Tag Archives: OmniShopper

Insights Interview: Q&A with Diane Powell, Conagra Brands

We sat down with OmniShopper
speaker Diana Powell who is a Shopper Insights Manager at Conagra Brands, to
discuss how retail is being disrupted.
How has retail been
disrupted?
 
Powell: In the
food industry, traditional grocers are experiencing competition no longer just
from other grocers, but from emerging channels of meal sourcing such as
subscriptions, meal kits, offline and online wholesale/club stores, and
hundreds of new delivery models.  Traditional brick and mortar stores are
having to rethink how they do retail ‘ with more ready-to-go options and
elevating the shopping experience to draw shoppers in.
How has omnichannel
impacted retail positively?
 
Powell: We’ve
been keeping a close eye on ecommerce and how it impacts shopping for
food.  Shoppers view online shopping as complementary to their in-store
experience and most don’t foresee it replacing all in-store.  Shoppers who
are buying groceries in store AND online spend more overall than in-store only
shoppers.
How is this new era
of shopping everywhere impacting shopper insights? 
Powell: We must
be ahead of the digital transformation to keep up with where shoppers
are.  It’s not enough to just send the same old surveys to mobile phones,
but we must find new ways to use cutting age big data to understand online
behaviors that consumers don’t even know they are doing. Also, with the IoT,
behavior and trends change faster than ever, so we need to update research and
findings more frequently as to not lag in our reporting.
Additionally, in the food industry, we’ve also traditionally
spent our time researching women. However, with equal proportions of men
and women millennials doing the grocery shopping, we can’t have blinders to
both genders!
How are shoppers
shaping the future of retail?
Powell: In food
ecommerce, there is a clash between the shopper’s perspective of value and the
retailers when it comes to ecommerce.  Shoppers are used to shopping
online for other categories (electronics, clothing, housewares, cleaning
supplies, etc.) and when they shop online for these products, they are
expecting to get great deals.  They have cost comparison sites and aps at
their fingertips and are quick and savvy deal shoppers.  They apply this
same thinking to their online grocery shopping and expect to find good prices
and deals. 
However, food retailers think that because of the
convenience of online grocery shopping, shoppers should be paying a
premium.  They charge fees for pickup and delivery, charge higher prices
for the same products, don’t integrate as many couponing options, and some even
ask for a tip for the person delivering.  Shoppers are not willing to pay
such a premium (only about $5) and therefore I don’t think we’re seeing the
shift as quickly as it’s happened for other goods.  It will be fascinating
to see how sites like Jet.com and amazon, which are modeled to give shoppers
great prices, will force the traditional brick-and-mortar- e-tailers to step up
their price savings game.
Why is it important
to link digital and physical shopper marketing? 
Powell: Even when
shoppers are in a physical store, they are connected digitally.  Whether
they are using their devices for shopping related activities or not depends on
the minute! A buzz from their purse or pocket triggers a look, a distraction
from the shelf, but also an opportunity to influence.  Of course, we must
be mindful of respecting the shopper’s desires for how often/what we contact
them about ‘ making sure to give the appropriate value exchange customized to
that shopper.
Where do you see retail moving in the next 5 years?
 I’m excited to see a nice balance of the tangible and intangible.  I
think retail shopping will become more immersive, experiential, and
destination-based.  Offering the benefits that are near impossible to
recreate. Perhaps even more analog, more customized. People have a
desire to disconnect sometimes, and to return to the simple. Or on the contrary,
offering high tech in-person experiences that aren’t possible in your own home
is also going to happen.  I’m also excited to see the continuation of the
tech explosion ‘ with voice search leading the way for a lot of cool
innovation.  Deliveries will be faster, subscriptions will grow, and brand
loyalty may make a comeback when shoppers spend more time speaking to their
devices versus searching through.

Don’t miss Powell’s
session, ‘Knowledge
is Power, If You Can Find It!’
on June 20th at 3:40 PM in
Minneapolis, MN. Use code OMNI17BL for $100 off the current rate:
https://goo.gl/XY25DW

4 Best Practices for Optimizing Packaging for E-Commerce

This post
was originally published on PRS IN VIVO’s blog.

