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PART III: Conclusions
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PART III: Conclusions
by Richard Hammond, Herb Sorensen
Know Your Shoppers (Collection)
About This eBook
Title Page
Copyright Page
Contents
Inside the Mind of the Shopper: The Science of Retailing
Copyright Page
Dedication
Praise for Inside the Mind of the Shopper
Author’s Notes and Acknowledgments
About the Author
Preface Rethinking Retail
Introduction Twenty Million Opportunities to Buy
Twenty Million Seconds: Shopper Time Is Mostly Wasted
Time Is Money: Shopper Seconds per Dollar
Leaving Money in the Aisles: The $80 Million Question
Planning Our Trip
Shopping Serengeti
Endnotes
1. The Quick Trip: Eighty Percent of Shopper Time Is Wasted
Three Shoppers: Quick Trip, Fill-In, and Stock-Up
Rise of the Small Store
Perils of Promotion
The Big Head and Long Tail
Heads You Win
The Communal Pantry
Layered Merchandising
The Right Paths for the Right Shoppers
Purchase Modes and Selection Paradigm
Spending Faster
Conclusion: Dual Chaos
Endnotes
2. Three Moments of Truth and Three Currencies
Moments of Truth
Seeing the Truth: Eyes Are Windows to the Shopper
Reach: Impressions and Exposures
Stopping Power (and Holding Power)
Closing Power
Three Currencies of Shopping: Money, Time, and Angst
A Complex Optimization
Endnotes
3. In-Store Migration Patterns: Where Shoppers Go and What They Do
If You Stock It, They Will Come
Understanding Shopper Behavior
First Impressions: The Entrance
Shopper Direction: Elephant Herds
The Checkout Magnet
Products Hardly Ever Dictate Shopper Traffic—Open Space Does
Managing the Two Stores
Five Store Designs
Where the Rubber Meets the Linoleum
Endnotes
4. Active Retailing: Putting Products into the Path of Shoppers
Active Retailing
Put the Right Products in the Path of Customers
Double Conversion™: Converting Visitors to Shoppers to Buyers
Packaging Must Play the Starring Role
Holding Power—How Long Is Long Enough?
Stopping and Closing Power: VitalQuadrant™ Analysis
Playing the Niche
Good Is the Enemy of the Great
Endnotes
5. Brands, Retailers, and Shoppers: Why the Long Tail Is Wagging the Dog
Where the Money Is in Retail
Massive Amounts of Data
Shifting Relationships
A Refreshing Change: Working Together to Sweeten Sales
Beyond Category Management
A New Era of Active Retailing: Total Store Management
Pitching a Category’s Emotional Tone More Precisely
Retailers Control Reach
The Urgent Need for Retailing Evolution
Endnotes
PART II: Going Deeper into the Shopper’s Mind
6. The Quick-Trip Paradox: An Interview with Unilever’s Mike Twitty
How do you define a quick trip?
Why do shoppers make so many quick trips?
What factors do consumers consider in deciding where and how to shop?
How do consumers think about shopping trips?
What did you learn from this research?
How could it be that even warehouse clubs and supercenters—whose design so strongly encourages stock-up shopping—receive more quick trips than stock-up or fill-in trips?
Given that quick trips account for two-thirds of shopping trips, how can retailers and manufacturers cater to these shoppers?
What is the Quick-Trip Paradox?
Given this paradox, how can retailers and manufacturers capitalize on the quick trip?
Could the shoppers’ motives for making the trip offer insights into the best assortment to offer?
How can retailers best meet the needs of quick-trip shoppers?
What are the implications for retailers and manufacturers?
Endnotes
7. Integrating Online and Offline Retailing: An Interview with Professors Peter Fader (The Wharton School) and Wendy Moe (University of Maryland)
How did the Internet change the study of shopping behavior?
In what way are the online and offline patterns similar?
Studying the Same Shoppers on Different Paths
How are paths in the supermarket similar to paths online?
Can online retailers learn from offline shopper behavior?
Tell me about what you’ve found out about crowd behavior?
