book

Know Your Shoppers (Collection)

Name: Know Your Shoppers (Collection)
ISBN: 9780133577686

by Herb Sorensen, Richard Hammond

August 2013

Beginner

497 pages

11h 3m

English

Pearson

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About This eBook
Title Page
Copyright Page
Contents
Inside the Mind of the Shopper: The Science of Retailing
Copyright Page
Dedication
Praise for Inside the Mind of the Shopper
Author’s Notes and Acknowledgments
About the AuthorPreface Rethinking RetailIntroduction Twenty Million Opportunities to BuyTwenty Million Seconds: Shopper Time Is Mostly WastedTime Is Money: Shopper Seconds per DollarLeaving Money in the Aisles: The $80 Million QuestionPlanning Our TripShopping SerengetiEndnotes
PART I: Active Retailing

1. The Quick Trip: Eighty Percent of Shopper Time Is Wasted
Three Shoppers: Quick Trip, Fill-In, and Stock-UpRise of the Small StorePerils of PromotionThe Big Head and Long TailHeads You WinThe Communal PantryLayered MerchandisingThe Right Paths for the Right ShoppersPurchase Modes and Selection ParadigmSpending FasterConclusion: Dual ChaosEndnotes
2. Three Moments of Truth and Three Currencies
Moments of TruthSeeing the Truth: Eyes Are Windows to the ShopperReach: Impressions and ExposuresStopping Power (and Holding Power)Closing PowerThree Currencies of Shopping: Money, Time, and AngstA Complex OptimizationEndnotes
3. In-Store Migration Patterns: Where Shoppers Go and What They Do
If You Stock It, They Will ComeUnderstanding Shopper BehaviorFirst Impressions: The EntranceShopper Direction: Elephant HerdsThe Checkout MagnetProducts Hardly Ever Dictate Shopper Traffic—Open Space DoesManaging the Two StoresFive Store DesignsWhere the Rubber Meets the LinoleumEndnotes
4. Active Retailing: Putting Products into the Path of Shoppers
Active RetailingPut the Right Products in the Path of CustomersDouble Conversion™: Converting Visitors to Shoppers to BuyersPackaging Must Play the Starring RoleHolding Power—How Long Is Long Enough?Stopping and Closing Power: VitalQuadrant™ AnalysisPlaying the NicheGood Is the Enemy of the GreatEndnotes
5. Brands, Retailers, and Shoppers: Why the Long Tail Is Wagging the Dog
Where the Money Is in RetailMassive Amounts of DataShifting RelationshipsA Refreshing Change: Working Together to Sweeten SalesBeyond Category ManagementA New Era of Active Retailing: Total Store ManagementPitching a Category’s Emotional Tone More PreciselyRetailers Control ReachThe Urgent Need for Retailing EvolutionEndnotes
PART II: Going Deeper into the Shopper’s Mind
6. The Quick-Trip Paradox: An Interview with Unilever’s Mike Twitty
How do you define a quick trip?Why do shoppers make so many quick trips?What factors do consumers consider in deciding where and how to shop?How do consumers think about shopping trips?What did you learn from this research?How could it be that even warehouse clubs and supercenters—whose design so strongly encourages stock-up shopping—receive more quick trips than stock-up or fill-in trips?Given that quick trips account for two-thirds of shopping trips, how can retailers and manufacturers cater to these shoppers?What is the Quick-Trip Paradox?Given this paradox, how can retailers and manufacturers capitalize on the quick trip?Could the shoppers’ motives for making the trip offer insights into the best assortment to offer?How can retailers best meet the needs of quick-trip shoppers?What are the implications for retailers and manufacturers?Endnotes
7. Integrating Online and Offline Retailing: An Interview with Professors Peter Fader (The Wharton School) and Wendy Moe (University of Maryland)
How did the Internet change the study of shopping behavior?In what way are the online and offline patterns similar?Studying the Same Shoppers on Different PathsHow are paths in the supermarket similar to paths online?Can online retailers learn from offline shopper behavior?Tell me about what you’ve found out about crowd behavior?What have you learned about licensing and sequencing—such as the purchase of vice items after virtue items?What have you found out about the pace of the shopping trip?What have you learned about shopping momentum?What have you learned about the role of variety in shopping?What have you learned about efficiency? Is it better to allow shoppers to get quickly in and out of the store, or should retailers try to prolong the trip?This raises the question of whether shoppers are in the store for utilitarian reasons alone, or if they are interested in an experience. What is the difference?What have you learned so far about what shoppers are looking for when they go online?How do online retailers use these insights about shopper visits?This captures the whole point of what we’ve called “active retailing.” Online is leading offline in this area. How does this come into the physical store?How do some of the complex forces of shopping behavior play out? Why is there a need for better modeling?What topics are you studying now?Endnotes
