Shopping Behavior: Get to know your customers
The way people shop is subject to constant change. But even if the Purchasing behavior changes, the golden rule of customer centricity is irrefutable. For this purpose Companies need to become better at listening carefully to their own customers, learning from feedback and initiating the necessary changes. Because it is also clear that if the Purchasing behavior changes, providers must adapt.
At a time when younger generations in particular are placing more value on freedom, individuality, self-determination and time, the Purchasing behavior. Pandemics, inflation, but also globalization and the battle for the climate are influencing factors. The changes do not occur overnight and can no longer be attributed to individual generations.
What are the actual shopping behaviors?
When you think about the Purchasing behavior of our society, it is also worth taking a look at society per se, or rather its values. Because today, even more than in the past, we don't buy products, we buy what we want to be. With Nike, we buy above all the hope of greater self-esteem, or with Apple, the status as a digital pioneer that stands out from the crowd #thinkdifferent. Or it also works the other way around: we don't buy something because we want to be something. That's why, for example, you can recognize vegetarians directly, because they mention it anyway without being asked. Sometimes they don't even have to, the statements on T-shirts, bags and caps speak for themselves. And there are more and more of them, because the Shopping behavior in the supermarket shows a shift away from (cheap) meat to vegetarian products, sustainably grown. It's not for nothing that people are talking about an organic boom; discount meat is frowned upon.
Time is money
Sustainable products or organic foods are becoming increasingly popular, but no one is willing to drive all the way across town to get them. So people prefer to go to the supermarket around the corner and buy at the meat counter. Today, driving an hour to get a bargain is no longer an option; price is no longer the decisive sales argument. The Retail purchasing behavior is different than it was 10 years ago. Shopping in the pedestrian zone is still popular as a communal experience with friends, but those who simply want to buy new shoes sit down on the couch in the evening with their tablet. It should be quick and easy. Today's consumers, especially in urban areas, expect to click "buy" and receive their online orders within days (and sometimes even hours). Online stores anyway have greater choice and offer the possibility, popular products to configure - which is ideal for the pursuit of individuality.
Retailers are under pressure to move
Of course, two years of pandemic have played into the hands of this development. Who to the Online shoppers has been and has had a good experience, will not necessarily switch back and drift through crowded malls or furniture stores on Saturdays. But at the same time, people have noticed how the stationary trade is missing and what makes it tick. When they visit a store in person, consumers hope for added value that they can't get online. They are looking for personalized, efficient and sustainable shopping experiences. They want expert advice and quick, honest answers to questions. So the pandemic was not the final nail in the coffin for the "retail fossil." However, it must question itself, ask the target group about its expectations and also adapt to our time.
It won't work without digitization
The Shopping behavior of the digital age should also be digital, according to the target group. But not exclusively. Customers are still quite willing to pay for the stationary trade to frequent, but then expect a digital point of sale. They want different ways to pay, such as using a smartphone or instead of the paper-based receipts that still end up in the trash at checkout, a digital alternative. More and more retailers are also turning to the use of artificial intelligence. Product suggestions based on your own purchases have been for some time already a new trend in shopping behavior in Germanybut also worldwide. However, this is not only applicable in e-commerce. Within the scope of the POS marketing customers receive personalized recommendations on their smartphones directly at the checkout. Using Click & Collect, companies can then enable customers to order desired items online at any time and then pick them up at the store of their choice. They don't necessarily need their own online store for this. In this way, they can increase their own sales and gain valuable customer loyalty. POS data the opportunity to get to know your own target group and its requirements even better.
What it needs, however, is a broad presence. A multi-channel strategy that ties in with the omnichannel approach will be retailers' friend. By overlaying channels and platforms, reach can be increased while spreading costs. Analog only is no longer an option. The good thing is that you don't even have to spend a lot of money to do it. A social media account, a newsletter, QR and discount codes combined with offline measures enable every company to interact with its own target group. Putting consumers at the center and developing a strong strategy around them is the key to long-term success.
Want to learn more about digital solutions at the point of sale? Get in touch today Contact us on. We at CLEVERBON are happy to help you make your own company more digital and customer-oriented.