For all retailers, knowing what customers want is essential. We all know this. And yes, sometimes finding out exactly what a customer wants/needs is a challenge in itself – but it isn’t the only challenge. It isn’t so much what you know, but how you use it!
There are a number of ways that retail intelligence can be beneficial:
- Analyze store traffic
- Improve customer experience and build customer loyalty
- Personalize rewards and offers
- Understand buyer behaviour and preferences
For many retailers, understanding buyer behaviour and preferences is the key place to start.
For example, according to the 2014 POPAI Mass Merchant Shopper Engagement Study, over 80% of shopping decisions are made in-store. 80%! That means that people are routinely buying items based on what they see once they are in the aisle. So, how are you using this information?
What about making lists? The same study found that 47% of shoppers make mental lists, and 20% make either a written or a digital list, whereas 34% head to their local supermarket with no list at all! Again, this can also mean great opportunity to attract and entice.
Both of these stats, as powerful as they are, mean nothing if you are not using them. The potential here exists when you use this knowledge and apply it to your own marketing strategy.
Creative Packaging: when a customer heads to the shelf and sees 5 boxes of the same thing, but then one box that stands out, which box will their eye automatically turn to? Creative packaging continually proves to be a major player when it comes to buyer behaviour. The use of colour psychology to create an emotional connection and the use of sustainable packaging to show your concern for the environment are just two examples of the current trends that seem to be making a big impact.
Point of Purchase Displays: Since 82% of decisions are made in-store, why not take your piece of that pie with a POP display that really catches your target’s attention. The use of technology can also be great when it comes to eye-catching in-store displays – garnering not only attention but increasing engagement!
With such stiff competition in the CPG industry, making the most of retail intel can be tough. That being said, sometimes a few changes can make a world of difference. A new creative packaging strategy or POP display design might be just the ticket to capturing those big numbers.
For more about creative packaging that uses consumer data for real results please call Packaging Technologies Inc. today at 1-800-303-5883.