While understanding existing shoppers will help retailers retain them and increase the frequency of purchases, at some stage retailers are unable to grow without attracting new shoppers. Winning new shoppers is especially important as customers become less loyal to retailers. As GfK insights show, there is not one shopper that buys a category from the same retailer, in any situation.
Generating demand is different for each type of retailer. This is impacted by how often retailers see the same shopper in their virtual or brick-and-mortar store and depends on the categories they sell. For instance, according to GfK research, close to 90% of consumers in Great Britain go grocery shopping at least once a week. In contrast, about 70% of people shop less than once per month for tech and durables products.
Understanding multiple shopping patterns and consumer motivations per category will impact which products to stock, which pricing and promotions strategies to pursue, and how to position marketing to draw in new customers. Getting data on shoppers and their purchasing patterns involves:
- Implementing robust data analytics systems — to collect and analyze customer data across various touchpoints.
- Performing shopper and market research — consisting of a range of research methodologies, including surveys, focus groups, and PoS data analysis, shopper research provides vital insights into shopper attitudes, needs, and motivations.
- Partnering with a retail, consumer, and market intelligence firm — either to supplement your research or for consulting support determining retail strategy. Either way, partnering with experienced firms is a valuable strategy for gaining a complete picture of shoppers.