8. Multicultural Retailing: An Interview with Emil Morales, Executive Vice President of TNS Multicultural
This book looks at how retailers need to move toward active retailing by anticipating and responding to shoppers’ needs. What does active retailing mean in the context of multicultural marketing?What are some of the challenges facing the multicultural shopper that retailers need to be aware of?What is the significance of the Hispanic segment in U.S. markets?What makes this segment attractive to retailers and manufacturers?How can manufacturers and retailers seize this opportunity?Why do Hispanic customers shop so many channels?Given the popularity of tienditas and other small stores, do U.S. Hispanic shoppers have any interest in larger stores?How does this use of many channels affect the way Hispanic shoppers plan to shop?How does the U.S. Hispanic market react to loyalty cards and other mechanisms to collect customer data?How does culture drive shopping behavior?You mentioned the second aspect of culture, subjective culture. How does this affect shopper behavior?How does the process of acculturation unfold and what do retailers need to know about it?Given the close family relationships in Hispanic culture, how do retailers need to respond?What issues of product selection or packaging do retailers and manufacturers need to address for this segment?How are companies winning with U.S. Hispanic consumers?How successful have manufacturers and retailers been in responding to the opportunity of the U.S. Hispanic market segment?Can you give an example of how a retailer or manufacturer has used an understanding of multicultural marketing and U.S. Hispanic markets to build its business?You’ve focused on Hispanic markets in the U.S. How do these insights apply to other markets?In closing, what would be your top tips for retailers and manufacturers who seek to address multicultural shoppers?Endnotes
9. Insights into Action: A Retailer Responds: An Interview with Mark Heckman of Marsh Supermarkets
What are the most important things to keep in mind when implementing changes in the retail format, such as those described in this book?What have been the results in the stores you’ve redesigned?How are retailers beginning to implement new designs, such as serpentine or inverted perimeter approaches (discussed in Chapter 3)?How do retailers decide whether to take new approaches?In my opinion, what supermarkets are doing is trying what works willy-nilly. You are going to get a lot more tweaking of what works than you are radical departures. What do you think?At Marsh, are you moving in the direction of an inverted store (as discussed in Chapter 3)?How do shoppers react to these new formats?Shoppers will hang in there to learn the new store formats?Are you comfortable with the idea that customers become shoppers only within the walls of the store?You’ve looked a lot at pre-shopping, which we have not considered in the book. How do people decide what store to shop at, and what kind of metrics do you look at outside the store?Can you shed some light on what are the half dozen most important metrics you use?One measure we are using is how many seconds it takes for each store to generate a dollar of sales. They run anywhere from 30 seconds to 120 per dollar. What do you think about this measure?Do you have your own shopper segmentation scheme at Marsh?Are you doing something distinctly to serve quick trippers?Is there a brand/retailer partnership?What shoppers tell us is sometimes a very poor source?I think shoppers would love to spend a lot more money in stores, but they can’t figure out how to do it. I think there’s a huge amount of unfulfilled shopping out there. What do you think?What are you doing with new technologies?
PART III: Conclusions
10. The Internet Goes Shopping
Entering the VideoCart AgeCell Phone InvasionImplications for Retailers and Brand OwnersThe Power of Model MakersThe Model BusinessA Fivefold IncreaseEndnotes
11. Game-Changing Retail: A Manifesto
PART IV: Appendix
Appendix: Views on the World of Shoppers, Retailers, and Brands
Excerpts from “Views from the Hills of Kentucky” by Robert Stevens
Index