How a new design system is introduced in market can
significantly influence sales.  Here are four ‘best practices for
minimizing risk:
1. Foster Brand
Recognition (via Visual Continuity)

First and foremost, shoppers are looking for reassurance
that they are buying the same product (online) that they know/trust from the
‘brick-and-mortar’ store.  So while pack images may be simplified for Web
‘thumbnails,’ it is important that they retain the brand’s core visual equities
and appearance.
2. Ensure High-Quality
& Informative Visuals

Simply put, some packages ‘ particularly white packs and/or
those that rely on foil, holograms and other tactile elements ‘ do not always
translate well to e-commerce environments and need refinements.  In
addition, a range of images (primary vs. secondary packaging, etc.) may be
necessary to illustrate the functionality and benefits of new packaging
formats.
3. Clearly
Convey/Reassure on Quantity

In the digital context, size impressions can be very
misleading.  Therefore, it is very important to provide clear reassurance
on pack sizing and quantity, particularly to highlight larger sizes.
4. Leverage
Digital Capabilities to Illustrate/Inform 

Perhaps most importantly, the e-commerce context provides
opportunities to inform/educate shoppers that are typically unavailable in
physical environments.  For example, one click can provide a clear explanation
of a full product line, helping shoppers find the right product for their needs
‘ or link to a video illustrate use of a new product.
For more information
about adopting packaging for e-commerce, please read this article here
Or contact PRS IN VIVO to
learn more about our research on the intersection of digital and physical
shopping.

Meet the Powerful Women Driving the Future of Customer Insights

TMRE: The Market Research Event and OmniShopper have some
exciting news to share’
Not only is TMRE partnering with WiRE (Women in Research)
for the first annual TMRE/WiRE Women in Research Award to celebrate some true
rock-star researchers, but we’re happy to share a preliminary list of powerful
women in insights confirmed to take the stage at both the TMRE and OmniShopper 2017
events.

Check out the inspiring women speaking at TMRE 2017:


??        
Dawn Cunningham, Chief Insights Officer, 3M
??        
Amber Case, Cyborg Anthropologist, Author, Calm
Technology
??        
Cole Nussbaum Knaffic, Founder, Storytelling
with Data
??        
Kristin Luck, Founder, WiRE: Women in Research
??        
Marina Kosten, VP Research – International
Theatrical, 20th Century Fox
??        
Elizabeth Merrick May, Head of Customer
Insights, Nest
??        
Christina Jenkins, Director, Global Business
Marketing, North America, Twitter
??        
Anna Fieler, Chief Marketing Officer, Popsugar
??        
Lisa Courtade, Head of Market Research, Merck
??        
Judy Melanson, SVP, Travel & Entertainment,
Chadwick Martin Bailey
??        
Amanda Hill, Chief Marketing Officer, A+E
Networks
??        
Margo Arton, Director of Ad Effectiveness
Research, Buzzfeed
??        
Lauren Zweifler, Senior Vice President
,Strategic Insights & Research, NBCUniversal
??        
Terrae Schroeder, Senior Director, Wholesome
& Shopper Insights, NA Snacks, Kellogg
??        
Theresa Pepe, VP of Research, Viacom
??        
Sarita Bhagwat, Vice President, Market
Intelligence, Fidelity Investments
??        
Julie Brown, President, The Center for Strategy
Research
??        
Lori Tarabeck, Global Market Insights, Abbott
Diabetes Care
??        
Renata Polcicio, Vice President, Fan and Media
Intelligence, International, Global Markets, ESPN
??        
Jennifer Avery, Director, Consumer Insights,
Universal Orlando Resort
??        
Sara Fahim, Senior Research & Innovation
Consultant, Seek Company
??        
Tiffany Sanders, Business Intelligence &
Research, CBS
??        
Emily Akinson, Insights & Planning, Consumer
& Market Insights, Kellogg
??        
Mary Beth Jowers, Consumer Insights Lead for
North, Central and Eastern Europe, Gruppo Campari
??        
Stephanie Cunningham, Senior Manager, Customer
Insights & Analytics, eBay
??        
Lina Roncancio, Insights & Innovation
Director, Discovery Communications Latin America
??        
Michelle Gansle, Director, Consumer & Market
Insights, Wm. Wrigley Jr. Company
??        
Karin Kricorian, Director, Management Science
and Integration, Disney
??        
Sarah Beachler, Director, Market Research &
Client Insights, Sephora
??        
Beth Coleman, SVP Marketing and Partner
Insights, Viacom
??        
Samantha Dawkins, Vice President, Client
Strategy & Advocacy, ADP
??        
Gabriela McCoy, Director of Global Consumer
Insights, Bacardi
??        
Kassie Deng, Director, Marketing & Partner
Insights, Viacom
??        
Lyndsey Albertson, Director of Sales Research,
ABC
??        
Maria Cristina Antonio, Director, Metabolic
Insights & Analytics, Novo Nordisk
??        
Julia Oswald, Senior Vice President, Strategy
& Insights, Domino’s Pizza
??        
Carley Metsker, Vice President, Client Service,
Directions Research
??        
Monika Mandrakas, Market Researcher &
Customer Advocate, Mutual of Omaha
View the TMRE brochure
for a full list of speakers:
https://goo.gl/1Ricj2
Check out the inspiring women speaking at OmniShopper 2017:

