World­view of Shop­per Mar­ket­ing

Point of Purchase - - INTERNATIONAL -

Here is an ac­count of how shop­per mar­ket­ing has evolved over the years glob­ally some re­ally in­ter­est­ing as­pects and mile­stones crop up in this piece writ­ten by Daniel To­daro.

We have also seen an evo­lu­tion of the re­tail space it­self – namely, branded dis­plays cre­at­ing a ‘shop in shop’ for­mat. This rep­re­sents a great fo­cus from the re­tailer in terms of recog­nis­ing the power of the as­sets they hold – the ex­pe­ri­ence in-store for their shop­pers not only for their brand but for the brands they stock. There has been a real in­crease in the num­ber of name brands seek­ing stand­out in the re­tail space and pay­ing for this space – par­tic­u­larly in spe­cial­ist con­sumer tech arena re­tail­ers like PC World but also in the ma­jor su­per­mar­ket mul­ti­ples like Tesco. The great­est game changer over re­cent years how­ever, would have to be how brands and con­sumers alike are de­mand­ing ever greater value from their re­tail­ers and sup­pli­ers – of­ten in re­turn for much less. For con­sumers, this may be a com­bi­na­tion of a grow­ing aware­ness of the worth of their per­sonal data to brands and re­tail­ers. This is some­thing which has been ex­ac­er­bated by the pro­lif­er­a­tion of price com­par­i­son sites and dis­count voucher code amal­gam­a­tors fur­ther­ing shop­pers al­ready at home with deal-seek­ing. This power re­ver­sal in terms of brand com­mu­ni­ca­tions will only strengthen as mar­ket­ing chan­nels and tech­nol­ogy in­creases and the in­di­vid­ual’s time and at­ten­tion is spread across ever more gad­gets and de­vices. An­other pow­er­ful fac­tor in this drive to­wards greater value from in­ter­ac­tions for both brands and con­sumers: few will be will­ing to in­vest in large fi­nan­cial out­lays without some guar­an­tee of re­turn. For re­tail­ers this means they are en­coun­ter­ing an ever greater drive to dis­count, cut­ting their own prof­its in the process: in the face of threats from on­line re­tail­ers who lack the over­heads of phys­i­cal store space we have seen many elec­tri­cal re­tail­ers them­selves move to en­tirely dig­i­tal op­er­a­tions, and some – like Best Buy – en­ter the UK mar­ket be­fore sinking. There is lit­tle doubt that times are tough for many. How­ever, in­vest­ment in the re­tail space is proven to pay off, and with re­tail­ers keen to mon­e­tise their space and grow a rev­enue stream, con­sumers open to en­gage­ment and brands seek­ing stand­out, the lo­ca­tion where many still make the bulk of their phys­i­cal sales is the log­i­cal place for all three fac­tors to con­verge. As we have seen, the re­tail en­vi­ron­ment has proven a dy­namic and change­able land­scape over the past decade, shaped by in­no­va­tive brands and em­pow­ered con­sumers. It is likely that the com­ing years will see this be­come ever more marked in the re­tail space, par­tic­u­larly as brands fight against them­selves to en­cour­age re­peat pur­chase and long term cus­tomer brand loy­alty in an ever frag­ment­ing en­vi­ron­ment

- Daniel To­daro

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.