Inside the Mind of the Shopper: The Science of Retailing
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
- 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
- 3. In-Store Migration Patterns: Where Shoppers Go and What They Do
- 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?
- 6. The Quick-Trip Paradox: An Interview with Unilever’s Mike Twitty
- PART III: Conclusions
- PART IV: Appendix
- 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
- Preface—Why retailing?
- Part One—You: Starting at the beginning.
- Part Two—Team: Make us happy and we will make you money.
- Part Three—Customer: Make me happy and I will give you my money.
- Part Four—Store: Make it brilliant and they will spend.
- Epilogue—And we’re done?
- Appendix I. Your job and Smart Retail
- Appendix II. Take-action time
- Appendix IV. Books for retailers
-
No Comment
..................Content has been hidden....................
You can't read the all page of ebook, please click here login for view all page.