster, smarter decisions.

    Note: *In the US, GfK does not have access to Point of Sale data. US data is calibrated using information gathered from a telephone survey based on probability-based sample representative of both mobile phones and landlines. No retailer data is used in the development of the US offering.

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    Note: *In the US, GfK does not have access to Point of Sale data. US data is calibrated using information gathered from a telephone survey based on probability-based sample representative of both mobile phones and landlines. No retailer data is used in the development of the US offering.

  • Discover the impact of World Cup Fever 2018 in APAC
    • 05/09/18
    • Technology
    • Singapore
    • English

    Discover the impact of World Cup Fever 2018 in APAC

    The FIFA World Cup is the most prestigious and popular football tournament; highly anticipated and the most widely followed sports competition in the world. With its global reach and high consumer engagement, the spectacular event no doubt, has a significant impact on the global economy when it takes place every four years.

  • Over 19.71 Million Malaysians Tune in to Radio for an Average of 14 Hours 30 Minutes Weekly
    • 11/10/17
    • Media and Entertainment
    • Singapore
    • English

    Over 19.71 Million Malaysians Tune in to Radio for an Average of 14 Hours 30 Minutes Weekly

    In partnership with Commercial Radio Malaysia (CRM), GfK has released the second wave of the Radio Audience Measurement (RAM) 2017 results which indicated that over 19.71 million Malaysians tune in to radio for an average of 14 hours 30 minutes weekly.

  • On demand webinar: Understanding your Shoppers in APAC
    • 11/10/17
    • Shopper
    • Singapore
    • English

    On demand webinar: Understanding your Shoppers in APAC

    In today's competitive landscape, it is essential for brands and retailers to understand the shopping habits, behaviours, and preferences of their shoppers. Watch our on-demand webinar where GfK's Shopper expert shares the latest shopping trends across Asia Pacific based on findings from the latest GfK FutureBuy study.

  • Event video highlights: The Hyperconnected Consumers in India
    • 10/14/17
    • Connected Consumer
    • Singapore
    • English

    Event video highlights: The Hyperconnected Consumers in India

    Today's digitally connected world presents both opportunities and challenges for economies, societies, businesses and consumers. The exclusive GfK Hyperconnected Consumers in India event held in Mumbai on September 7 featured insights from a GfK custom research study, and discussions among a distinguished panel of industry and business leaders on this unique segment of the population.

  • One in ten of India’s internet population is a Hyperconnected Consumer
    • 09/12/17
    • Connected Consumer
    • Singapore
    • English

    One in ten of India’s internet population is a Hyperconnected Consumer

    Improving internet infrastructure across India, rising ownership of smartphones, and ubiquitous of its usage has made the mobile device the gateway of choice for the internet. A recent GfK study, focused on the top users of the country’s internet population, the hyperconnected consumers, is defined as someone who owns a smartphone, at least one other connected device, accesses the internet daily with, and spends more than four hours daily on the smartphone. 

  • Discover the Hyperconnected Consumers in India 2017
    • 09/10/17
    • Connected Consumer
    • Singapore
    • English

    Discover the Hyperconnected Consumers in India 2017

    A recent GfK study revealed that one in every ten of India’s internet population is a hyperconnected consumer, translating to around 41 million hyperconnected consumers in the country. Discover who they are now!

  • The Hyperconnected Consumers in India 2017
    • 09/10/17
    • Connected Consumer
    • Singapore
    • English

    The Hyperconnected Consumers in India 2017

    Consumers now are more connected than ever. New technologies and the benefits they bring are significantly impacting people’s behavior and altering their lifestyles as a result of digitalization.

  • Almost half of Indonesia’s connected consumers utilise ride hailing apps for their daily commute
    • 09/05/17
    • Crossmedia Link
    • Crossmedia Panel
    • Singapore
    • English

    Almost half of Indonesia’s connected consumers utilise ride hailing apps for their daily commute

    The online population in Indonesia has warmly welcomed the introduction of ride hailing services, as confirmed by a recent GfK survey. According to latest insights from the Crossmedia Link study, usage of ride hailing apps amongst internet users in the country has been trending up in the past 14 months, doubling its penetration level to hit 48 percent in June this year.

  • Growing interest in photography driving strong demand for mirrorless cameras in Thailand: GfK
    • 08/30/17
    • Technology
    • Singapore
    • English

    Growing interest in photography driving strong demand for mirrorless cameras in Thailand: GfK

    Rising affluence and interest in capturing better quality images have been fuelling mirrorless camera sales in Thailand. According to GfK Point of Sales tracking, photography enthusiasts in the country spent nearly THB 8.9 billion on around 341,000 units of such devices in the last 12 months, and the market is expected to expand further in the coming years.

  • Gaming computers record strong surge in demand across Asia Pacific
    • 08/30/17
    • Technology
    • Point of Sales Tracking
    • Singapore
    • English

    Gaming computers record strong surge in demand across Asia Pacific

    Gaming PCs remained one of the most important drivers of growth in the computer market globally, as well as in Asia Pacific in the first half of 2017. The continuing boom in the world of electronic games have been stimulating strong consumer demand in this segment, generating 39 percent growth in terms of volume, and a corresponding 36 percent incremental sales value across APAC over the same period a year ago.