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Last month, we promised
Answers to 10 Key Questions About Today's Changed
Value Driven Shoppers.
1) ARE
YOU AWARE OF HOW SHOPPERS ARE TRYING TO STRETCH
THEIR DOLLARS? HOW ARE YOU MAKING IT EASIER
FOR THEM TO DO THIS BETTER THAN
COMPETITION?
Today, addressing
"Price" by showing shoppers that you are
trying to help them save money is not just a point
of difference, it's a "necessary given"
- much like "Cleanliness" was years
ago.
Shoppers are buying between 6 and 10 percent
less than they used to and virtually every
purchase decision is being seen through a "lens of
affordability" & with their "antennae
'up.'" The opportunity to make a strong
impression has never been greater - because
shoppers need your help
today.
How strongly shoppers
answer 2 questions determines how well they
believe you are helping them in this area: Do
shoppers believe that you are...
a) trying
to save them money?
b) their
"trusted buying agent" and concerned about the
financial health and welfare of
their family?
Strong
Response: Effective (& Underutilized)
Value Leverage Actions which shoppers believe help
them stretch their dollars: Lowest Total Bill
Emphasis, Pricing Schemes (different from weekly
specials ... must be meaningful & easy; i.e.,
Double/Triple the Difference), Branded TPR
Programs, Private Label Comparisons, Best Value
Items Highlighted in the Store, "Compare"
Signs, Baskets, Displays with..."Why Pay $___; You
Save ___" emphasis. NOTE: Trust is
critical!
2) HOW
HAVE YOU RESPONDED TO THE TOP SHIFTS &
TRENDS ...
...IN
CONSUMER SHOPPING HABITS (Before, During
& After the In
Store
Experience)(** See Side Comments:
"Understanding Women
Shoppers")
...IN PURCHASE PATTERNS &
...IN THE
"WHERE TO SHOP" DECISION DRIVERS YOU CAN
INFLUENCE?
Today's Major Trends
Impacting Retailing:
a) Aging Population
b) Changing Value Equation in a More Value Driven
Retail World
c)
Over-stored Markets - now adjusting
downward
d) Better Time/Money Options for Shoppers
e) Interdependent and Growing World Cultures &
Economies
f) Marketing
Technology Explosion (i.e., Internet, Digital,
Communication, etc.)
g) Growing Impact of Emotions in the "where to
shop"
decision
h) Knowledge Shift to Shoppers
i)
Shifting Consumer Definition of "Necessities" (*
See Side Comments)
STRONG RESPONSE:
Retailers combining shopper needs, GPS,
twittering, sales-predictive analytics, targeting
techniques and technology to help and influence
more profitable shopper behavior. Some
retailers now communicate how to best find, pick,
use, take care of, store, and maximize the life of
different products.
3)
ARE YOU USING THE INTERNET (or other technological
advancements) TO MAKE IT EASIER FOR SHOPPERS TO
VISIT YOUR STORES AT THE BEST TIMES & SELECT
THE BEST DEALS IN THE LEAST AMOUNT OF
TIME?
How does visiting your internet
site help your shoppers BEFORE & AFTER they go
to your stores? These connected shoppers are
using the Internet to bring buying decisions
home. More and more, they are using the
information to make and compare shopping lists
that determine what they will buy and, more
importantly to retailers, where they will shop.
Soon, technology will impact
in-store-decision-making-communication between
retailers and shoppers. Impulse purchases
will become interactive.
STRONG RESPONSE:
Retailers combine their expertise, clout and
knowledge with technology to Help Shoppers Save
Money - & Time.
SAVE
MONEY: Retailers use buying power &
expertise to secure good deals OUTSIDE
of their traditional
core areas to benefit their customers (i.e., Sam's
is now selling
Mitsubishi automobiles at special pricing and
financing
levels).
SAVE
TIME: From any shopping list, print out
the most efficient way to shop the
store - and print out (or
"tweet") money saving product alternatives &
ideas
along the route
(Other Helpful Ideas: providing
healthier alternatives,
gourmet/
higher
quality alternatives, etc.).
Too difficult? One
merchant displayed an ad at the entry of his
stores - with a
red dot placed on each ad item - and the aisle
number marked on the dot
so
customers can
find the item more easily? NOTE: Do you know
who this idea
appeals to most? "Infrequent" shoppers - shoppers
that retailers should be
most
interested
in converting to "loyal" shoppers because these
shoppers are the
ones
least familiar with your stores and most likely to
appreciate this
help.
To Be Continued...
4) Are You Doing All You Can To Help The Good
Health & Well Being Of All Of Your Potential
Shoppers And Their
Families?
5) Are
You Familiar With Changes In Your Shoppers' Lives
That Impact What They Buy In Your Stores, When
They Buy It & What Related Goods &
Services They Are Buying Outside Your
Channels?
6) Outside of "Price," Are You Giving Your
Shoppers A True Value For Shopping At Your
Store?
7) Are You Using New Ways To Communicate
& Listen To All Your Potential
Customers?
