SymphonyIRI reports that “shopper-centric” retailers perform stronger than those focused more on the products.
SymphonyIRI Group released its latest Times & Trends report, “Shopper Marketing: Every Decision Begins & Ends with the Shopper” for c-store owners to consider.
Amazing products, strong advertising and outstanding stores are useless without shoppers. The shoppers in today’s market demand more personalized, unique products than ever before. They make decisions about all the things they buy, how much they will pay for it and where they will go to get it.
SymphonyIRI advises retailers that c-stores and retail outlets need to recognize returning customers, be it online or in-person. Retailers need to understand the changes in the marketplace that are driving the evolution from product-based business philosophies to shopper-focused strategies.
“To build strong and growing relationships at the individual level, businesses must first transform across all business levels,” said Jim Dippold, senior vice president of consumer and shopper marketing with Symphony IRI. “In this new business model, the primary goal is to engage shoppers to become a valuable asset to the business.”
Dippold said retailers need to focus on selling to the best customers as much as possible throughout time, rather than trying to sell the most products as possible. He said nurturing genuinely loyal shoppers and expanding their purchases will bring your business to the next level.
The report also encourages collaboration between manufacturers and retailers to gain the most loyal customers.
SymphonyIRI plans to offer a free webinar on its report at 11 a.m. June 12. To register for the webinar, hosted by Susan Viamari, editor of Times & Trends, visit www.symphonyiri.com.