Smart Retail: Winning Ideas and Strategies from the Most Successful Retailers in the World
Copyright Page
Dedication Page
Acknowledgments
Photo Acknowledgments
Introduction to this Edition
How to get the best from Smart Retail
Preface—Why retailing?
That there Internet thingAsking the questionsIs it rocket science?Brass tacksStars of the shop floor
Part One—You: Starting at the beginning.
Chapter One. What do you want for yourself?
Action-planning means doing stuffRaw passion makes us great
Chapter Two. Rising above the crowd
Volunteer for thingsIntroduce yourself to people at every meetingMake good use of the ideas program if there is oneGive people your cell phone numberForm an opinionSpecializeProduce the goods
Chapter Three. Keeping it simple
Talk is cheap but it’s worth lots
Chapter Four. Rolling those snowballs
Reading stores the practical way
Part Two—Team: Make us happy and we will make you money.
Chapter Five. What’s the Big Idea?
Differentiation
Chapter Six. How to build great teams
LeadershipWhy bother building a great team?Reasons not to?Service Profit ChainThe three cornerstonesValuesWalking the talkStreet TimeFlight to qualityThe respect dealOwnership—the value of mistakesBehaviorsEasy ways to “do” recognition
Chapter Seven. How to get people out of bed
The components of motivationShow me the money—financial rewardThe stick to your carrot—implied sanctionTreat me like a grown-up—self-respectLet’s have a laugh now—using non-financial rewardsTeam meetings
Chapter Eight. All we need is a little better every time
Gathering improvement ideasStatistics can make you go blind—the measurement trapGo with your gut feelRoom for improvement
Part Three—Customer: Make me happy and I will give you my money.
Chapter Nine. We love shopping here!
Great customer serviceWe need answers on this customer service thingGreat momentsPeople make the difference to great customer experiencesThis year, I pledge my loyaltyFirst-visit advantageThe four rules of performance improvementPrioritiesAdded valueWhat I need—what I want
Chapter Ten. Price and value
Everyday low prices (ELP)Making bargains the starOi! That’s my planet too—the costs of consumption
Chapter Eleven. Promote or die
28 promotions
Chapter Twelve. Marketing for real people
Advertising made simpleMarketing things to make and doEasy ABC database marketingKeeping track—measurement
Part Four—Store: Make it brilliant and they will spend.
The Fundamentals
Chapter Thirteen. Discovery!
Point of discoveryBenefits of building formats around discoveryLinking it all togetherThe different types of discoveryTraditional promotion-led discoveryService-led discoveryProduct-led discoveryFormat-led discovery
Chapter Fourteen. The great big theater of shop
Us, the moles, and the batsFundamentals of retail theaterThe theater of demonstration—why shopping channel presenters are unheralded geniuses
Chapter Fifteen. Detail, detail, detail—the store environment
Look and feelTransition zoneBasketsPromotional hot spotsBack wallCash registerImpulse buysSight-linesSignage
Chapter Sixteen. And finally ... how we got here
The really early daysPlaces of retailDepartment storesThe retail kings
Epilogue—And we’re done?
Further Smart Retail
Appendix I. Your job and Smart Retail
Store managerStore ownerTeam memberAssistant store manager (ASM)Area/regional managerCentral functions (marketing, sales operations, administration, and so on)
Appendix II. Take-action time
Time plan
Appendix III. Street time
What do we do?
Appendix IV. Books for retailers
Index

Content preview from Know Your Shoppers (Collection)

Preface—Why retailing?

One thing that hasn’t changed is that retail is still physically and mentally hard work. The pressure’s always on; we’re only ever as good as our last trading day. Every time we open the store, what follows could be a disaster or a triumph.

And that’s the thrill of the thing, that’s why we do it—get things right, get the team pulling together, make customers happy, and take some money ... well, those are the days that keep us coming back for more. Getting retail right is thrilling—magic, even.

Getting retail right is thrilling—magic, even.

Welcome then to Smart Retail, where together we can try to make sure that you enjoy more good days, better profits, a happier team, an improved business performance, and a boost to ...

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Your Success In the Retail Business (Collection)

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Know Your Shoppers (Collection)

by Herb Sorensen, Richard Hammond

Preface—Why retailing?

Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.