What have you learned about licensing and sequencing—such as the purchase of vice items after virtue items?
What have you found out about the pace of the shopping trip?
What have you learned about shopping momentum?
What have you learned about the role of variety in shopping?
What have you learned about efficiency? Is it better to allow shoppers to get quickly in and out of the store, or should retailers try to prolong the trip?
This raises the question of whether shoppers are in the store for utilitarian reasons alone, or if they are interested in an experience. What is the difference?
What have you learned so far about what shoppers are looking for when they go online?
How do online retailers use these insights about shopper visits?
This captures the whole point of what we’ve called “active retailing.” Online is leading offline in this area. How does this come into the physical store?
How do some of the complex forces of shopping behavior play out? Why is there a need for better modeling?
What topics are you studying now?
Endnotes
8. Multicultural Retailing: An Interview with Emil Morales, Executive Vice President of TNS Multicultural
This book looks at how retailers need to move toward active retailing by anticipating and responding to shoppers’ needs. What does active retailing mean in the context of multicultural marketing?
What are some of the challenges facing the multicultural shopper that retailers need to be aware of?
What is the significance of the Hispanic segment in U.S. markets?
What makes this segment attractive to retailers and manufacturers?
How can manufacturers and retailers seize this opportunity?
Why do Hispanic customers shop so many channels?
Given the popularity of tienditas and other small stores, do U.S. Hispanic shoppers have any interest in larger stores?
How does this use of many channels affect the way Hispanic shoppers plan to shop?
How does the U.S. Hispanic market react to loyalty cards and other mechanisms to collect customer data?
How does culture drive shopping behavior?
You mentioned the second aspect of culture, subjective culture. How does this affect shopper behavior?
How does the process of acculturation unfold and what do retailers need to know about it?
Given the close family relationships in Hispanic culture, how do retailers need to respond?
What issues of product selection or packaging do retailers and manufacturers need to address for this segment?
How are companies winning with U.S. Hispanic consumers?
How successful have manufacturers and retailers been in responding to the opportunity of the U.S. Hispanic market segment?
Can you give an example of how a retailer or manufacturer has used an understanding of multicultural marketing and U.S. Hispanic markets to build its business?
You’ve focused on Hispanic markets in the U.S. How do these insights apply to other markets?
In closing, what would be your top tips for retailers and manufacturers who seek to address multicultural shoppers?
Endnotes
9. Insights into Action: A Retailer Responds: An Interview with Mark Heckman of Marsh Supermarkets
What are the most important things to keep in mind when implementing changes in the retail format, such as those described in this book?
What have been the results in the stores you’ve redesigned?
How are retailers beginning to implement new designs, such as serpentine or inverted perimeter approaches (discussed in Chapter 3)?
How do retailers decide whether to take new approaches?
In my opinion, what supermarkets are doing is trying what works willy-nilly. You are going to get a lot more tweaking of what works than you are radical departures. What do you think?
At Marsh, are you moving in the direction of an inverted store (as discussed in Chapter 3)?
How do shoppers react to these new formats?
Shoppers will hang in there to learn the new store formats?
Are you comfortable with the idea that customers become shoppers only within the walls of the store?
You’ve looked a lot at pre-shopping, which we have not considered in the book. How do people decide what store to shop at, and what kind of metrics do you look at outside the store?
Can you shed some light on what are the half dozen most important metrics you use?
One measure we are using is how many seconds it takes for each store to generate a dollar of sales. They run anywhere from 30 seconds to 120 per dollar. What do you think about this measure?
Do you have your own shopper segmentation scheme at Marsh?
Are you doing something distinctly to serve quick trippers?
Is there a brand/retailer partnership?
What shoppers tell us is sometimes a very poor source?
I think shoppers would love to spend a lot more money in stores, but they can’t figure out how to do it. I think there’s a huge amount of unfulfilled shopping out there. What do you think?
What are you doing with new technologies?