??        
Shopper Marketing Activations: Marketing &
Merchandising: J Lynn Martinez, Vice President & Team Lead Kroger, Dr
Pepper Snapple Group
??        
Customer Experience Design: How Research &
Design Collaborate to Build New and Differentiated Experiences: Kate Kompelien,
Customer Experience – Center for Excellence for Research & Strategy, Best
Buy
??        
Omnichannel Customer Analysis: Lakshmi
Venkataramari, Senior Director, Customer Insights & Analytics, Walmart
eCommerce
??        
Winning in Her Purse: Kelley Styring, Principal,
InsightFarm
??        
Knowledge is Power, If You Can Find It: Ashley
Starke & Diana Powell, Manager, Shopper Insights, ConAgra Foods
??        
Team Structure Doesn’t Matter: Sue Butler, Director
of Omnichannel Insights, Walmart
??        
Going Beyond Behavior to Drive Category Growth:
Monica Melichar, Senior Manager, Consumer Insights, Beam Suntory & Erin
Barber, Senior Vice President, C+R Research
??        
Longitudinal Data & the Low Purchase
Frequency Category: Stacy Carty, Shopper Insights, Samsung
??        
Driving Change While Driving the Business:
Improving Tools & Automation: Theresa Hendrickson, Director, eCommerce
Engineering – Business Tools & Processes, Best Buy
View the OmniShopper
Brochure for a full list of speakers: https://goo.gl/Qw8Juo
Use exclusive
LinkedIn discount code TMRE17LI for $100 off the current rate. Buy tickets to
TMRE now:
https://goo.gl/1Ricj2
Use exclusive
LinkedIn discount code OMNI17LI for $100 off the current rate. Buy tickets to
OmniShopper now:
https://goo.gl/Qw8Juo
Also, don’t miss our
upcoming free webinar ‘Storytelling with Data’ http://bit.ly/2o0bpAS
featuring speakers Kelsy Saulsbury, Manager, Consumer Insight & Analytics,
Schwan’s Shared Services, LLC and Bill Greenwald, Founder and Chief
Neuroleaderologist, Windsor Leadership Group, LLC. 
Driving the value of
insights forward requires much more than just unearthing great data. You need
to use that data to tell a story and command influence across the broader
organization. Because storytelling may not be an inherent skill, this webinar
focuses on how to use data to create an engaging, informative, compelling
story.  Register for the webinar here:
http://bit.ly/2o0bpAS
Cheers,
The TMRE & OmniShopper Teams
@TMRE
@OmniShopper

