Understanding your consumers
This statement does not come with a defined black and white answer. The understanding of consumers will always be a mystery for retailers.
We can gain a deeper understanding of consumers by delving in to consumer behaviour patterns – all of these can reflect from elements of psychology, sociology and marketing:
· Where the consumer buys
· What they buy
· When they buy
· Consumer preference in how they buy
· How experience effects the consumer
There has been a large amount of market research in to these areas however every retailer attracts different consumers so it is important that this analysis is carried out individually for your business.
Patrick O’Brien (Content Director, GlobalData Retail) will be opening this year’s event with an exploration in to the future of consumer behaviour whilst analysing trends and exploring ways to manage the unpredictable nature of consumers. We can easily analyse the trends that have happened or are happening however it is ten times as tricky to predict and make understanding of the future trends or specific trends that will lead on the shape society.
Who would have guessed the importance the internet would have for retailers and consumers? This is just one point in time that spiked a revolutionary change in consumer behaviour. The next generation consumer is living in this digital age where they are constantly surrounded by marketing and they have been opened up to different pathways. Do you even need a store anymore? The millennials consumer for example, wants to engage with brands on social networks and in many cases use multiple technology devices. Social media is highly important in the influencing process of this generation as this is their number one for information, falling behind traditional methods of advertising and marketing.
Join us for our 2017 Customer Satisfaction Awards and Conference to learn more about consumer behaviour and the connection this has with your businesses performance.