On drawing comparisons between the online and offline world, alongside the regularity of last minute versus planned shoppers, a two by two matrix on uncovering four shopping personalities can be deduced. Let’s call it The Timed Shopping Framework, since it can apply to any phase of life when we have to shop with a deadline.
The full length version of this post can be read on: Where does Online Shopping leave Glamorous Window Displays?
Purchasing Power: High. It’s unlikely that these
shoppers will be looking for deals, but are more in a frantic rush to
buy something while multitasking a busy corporate or bustling
alternative life; thus the restraint from going in stores.
Retailer Benefit: Shipping fees. Consumers in this
segment may be blind to free shipping coupons in all the haste, so
retailers can gobble up any margins on those exorbitant overnight fees.
Purchasing Power: Moderate. These shoppers will likely have scouted the deals, almost as early as Black Friday and Thanksgiving.
Being deal hunters, it’s not to say they are budget battlers: rather
the contrary, they are likely to spend in volume. Call them indecisive,
or on the other spectrum, simply smart with a cool variety of friends.
Retailer Benefit: Volume purchase and loyalty. It’s
likely that these shoppers will seek deals with enough prowess to use
coupon codes or minimum purchase requirements to benefit retailers,
either with volume or future loyalty.
Purchasing Power: Moderate. These are traditional
shoppers that would rather drive to the stores come fall, and load up
their trunks and rear seats with less shopping on a periodic basis. And
they never forget the wrapping, bows, cards and frills. These shoppers
either have a sense of detail, or are simply preventing an anxiety attack, as per a former framework.
Retailer Benefit: Traditional store sales, which as we
all know, may not be real value sales, but well marketed ones.
Nonetheless, courtesy of methodical research, retailers should not
expect these consumers to be strong spenders.
Purchasing Power: High. These shoppers have simply had
no time in bustling lives, and tend to leave things to the last minute.
With about half of their preferred selections disappearing off shelves,
they are likely to be struck by anxiety and spend more than they need.
Sans details, they may skip the frills and even ask for gift wrapped
gifts altogether! Just beware that these folks may be struck by stress
more often than not; even in public.
Retailer Benefit: Revenues from last minute shopping.
Retailers can expect high spending from these consumers, with a slight
dose of stress depending on the level of shopper persistence. It will be
easy to entice them with leftover, often non-sale items, or with
Communication & Social Media Research Expert at SKIM, an international
consultancy and marketing research agency, has a background in engineering,
marketing and finance from the University of Pennsylvania, and the Wharton
School and Rotterdam School of Management. Having worked in marketing and
product development at L’Oreal, followed by a stint in management consulting,
he now passionately enjoys the world of social media, and can be found on every
platform with his alias sssourabh. He is a food critic and a fashion writer,
and documents these alongside strategy on his blog called 3FS. He may be reached at firstname.lastname@example.org.
Follow him on @sssourabh.