How the Internet of Things is changing the face of retail

By: Ali Newton

This article was originally published on SmallBusiness.co.uk

There hasn’t been an advancement in retail as drastic as the
IoT revolution since the Industrial Revolution. The Internet of Things (IoT) is
the idea that everyday objects can be connected in the same way that computers
are today. And, with consumer adoption of IoT devices on the rise, now is the
perfect time for retailers to get informed and capitalize on the IoT.
Whether it is to improve their overall customer experience,
or to create new revenue streams, the IoT truly is changing the face of retail.
Here are three ways the IoT could be integrated into every aspect of retail ‘
from store displays, to storage equipment, to the shop floor.
1. Smart shelves
Panasonic is currently developing a product called the Powershelf. These shelves
have built-in sensor technology that keeps track of inventory in real-time,
saving businesses thousands of pounds in paid hours that they could reinvest elsewhere.
However, Powershelves also have the potential to be
extremely useful on shop floors, as they can collect data about shoppers based
on the products that they have chosen. In addition, these shelves give
customers real-time prices that are based on demand. The shelf labels are
wireless and can update prices based on the quantities that are left. The
shelves can also detect when the products are about to go out of date, and
alter the price according to this information too.
Jobs like stock counting, market research and stock
replenishment can take human workers hours. Alternatively, they could be
automatically performed by Powershelves talking to each other via the IoT.
2. In-store beacon tech

In-store beacons were set to become very popular for a
while, but they haven’t quite caught on as previously anticipated. Beacons rely
on customers coming within proximity of a shop, at which point they can be sent
a message or an email to encourage them to come into the store ‘ provided that
the shop already has their contact details.
Still, it’s a solid idea in principle. A ’10 per cent
offer when you buy today’ push notification could be sent to the consumers’
mobiles as an incentive to lure them into a shop if they’re nearby.
The issue with beacon technology is that it relies on Bluetooth,
which many consumers don’t have switched on as it is known to drain battery
power. In addition, customers usually need to have the brand’s app downloaded
too. This places several obstacles in the way of the retailer before it can
contact the customer directly.
Despite these obstacles, many brands are using proximity marketing to help drive their retail sales.
3. Smart shopping carts and cashless stores
IoT is a powerful tool for brick and mortar shops to compete
with eCommerce stores that are taking over the retail world. Walmart recently
began to develop shopping carts that can drive themselves to help customers
find their way around its shops. It is also working on a technology that allows
customers to order online and get their shopping delivered by a driverless cart
directly to their car, or Uber, in the car park.
Similarly, Amazon’s Seattle shop has no checkouts. Customers
simply enter the shop, pick up the items they need off the store display, and
leave. Sensors around the shop record the items that customers pick up,
removing the need for them to check out.
Whether or not any of these ideas will become an integral
part of retail’s future remains to be seen. Predicting the future is always
difficult and businesses and individuals are right to be skeptical of anyone
telling them that the future is going to be radically different because of the
IoT.

However, just because people should be skeptical about the
idea that the IoT may change retail entirely, it doesn’t mean that they should
write the idea off altogether. One IoT development is unlikely to change retail
on its own, but as more of these technologies enter the market and they become
more affordable, a greater impact will begin to be seen throughout retail.

Is Amazon in the Room?

By: Laura Sigman

This post was
originally published on the LightSpeed Research blog.

On a recent
earnings call
, Sir Martin Sorrell, CEO of Lightspeed’s parent company WPP, talked
about what keeps him up at night. And no; it’s not (necessarily) his infant
daughter ‘ it’s Amazon.
‘And I would just mention the rise of Amazon, because in
answer to the question, my favorite question is what worries you when you go to
bed at night and when you wake up in the morning. It’s not a three-month-old
child (laughter), it’s Amazon, which is a child still, but not three months.
And Amazon’s penetration of most areas is frightening, if not terrifying to
some, and I think there is a battle brewing between Google and Amazon.’
The fear mostly seems to be of the unknown, as Amazon is
thought to be quietly
pursuing an advertising strategy
 carefully away from the watchful eyes
of Wall
Street
.
Is Amazon really committed? They are by pure virtue of their
strategically evolving business model. By being among the first big players on
the e-commerce scene, they cemented their early adapter consumers to them.
They’ve grown a multimedia offer around their core competency, and now Amazon
knows not only what we read, but what we search for, what we buy, what we
watch, what we listen to. I’m an Amazon Prime customer, and I take advantage of
all of the bells and whistles that come along with it. So they know what
content I’m engaging with, and whether I’m connecting to the content from my
PC, smartphone, tablet or Alexa. And they can leverage this vast supply of
shopper and behavioral data to sell hyper-targeted advertising to brands who
can then speak directly to me.
When you look at it like that, it’s really not much
different than how we’ve worked in the panel world. Historically, we have facilitated
the conversations brands have with consumers, and have evolved by taking
advantage of emerging technologies to help amplify those conversations. And,
like Amazon, we grew our business by embracing early on that panelists
(consumers) are people, too. 
(Believe it or not, it’s not as obvious to
everyone as that sounds!) Today’s consumers want to have meaningful
interactions, but they also want to have them when and where is convenient to
them. So we meet them on their devices of choice; we always design surveys
mobile-first (in fact, Lightspeed has an
entire team dedicated to this
) and we use
data appends
 to reach the right consumer with the right questions. We
invite survey respondents to answer open-ends with video
responses
 ‘ an engaging experience for them resulting in more
meaningful data for brands to act on. We’re able to blur the line between quant
and qual, intercepting surveys with invites to participate in deeper, on-point
conversations. And brands can leverage all of this to create hyper-targeted
advertising that speaks directly to their consumers. Which ties back to that
Amazon example I shared above.
As Kantar pointed out at their FragmentNation
event
, the marketplace is splintering — not with a whimper but with a
bang. So while the ad world should fear the Amazon in the room, it should also
embrace it. It’s an eye-opening reminder that consumers are advertising’s most
valuable assets in a marketplace that is more diverse and fragmented than ever.