PART III: Conclusions
10. The Internet Goes Shopping
Entering the VideoCart Age
Cell Phone Invasion
Implications for Retailers and Brand Owners
The Power of Model Makers
The Model Business
A Fivefold Increase
Endnotes
11. Game-Changing Retail: A Manifesto
PART IV: Appendix
Appendix: Views on the World of Shoppers, Retailers, and Brands
Excerpts from “Views from the Hills of Kentucky” by Robert Stevens
Smart Retail: Winning Ideas and Strategies from the Most Successful Retailers in the World
Copyright Page
Dedication Page
Acknowledgments
Photo Acknowledgments
Introduction to this Edition
How to get the best from Smart Retail
Preface—Why retailing?
That there Internet thing
Asking the questions
Is it rocket science?
Brass tacks
Stars of the shop floor
Part One—You: Starting at the beginning.
Chapter One. What do you want for yourself?
Action-planning means doing stuff
Raw passion makes us great
Chapter Two. Rising above the crowd
Volunteer for things
Introduce yourself to people at every meeting
Make good use of the ideas program if there is one
Give people your cell phone number
Form an opinion
Specialize
Produce the goods
Chapter Three. Keeping it simple
Talk is cheap but it’s worth lots
Chapter Four. Rolling those snowballs
Reading stores the practical way
Part Two—Team: Make us happy and we will make you money.
Chapter Five. What’s the Big Idea?
Differentiation
Chapter Six. How to build great teams
Leadership
Why bother building a great team?
Reasons not to?
Service Profit Chain
The three cornerstones
Values
Walking the talk
Street Time
Flight to quality
The respect deal
Ownership—the value of mistakes
Behaviors
Easy ways to “do” recognition
Chapter Seven. How to get people out of bed
The components of motivation
Show me the money—financial reward
The stick to your carrot—implied sanction
Treat me like a grown-up—self-respect
Let’s have a laugh now—using non-financial rewards
Team meetings
Chapter Eight. All we need is a little better every time
Gathering improvement ideas
Statistics can make you go blind—the measurement trap
Go with your gut feel
Room for improvement
Part Three—Customer: Make me happy and I will give you my money.
Chapter Nine. We love shopping here!
Great customer service
We need answers on this customer service thing
Great moments
People make the difference to great customer experiences
This year, I pledge my loyalty
First-visit advantage
The four rules of performance improvement
Priorities
Added value
What I need—what I want
Chapter Ten. Price and value
Everyday low prices (ELP)
Making bargains the star
Oi! That’s my planet too—the costs of consumption
Chapter Eleven. Promote or die
28 promotions
Chapter Twelve. Marketing for real people
Advertising made simple
Marketing things to make and do
Easy ABC database marketing
Keeping track—measurement
Part Four—Store: Make it brilliant and they will spend.
The Fundamentals
Chapter Thirteen. Discovery!
Point of discovery
Benefits of building formats around discovery
Linking it all together
The different types of discovery
Traditional promotion-led discovery
Service-led discovery
Product-led discovery
Format-led discovery
Chapter Fourteen. The great big theater of shop
Us, the moles, and the bats
Fundamentals of retail theater
The theater of demonstration—why shopping channel presenters are unheralded geniuses
Chapter Fifteen. Detail, detail, detail—the store environment
Look and feel
Transition zone
Baskets
Promotional hot spots
Back wall
Cash register
Impulse buys
Sight-lines
Signage
Chapter Sixteen. And finally ... how we got here
The really early days
Places of retail
Department stores
The retail kings
Epilogue—And we’re done?
Further Smart Retail
Appendix I. Your job and Smart Retail
Store manager
Store owner
Team member
Assistant store manager (ASM)
Area/regional manager
Central functions (marketing, sales operations, administration, and so on)
Appendix II. Take-action time
Time plan
Appendix IV. Books for retailers
Search in book...
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Prev
Previous Chapter
9. Insights into Action: A Retailer Responds: An Interview with Mark Heckman of Marsh Supermarkets
Next
Next Chapter
10. The Internet Goes Shopping
PART III
Conclusions
Chapter 10 The Internet Goes Shopping
Chapter 11 Game-Changing Retail: A Manifesto
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