What does it take to make them buy?  Lessons on building retail sales from each generation of customers
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What does it take to make them buy? Lessons on building retail sales from each generation of customers

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This seminar will help attendees understand today’s changing consumer landscape of 2013 and beyond. Delving in to uncover consumer purchasing motivation and shopping patterns by generation, this......

This seminar will help attendees understand today’s changing consumer landscape of 2013 and beyond. Delving in to uncover consumer purchasing motivation and shopping patterns by generation, this session will explore critical business factors including how and why consumers spend money today, how and where consumers “listen” to messages about brands and how your retail business can engage customers more effectively in order to produce and deliver the best products and services in the marketplace.
Walk away with a better understanding of what motivates each generation of consumers to spend money today so that your business can deliver the best in class products to the retailers selling them.

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  • 1. 1 September 17, 2013 What Does It Take To Make Them Buy? Key Lessons on Generating Business by Generation Creative Business Consulting Group www.cbc-group.net The Old Consumer Purchase Funnel Has Become Outdated Creative Business Consulting Group www.cbc-group.net • Learn How Today’s Consumers Shop • What Motivates Each Generation Of Consumers To Spend Money Today • Learn What Your Brand Can Do To Engage These New Consumers More Effectively Seminar Objectives
  • 2. 2 Creative Business Consulting Group www.cbc-group.net Consumers Want To Be Served • Almost 95% of Consumers Do Research Before Shopping; In-Store Experience Validates Research • This Means Consumers Know Which Products And Brands They Need Before They Enter The Store • Associates Must Now Focus on Interactions With Educated Consumers Convenience Creates Shopper Loyalty • Consumers Want A 24/7 Personalized Shopping Experience Tailored To Meet Their Needs And Preferences. Social Media Influences Purchases And Engages Shoppers With Brands • 50% Of Consumers Submit Their Own Comments on Brand SM pages • Consumers Are More Loyal To Brands They Have Engaged With Online (40%) How Does Today’s Consumer Shop? Creative Business Consulting Group www.cbc-group.net How Does Today’s Consumer Shop? Consumers Listen To Their Families And Friends First • Consumers Talk To Relatives And Friends About All Types Of Purchases • They Read Independent Reviews When They Want To Know More About A Product • Only 18% Of Consumers Rely On Retailers And Manufacturers Information To Make Purchase Decisions How Does Your Brand Meet Todays’ Consumers Needs? Creative Business Consulting Group www.cbc-group.net Shopper Motivation Has Changed; Today, It Is Not Always A Social Pursuit
  • 3. 3 Creative Business Consulting Group www.cbc-group.net Purchase Decision Influences Are Different Between Generations Creative Business Consulting Group www.cbc-group.net Purchase Decision Influences Are Different Between Gender Creative Business Consulting Group www.cbc-group.net Shopping Patterns Are Different By Generation – Baby Boomers • Spend Extra Income On Products That Make Them Feel Or Look Younger • More Educated/Informed Shopper • Have Discriminating Tastes --Discern Products/Services Of Higher Quality • Can Be Easily Distracted With Advertising • 80% Are Online • 2/3 Use The Internet For Shopping • 90% Research Products And Services • 13% Of Them Buy Online Only Because They Don’t Like The Service They Receive In Retail Outlets.
  • 4. 4 Creative Business Consulting Group www.cbc-group.net Shopping Patterns Are Different By Generation – Gen X • Independently Minded When Making Purchase Decisions • Conservative, Informed Shoppers; Focused On Price And Quality • Motivated To Search For Purchase- related Information • 37% Buy Brands On Sale (Vs. What They Really Want) • Are Well Prepared For Their Shopping Trips. 69% Make Shopping Lists • Opt For Products That Are Not Only Useful, But Also Functional Creative Business Consulting Group www.cbc-group.net Shopping Patterns Are Different By Generation – Gen Y/Millennial • Skilled At Using Internet tools and Apps To Find The Items They Want To Purchase • Easily Locate The Best Deals Without Sacrificing Quality Or Convenience • Likely To Turn To Their Friends And Family For Opinions • Selects And Consumes Products That Help Them Blending In With The Crowd Or A Certain Group Creative Business Consulting Group www.cbc-group.net Consumers Will “Listen” To Messages About Brands Via Facebook A Majority Of The Time
  • 5. 5 Creative Business Consulting Group www.cbc-group.net Connecting On Consumer Terms Is The Key To Your Marketing Success Customers Want To Stay Updated And Connected With Your Brand On Their Terms And On Sites They Use Daily Creative Business Consulting Group www.cbc-group.net Consumers Listen To Family And Friends For Information About Brands – Just Because Creative Business Consulting Group www.cbc-group.net Consumers Shop At THEIR Most Convenient Channel For Each Purchase Occasion More Than Half Of The Sales From Walmart.com* Are Picked Up At A Walmart Store. *US Only