Must See Talks from KNect365′s Spring Insights 2017 Events

From former gang leaders, to cyborg anthropologists, to
biomimicry experts- KNect365′s Must See Talks will challenge you to look at
problems in a whole new way and become an ignitor of change for your organization.
‘The Centrality of a Detailed Understanding of your
Audience’ ‘ Haile Owusu, Chief Data Scientist, Mashable
Marketing Analytics & Data Science
April 3-5, 2017
San Francisco, CA
Use code MADS17LI for $100 off.
Buy tickets to see Haile: https://goo.gl/YqXZdx
‘The Consumer Influence ‘ and Impact ‘ of Virtual
Reality’ ‘ Jeremy Bailenson, Founding Director of Stanford University’s Virtual
Human Interaction Lab at Stanford University
TMRE in Focus
May 1-3, 2017
Chicago, IL
Use code FOCUS17LI for $100 off.
Buy tickets to see Jeremy: https://goo.gl/c2UdIv
‘Originals: How Non-Conformists Rule the World’ ‘ Adam
Grant, Professor, Author of Give and Take and Originals at The Wharton School
of Business at the University of Pennsylvania
OmniShopper
June 20-22, 2017
Minneapolis, MN
Use code OMNI17LI for $100 off.
Buy tickets to see Adam: https://goo.gl/oUB85g
‘Underdogs, Misfits
& the Art of Battling Giants’ ‘ Malcom Gladwell, Best-Selling Author of
Outliers, The Tipping Point and David & Goliath
TMRE: The Market Research Event
October 22-25, 2017
Orlando, FL
Use code TMRE17LI for $100 off.
Buy tickets to see
Malcom:
https://goo.gl/gM7Dtv
We hope to see you this
spring!
Cheers,

The KNect 365 Event Team

Using Geofencing to Observe Shopper Behavior

This post was originally published on the Research Now blog.

It is widely discussed that mobile opens up incredible
opportunities for researchers. It is perhaps equally widely discussed that
mobile provides challenges for researchers ‘ especially those most reticent to
part with, let’s say, more traditional approaches. I could think of a number of
examples of this two-sided coin, but I’ll leave all of those, save one, for
future discussions.

One that the industry needs to tackle head on is the use of
geolocation for understanding shopper behavior. So much opportunity! But
logistics and analysis is so hard (for many rooted in market research)! The
notion of using geolocation itself for research is no longer new. Geofencing
has been used to target people for research for several years ‘ with the most
commonly used methodologies centered around delivering a survey to someone when
they are in a specific location or after they have left. In many cases this is
a viable approach to understanding shoppers ‘ and getting feedback close to the
point of experience.
Personally, I’m a fan of targeted and efficient research
engagements that ask people to recall their shopping behaviors before they
forget them. But I am also a fan of not having to ask what we don’t really need
to ask, for example who they are, where they shopped, and when. With this idea
in mind, and wanting to piggyback on prior years of researching Americans’
Black Friday shopping habits, we looked to explore how geofencing could be
effectively utilized to understand shoppers with minimal active engagement from
them. So, last Fall, we brainstormed with Placecast and their savvy team of
location-focused researchers on how we could shed new light onto shopping
behaviors around this critical time period for retailers.
While we did end up asking some questions directly of people,
we managed to glean a lot by matching our panelists’ location data with
existing profiling attributes. We discovered, for example, that the most
affluent Walmart shoppers came to the store on Black Friday when compared to
days leading up to and following that day.

