Understanding in-store consumer behaviour to drive digital and physical growth.
Undoubtedly, it’s been a challenging two years for physical retailers. Online sales grew by 46% in 2020, while in-store sales fell by a record 1.9%. A continuing state of uncertainty as the pandemic evolves doesn’t mean declining sales are inevitable. In fact, successful brands are optimising data gathered from shoppers in-store with insights from online consumers, to transform their physical spaces and offer a joined-up and engaging customer experience.
Understanding how consumers are now using the high street, compared to 24 months ago, is vital for brands and retailers looking to enhance consumer experience and ultimately drive growth. We help them to leverage their consumer intelligence to adapt their retail spaces:
Is the physical location right and is it attracting the right customer? Where relevant, we create digital campaigns for brands to bring consumers back in-store and understand the products they need on the shelves. We establish what customers are buying online and why they choose to make the journey in-store. Knowing why your customer will travel out of town to a larger retail space, compared to grabbing an item from a smaller, high street store, is critical to making informed decisions to improve your customers’ experience but also for your retail estate.
Next-gen retail and POSM is one of our leading products. It's a platform that allows brands to understand the impact of what they're doing in the store, including the impact of the POS material that they are surfacing in-store. This directly relates to the wider consumer experience.
The insights we gather in-store enable us to create a better, more intuitive retail experience. The physical retail environment is a communications channel to a captive audience in its own right and can work alongside your digital experience. It's important to consider both channels together, as part of a single customer experience to tie in what you're sending consumers via email, social media, etc., and what you're doing in your above-the-line marketing.
Our next-gen retail and POSM platform delivers efficiencies by enabling brands to optimise the location of POSM, the design of POSM, which products work best with different POSM styles and the offers that you need to display. Ultimately, you can start to really refine the designs of POSM to suit the local demographic needs of consumers. It’s a powerful combination and is a win-win for both brands and customers; the customer has an enhanced experience, the brand is effectively improving the return on investment of their POSM and gaining additional sales, while driving savings at the same time.
Get in touch below to find out how you can use in-store consumer intelligence to improve your POSM and redefine your customers’ experience.