8)
In Addition To Helping Potential Shoppers Save
Money - Inside & Outside Of Your Store - Are
You Helping Them Shop Smarter & Do A Better
Job Of Shopping For Their & Their Family's
Benefit?
9)
Are You Using The Most Up-To-Date/Efficient Point
Of Sale & Panel Analytic Techniques to
Motivate Your Shoppers & Modify Their
Behavior?
10)
Are You Providing Any Different Services To Your
Shoppers Since the Recession Changed Their
Shopping Behavior?
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 Around the World of
Retailing: Schusters - Fun in the Land of the
Munchkins (or whatever they're called) - Munich,
Germany
with Chris Ohlinger,
CEO Back to
Top |
Munich: one of my favorite cities. It's
very clean and traditional, but very up to date.
And Munchkins, or whatever they're called, don't
let tradition get in the way of a good time or
their lust for good beer and singing. In fact,
there's more singing in the WCs of the Hofbrauhaus
than in most church choir lofts. And they have fun
in their stores too.
 The best store I visited was a sporting goods
store called Schusters in Marienplatz near the
world famous Glockenspeil. Compared to other
retailers, Schusters is strong in the Rational
"Where to Shop Drivers" (Extremely Strong "Overall
As a Place to Shop" but not as Strong in "Total
Value"...since it's located in one of the most
expensive retail locations in the world) but it is
extraordinarly strong in the Emotional "Where to
Shop Drivers" (Fun & Enjoyable and Consumer
Trust Factors).
This positioning makes it very unique and not
as susceptible to competitive efforts.
Shusters: Man on a
Tightrope
Tightrope
Man
Closeup
 Shusters has been in
business since 1913 which is no small
accomplishment in itself for a merchant in
Germany. I knew there was something special
about this store when I noticed a tightrope walker
about 100+ feet off the ground walking
from one building-top to Schuster. Talk about
extreme retailtainment! And this was
included as one of the features on a radio remote
regularly broadcast from the store.
5 Stories of Colorful
Appeal
The multi-story window treatments not only
allowed huge and inviting window displays on all
floors, but also provided ambient light adding to
the store's bazaar-like and open
feeling.
Outdoor
Displays Leading You Into the Store
Like many of the better stores in Europe, and
especially around Marienplatz, Schusters had glass
enclosed displays featuring its special
merchandise OUTSIDE of the store that led
shoppers, invitingly, through its
doors.
Almost every floor offered,
"1/2-stories" between each floor emphasizing
a store within a store effect, providing clear
department transitions, adding to
the varietyimpact and making the
shopping more consumer friendly.
On every floor, huge flat screen
TV's showed relevant and entertaining action for
that particular sport. They also integrated
the sport's clothing with the equipment which
enhanced the variety impact of each
category.
Bicycle Testing: Next Virtual
Reality Ride
 There seemed to be a WOW!
factor associated with every department. In
cyclery, there was a bicycle testing machine where
you pedalled in place so you could get an idea of
how the bike rode and shifted. The store is
adding a virtual reality component to this
attraction that will give the rider an idea
of how the entire ride would feel with shifting
Alpine scenes, twisting road paths and inclines
necessary for going up the virtual reality Alps
mountain. (Although to me, riding a bike in the
Alps sounded about as appealing as picnicing in
the Sahara. But then I don't wear funny
little tight Bavarian Leder-hosen & funny
looking Alpine Hats like the fun loving
Munchausens do - or whatever they're
called).
Rock
Climbing Wall Entertainment
Another department had a manned 75+ foot rock
climbing wall which was continually busy. Boy,
these fun loving Munchers (or whatever they're
called) know how to try to kill themselves.
Testing Hiking Boots
An interactive attraction for mountain
hikers or climbers offered different surfaces
generally encountered while climbing the Alps. I
considered this group of adventurers the least
mentally developed group of Munsters (or whatever
they're called) since obviously they had not read
the signs about how high, steep and dangerous
these big honker mountains are. Nor did the
Munchables (or whatever they're called) we met in
the Hofbrauhaus know that Hannibal lost ALL but
one of his elephants while climbing the
Alps. On the other hand, several of them
couldn't remember their names either. But they
sure did love to
sing.
Computers
Providing Service &
Information
In the colorfully decorated basement,
Schusters offered 6 computers with accompanying
seats which not only allowed shoppers to ask
questions about the sport they were interested but
also offered a complete book selection including
in depth information about health, wellness and
specific sporting activities. My favorite
book was "How to Fully Recover from Overexertion,
Oxygen Deprivation and Exposure in the
Alps."
Old Fashioned Knowledge:
Books
The store colors were bright and inviting as
was the merchandise. Low display profiles
not only allowed great lines of sight emphasizing
variety but also allowed shoppers to see the
special services, exciting attractions and
wall displays throughout the
store.
The clean sight lines were
also supported by the open "see-through" stairways
in this multi-story store which allowed you to not
only better see one floor's merchandise, but also
to get a glimpse of the variety offered on the
other 4 floors as well.