The most affluent shoppers also proved to shop early in the
morning in the days immediately prior to and following Black Friday.
Understanding who shops where and when is crucial
to retailers and advertisers as they try to craft relevant messaging and
promotions for holiday sales. Combining geolocation data and associated
advanced analytics with known profiling attributes creates a compelling story
about shopper behavior, one that can be layered with surveys and other data
sources to provide actionable insights.

The industry has an opportunity here ‘ to use geolocation
data in a smart way and one that alleviates much of the survey burden often
placed on participants.

The OmniShopper 2017 Full Keynote Lineup

You’ve already heard about some of the biggest changes we’ve
made to OmniShopper for 2017 ‘ moving the
event to June, away from your summer vacations and changing the location to
Minneapolis, home of the Mall of America, the retail mecca.
But, what you may not have heard about yet is the FULL
keynote lineup ‘ it’s completely different from what you’ve seen before.
Covering everything from marketing in the Trump era, the future of retail, the
human side of selling, data informed design and more:
??        
Originals: How Non-Conformists Rule the World
Adam Grant, Professor, The Wharton School of Business at the University of
Pennsylvania, Author, Give and Take and Originals
??        
Marketing in the Trump Age: New Rules for a New
Reality
Peter Horst, Former Chief Marketing Officer, The Hershey Company
??        
Digital Humanism & Recoding Culture: Moving
Toward the End of Demographics, Evolution of
??        
Psychographics and the Rise of the Individual
Edwin Wong, VP Research & Insights, Buzzfeed
??        
CX Sells: How to Win with the Human Side of
Selling at Brick & Mortar
Bridget Brennan, CEO, Female Factor, Author, Why She Buys
??        
Moments Matter… Make Yours Iconic
Soon Yu, Former Global Vice President of Innovation, VF Corp, Author, Iconic
Advantage
??        
Data Informed Design: How the Evolution of Data
Science Has Permeated into Product Vision & Design
Charlie Burgoyne, Principal Director of Data Science, Frog Design
??        
Winning in Her Purse: How the Rise of Technology
has Caused Far-Reaching Disruption Even in the Most Ubiquitous Fashion and Life
Accessory
Kelley Styring, Principal, InsightFarm
??        
Panel: Shaping the Future of Retail with
Science, Technology & Consumers
Lakshmi Venkataramani, Senior Director,
Customer Insights & Analytics, Walmart eCommerce
J Lynn Martinez, Vice President & Team
Lead Kroger, Dr Pepper Snapple Group
Dr. Duane Varan, Chief Executive Officer,
MediaScience
View the OmniShopper
agenda for full session details:
https://goo.gl/EqFq4h
Use exclusive
LinkedIn discount code OMNI17BL for $100 off the current rate:
https://goo.gl/EqFq4h
Subscribe to our monthly insights newsletter, The Insighter:
http://bit.ly/2m9UIoG
We hope to see you in Minneapolis!
Cheers,
The OmniShopper Team
@OmniShopper

