Identifying and understanding consumers

1. Identifying and
Understanding Consumers

2. What Makes Retail Shoppers Tick
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3. Demographics and Lifestyles
 Demographics
 consumer data that
is objective,
quantifiable, easily
identifiable, and
measurable
 Lifestyles
 ways in which
consumers and
families live and
spend time/money
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4. Understanding Consumer Lifestyles:
Social Factors
Lifestyle
Culture
Reference
Groups
Social
Class
Family
Life
Cycle
Time
Utilization
Household
Life
Cycle
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5. Understanding Consumer Lifestyles:
Psychological Factors
Lifestyle
Personality Attitudes
Perceived
Risk
Purchase
Importance
Class
Consciousness
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6. Perceived Risk and Consumers
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7. Three Special Market Segments
 In-Home Shoppers
 Online Shoppers
 Outshoppers
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8. Attitudes Towards Shopping
 Level of shopping enjoyment
 Shopping time
 Shifting feelings about retailing
 Why people buy or not on a shopping trip
 Attitudes by market segment
 Attitudes toward private brands
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9. Top Reasons for Leaving an Apparel
Store Without Buying
 Cannot find an appealing style
 Cannot find the right size
 Nothing fits
 No sales help is available
 Cannot get in and out of the store easily
 Prices are too high
 In-store experience is stressful
 Cannot find a good value
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10. Cross-Shopping
 Shopping for a product category at
more than one retail format during the
year
 Visiting multiple retailers on one
shopping trip
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11. The Consumer Decision Process
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12. Key Factors in the Purchase Act
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13. Types of Consumer Decisions
High
RISK & TIME
Low
Extended
Limited
Routine
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14. Types of Impulse Shopping
 Completely unplanned
 Partially unplanned
 Unplanned substitution
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15. Devising a Target Marketing Strategy
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16. Environmental Factors and Consumers
 State of the economy
 Rate of inflation
 Infrastructure for shopping
 Price wars
 Emergence of new retail formats
 People working at home
 Regulations on shopping
 Changing social values and norms
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