Even the glass
elevator allowed you to view all of the
departments as you rode up to your chosen
department.
Schusters also offered
excellent related services such as on-premise,
same day racquet stringing capabilities. Of
course, finding flat tennis courts in the Alps is
less likely than finding lite beer in the
Hofbrauhaus.
Creative
Merchandising Everywhere
Different textures of walls and floors gave
this store a very special feel. And very
little of the store was unused for some form of
merchandising or marketing/brand building
communication. They had "floor" displays
which were built completely into the floor and
covered by a clear plastic. Customers could
walk over them, but they couldn't ignore
them.
My silly, feathered Bavarian Alpine
Hat's off to Schusters and the friendly Munchner
(that's what they're called.) What a great fun
place in a great area of the
world.
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Smilers...thoughts to make you smile from
SIRS Back to
Top
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 An armed and hooded robber
bursts into the Bank of Ireland and forces the
tellers to load a sack full of
cash.
On his way out the door with
the loot, one brave Irish customer grabs the hood
and pulls it off revealing the robber's
face.
The robber shoots the guy in the head
without hesitation! He then looks around the
bank to see if anyone else has seen
him.
One of the tellers is looking straight at him
and the robber walks over and calmly shoots him in
the head also. Everyone by now is very scared and
looking down at the floor.
Did anyone else see my face?' calls the
robber. There is a few moments silence then
one elderly Irish gent, looking down, tentatively
raises his hand and says: "I think me wife, over
here, might have caught a
glimpse....."
Merry Christmas & Happy
Hanukkah
May You Have a Bright New Year
and
a Great Big Bird
Too!!!
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Inspirations...thoughts to inspire you from
SIRS Back to
Top
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 HOLIDAY
THOUGHTS
"A journey is best measured in friends
rather than miles"
Tim Cahil
"Never eat more than you
can
lift."
--Miss
Piggy of "The Muppet Show"
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| For more information on
these articles, please email sjobedye@sirsinc.com |
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(**) New
Necessities
Identifying
which categories & items are considered
Luxuries? Necessities? Ultra or Mini Price
Sensitive?
Consumers are
redefin-ing what they view as
"necessities," & how they "value" them.
EXAMPLE: Items like iPhones originally seen as
luxuries but now are necessities to many because
they're critical to how shoppers (especially
Millennials) live, work, play & connect
to the Internet.
At the same
time, these same
Millennials will be "cautious shoppers" for
the rest of their lives because of the lessons
learned in the '09 recession.
(*) Understanding
Women Shoppers
Before,
During
& After
their in-store
Shopping
Experience
NEW FINDINGS
EMERGE ABOUT FEMALE SHOPPERS
How much
time can you save women on shopping related
activities? Women will spend more than eight
years of their lives shopping, says a study of
3,000 women by GE Money.
While
keeping their families fed and clothed the average
woman will shop for an astonishing 25,184 ours and
53 minutes over a period of 63 years.
Choosing What to Wear takes an additional
287 days.
If the average expedition
lasted the length of a full working day - from 9am
to 5pm - that would be 3,148 days trudging around
the shops, or just over eight-and-a-half
years.
The study revealed they make an
average of 301 shopping trips per year, lasting a
total of 399 hours and 46 minutes.
Trips
Time
Food
84 94
hrs
Access-
ories
18 29
hrs
Toilet-
ries
27
17
hrs
Just
Looking
51 48
hrs
Gift
Shop-
ping
19
36 hrs
Women spend
nearly one year deciding what to wear
Choosing outfits for work, nights out, dinner
parties, holidays, gym and other activities means
the average female will spend 287 days searching
for their wardrobe.
The biggest
chunk of that time is used picking a killer
ensemble for Friday or Saturday nights out
or selecting the right clothes for a
holiday.
Related Thoughts
Experts found on average women spend 16
minutes every weekday morning deciding
what to wear and around 14 minutes on a Saturday
or Sunday morning.
A spokesman for
clothes giant Matalan, which compiled the results
after polling 2,491 women, said: "What you wear
has a direct impact on how you feel about
yourself and it is important a woman feels
exceptional in her outfit.
The study
- which was based on an adult lifetime from the
age of 16 to 60 - found most women will spend
around 20 minutes deciding what to wear before
hitting the town on a weekend night.
Week nights out can take up to 20 minutes a
time too.
Deciding on what clothes
to take on holiday uses up to 52 minutes each
time.
While on holiday, ten minutes a
morning will be taken up trying to find an
acceptable outfit with another ten minutes spent
picking evening clothes.
On top of
that dinner parties, Christmas parties and black
tie events - at around 36 minutes a time six times
a year - adds up to three and a half
days.
The study also found on
average women will try on two outfits each morning
before coming to a final decision. And one in two
women spend 15 minutes the night before work
working out what to wear.
This is a lot
of time for retailers to help save women time
before and after their shopping trips - or to
develop services that could make this time more
enjoyable or
productive.
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