#OmniShopperEvent

The OmniShopper 2017 Brochure is Now Available

It’s Time to Throw the Traditional Shopper “Rule Book’
Out the Window. The OmniShopper 2017 Brochure is Here!
We’ve entered a new era in retail ‘ Shopping Everywhere.
It’s not enough to just sit back and watch, we must evolve our insights &
activation strategies to remain competitive and dominate at retail.
Join the brand & retail leaders who’ve mastered end-to-end
omnichannel strategies to deliver seamless shopper experiences at OmniShopper
2017. Download the brochure: https://goo.gl/rR2V8P
OmniShopper 2017
June 20-22
Minneapolis, MN
Visit the website: https://goo.gl/rR2V8P
??        
35+ Speakers including more retailers than ever
before ‘ Walmart, Best Buy, Stitch Fix, Amazon, Gap and more tba! Plus, we’ve
got former Hershey CMO Peter Horst, Buzzfeed’s VP of Research & Insights
Edwin Wong, and Adam Grant, Author of Originals: How Non-Conformists Move the
World
??        
3 Days with the best in shopper insights,
shopper marketing and category management ‘ over 350 senior executives from
consumer goods manufacturers and retailers
??        
40+ Sessions dedicated to helping you super
charge omnichannel insights, activate shopper marketing and uncover next gen
retail methodologies
Are you excited or what?
Use code OMNI17BL for
$100 off the current rate: Buy tickets here:
https://goo.gl/rR2V8P
We hope you’ll join us in Minneapolis!
Cheers,
The OmniShopper Team
@OmniShopper

#OmniShopperEvent

How Millennials Are Changing Their Relationship to Retail

This post was originally
published on Kelton
Global’s blog
.

Consumers of Generation X age and older grew up as
relatively passive shoppers, able to do little more than recommend a product to
a handful of friends, vent to a salesperson or write a letter to corporate
headquarters. But Millennials have a very different relationship with brands
and companies.

As mass-consumption natives, they see themselves as collaborators
and co-marketers instead of ‘the audience’ or ‘the target.’ They’re ready to
champion their favorite brands online ‘ and equally willing to criticize those
with subpar products or ethics. Digitally savvy and highly entrepreneurial, the
Millennial generation departs from the larger consumer base in a few key ways:
They want you to reflect their values.
According to a recent Pew Research study, fifty-five percent of
Millennials’ believe churches and other religious organizations have a positive
impact in the U.S. (Seventy-three percent thought so in 2010). Indeed, more
than one third of Millennials are
not affiliated with any faith
. So they look to brands instead to represent
their values, with around 81 percent of them expecting brands to be
responsible global citizens.  A 2016 Deloitte Millennial Survey revealed that 87
percent of this demographic don’t consider a company successful on financial
merit alone, but want evidence of corporate social responsibility as well.
Millennials are loyal
supporters 
of companies with strong reputations for CSR. Toms, which
sells shoes, sunglasses and apparel, has been a hit because of its
wide-reaching commitment to charitable causes via the One to One CampaignCuyana, which sells
high quality women’s basics and promotes a simpler lifestyle, is also popular
with Millennials. Through its ‘Lean Closet’ initiative, Cuyana offers consumers
the chance to donate clothes to women in need. Customers are offered a $10
credit towards their next purchase for every donation they make.
They crave simplicity.
According to Accenture, spending by Millennials will grow to $1.4
trillion annually by 2020. But their spending mentality is selective; they have
access to a vast range of goods but are highly conscious of the impact of their
consumption. The mindset has shifted from ‘one of everything’ to ‘only the
essentials’ ‘ and they want to know where those essentials were made, by whom
and with what materials.
They have higher expectations for customized, seamless
service.
Just as there has been a shift from material to experiential spending across
generations, the experiential part of the shopping experience has become
increasingly important for Millennials. Mens clothing retailer Bonobos, which
offers a personalized shopping experience in a showroom setting, has struck a
chord with a younger crowd turned off by the generic, impersonal process of
shopping at traditional brick and mortar retailers like the Gap.
They expect you to listen. And activate, quickly.
Millennials love to challenge brands’ and they know how to
do it well. They’ll keep up the pressure on a company until it amends a problem
in a tangible and authentic way. And if they’re frustrated by the slow pace of
change, they won’t hesitate to disrupt the status quo and start their own
company. Having grown up in the era of Shark Tank & Facebook millionaires,
they are natural entrepreneurs with the information, tools and confidence to do
so.
The attitude of the hip new health insurance company Oscar,
which aims to be transparent and unbureaucratic, sums up Millennial attitudes
perfectly. Its website states: ‘We wanted a better healthcare company. So we
built one.’
Brands take note: Millennials don’t want a story dictated to
them ‘ they want to be part of an evolving, authentic narrative that goes
beyond simple marketing and branding.