  • 6. 6 Creative Business Consulting Group www.cbc-group.net Consumers Are Using Mobile Tools For Research And To Make Purchases Source: Comscore, 2012 • 40% Of Smartphone Owners Use Their Phones For In-store Price Comparisons • 4 Out Of 5 Consumers Use Smartphones To Shop • 64% Of Smartphone Owners Are Now Using Their Mobile Devices To Shop Online • Smartphones Will Influence 19 Percent ($689 Billion) Of U.S. Retail Store Sales By 2016* • By 2014, Mobile Internet Is Predicted To Take Over Desktop Internet Usage • Mobile Usage Accounts For 12% Of All Internet Usage Time Creative Business Consulting Group www.cbc-group.net Consumers Have Changed How They Research Products • 93% Of Consumers Are Now Researching Products And Future Purchases Online* • 90% Of Consumers Are Utilizing Search Engines • Half (45.9%) of US online shoppers researched products in-store, only to ultimately buy online* • Consumers Look At 7.9 Different Sources For Product Information BEFORE Making Purchase February 2012 ClickIQ Nearly 50% Of Shoppers Believe They Are Better Informed Than Store Associates. (Source: Motorola, 2013) Creative Business Consulting Group www.cbc-group.net Consumers Have Changed How They Research Products • 93% Of Consumers Are Now Researching Products And Future Purchases Online* • 90% Of Consumers Are Utilizing Search Engines • Half (45.9%) Of US Online Shoppers Researched Products In-store, Only To Ultimately Buy Online* • Nearly 50% Of Shoppers Believe They Are Better Informed Than Store Associates. (Source: Motorola, 2013) February 2012 ClickIQ *Consumers Look At an Average of 7.9 Different Sources For Product Information BEFORE Making Purchase
  • 7. 7 Creative Business Consulting Group www.cbc-group.net What Tools Are Consumers Using For In-Store Research? Google Shopper *BIA/Kelsey Group 2012 • Google Shopper App Is Available For The IPhone And Android Phones • Lets Users Scan Product Barcodes And Compares The Price With Other Listings In Google’s Database • Since This Is A Google Product, Each Listing Features Detailed Descriptions And Reviews, And It Has Directions And Contact Information For Nearby Stores Built Into It • Google Offers Available On the App- People In Select Cities Can Find Promotions Going On Near Them. Creative Business Consulting Group www.cbc-group.net*BIA/Kelsey Group 2012 • Free Price-check App That Lets Users Search By Scanning A Barcode, Snapping A Picture Or Saying Or Typing In The Product Name • Available For IPhone And Android Users On Other Platforms, Including Blackberry And Windows, Can Use The Amazon Mobile App, Which Offers The Same Price-checking Capabilities, But Requires An Extra Click Or Two To Access Them Among Other Features In The App.) • The Catch With Both Amazon Apps, Of Course, Is That They Only Check Prices On Amazon. What Tools Are Consumers Using For In-Store Research? Price Check By Amazon Creative Business Consulting Group www.cbc-group.net2012 Deloitte Retail & Consumer Spending Survey • Shoppers Are Still Seeking Satisfying In- Store Experiences—it’s Just How And When They Decide To Open Their Wallets That Has Changed • 61% Of Smartphone Owners Who Use Devices For Comparison Purposes Have Bought Goods In A Store • Consumer In-store Mobile Activities Add To Rather Than Take Away From, In-store Sales • Smartphone Users Are 14% More Likely To Convert In A Store Than Non-smartphone Users The News Is Not All Bad - Consumers Are Still Looking For Personal Interactions
  • 8. 8 Creative Business Consulting Group www.cbc-group.net How To Turn A Browser Into a Buyer? Merchandising • Creative/Interactive Displays Are Key Advantage To In-store Experience • Optimally Display Products To Enhance Shopping Experience Marketing Programs • Encourage/Incent Shoppers To Buy Immediately • Downloadable QR Codes • Google Shopping Paid Ads • Retailmenot (IPhone App) Offering Coupons • Facebook Offers Location Based Marketing Programs • Offer Programs/Deals That Incent Customers To Make In-store Purchase • Train Your Staff On How To Find These Applications While They Are Working With The Customers To Insure Purchase Conversion Creative Business Consulting Group www.cbc-group.net What Can Your Store Do To Meet Consumer Needs In 2013? Create Brand Advocates Let (Incent) Your Best Customers Spread The Word Via Social Media Use Them As Educated Sales Associates To Create A Referral Network How Do You Ensure They Add Value To Your Brand? • Make Sure They Have The Right Information. Leverage Their Social Shopping Power. • Speak The Same Language (E.G., Are They Talking About You On Twitter? Tweet Back). • Retraining Your Sales Staff To Find These Shoppers And Convert Them Creative Business Consulting Group www.cbc-group.net What Can Your Store Do To Meet Consumer Needs In 2013? Create A Value Based Retail Culture In Your Store • The Store’s Four Walls Have Dissolved. “Showrooming” Is Here To Stay. Pay Anyway You Want Pick Up In-store/Delivery Have Arrived • Determine And Create Programs That Will Add Value For Your Customers • Embracing The Newest Technologies • Enable Wi-fi And Giving Sales Associates Tools That Mimic What Shoppers Use Every Day (Tablets) • Create An Experience That Can’t Be Replicated Online
  • 9. 9 Creative Business Consulting Group www.cbc-group.net It’s Not About What You Do, It’s About What You Offer What Do Brands Need To Do To Stay Emotionally Relevant? • Create/Include Added-value Perks Beyond The Product You Sell • Look For Ways To Be Truly Integrated Into Consumers’ Daily Lives • Showcase How You Can Help Redefine/Refine Who They Are Or How People See Them • Open Up New Opportunities That They Can’t Find On Their Own What Can Your Store Do To Meet Consumer Needs In 2013? Evolve Your Brand To Meet Consumer Needs Creative Business Consulting Group www.cbc-group.net Lynn Switanowski-Barrett is the Founder and President of Creative Business Consulting Group, (CBCG) a Boston based Retail Consulting firm. CBCG Helps Retailers Understand: •Business Opportunities Created By Using Social Media •How to Create Marketing Programs That Engage Customers •The Cost Saving Benefits Of Using Social Media •How to Create A Social Media Strategy for Your Business Call Us Today And Learn How Your Business Can Benefit By Using Social Media 617 – 437- 9191 CBCG Is Here To Help If You Need It Creative Business Consulting Group www.cbc-group.net