Value/Variety/Convenience -- Which Do Consumers Want Most?
By Todd Hale, senior vice president of Consumer & Shopper Insights for Nielsen Consumer Panel Services
Consumers have redefined and redesigned the retail landscape. It is a new frontier, and success will come to manufacturers and retailers who define themselves by who they sell to and how they sell to them -- not by what they sell. Consumers want it all -- value, variety and convenience. Retailer segmentation schemes that include all-outlet shopping dynamics are critical in today's retail environment where more and more formats are competing for the same shopper and shopping dollars. The winners will be those retailers who open up those schemes to the added insights that their manufacturer partners bring to them in understanding how their shoppers buy categories and brands.
Format Frenzy
Today, non-grocery retailers are leveraging the power of food and beverage categories to drive store traffic, build larger baskets and drive shopper loyalty. Grocery retailers have been looking to new store formats, on-site gas pumps, Rx departments, and increased assortment and merchandising support from health & beauty and non-food categories in a similar manner. Opportunities abound, but knowing what strategies to deploy is a matter of how well you understand consumer shopping preferences and how adept you are at appealing to them.
A multi-channel shopper segmentation scheme is detailed in the latest issue of Nielsen's Consumer Insight online newsletter and illustrates how different sets of consumers look at value, variety and convenience in establishing shopping patterns. To view the latest issue, go to www.nielsen.com/consumer_insight.
Consumers have redefined and redesigned the retail landscape. It is a new frontier, and success will come to manufacturers and retailers who define themselves by who they sell to and how they sell to them -- not by what they sell. Consumers want it all -- value, variety and convenience. Retailer segmentation schemes that include all-outlet shopping dynamics are critical in today's retail environment where more and more formats are competing for the same shopper and shopping dollars. The winners will be those retailers who open up those schemes to the added insights that their manufacturer partners bring to them in understanding how their shoppers buy categories and brands.
Format Frenzy
Today, non-grocery retailers are leveraging the power of food and beverage categories to drive store traffic, build larger baskets and drive shopper loyalty. Grocery retailers have been looking to new store formats, on-site gas pumps, Rx departments, and increased assortment and merchandising support from health & beauty and non-food categories in a similar manner. Opportunities abound, but knowing what strategies to deploy is a matter of how well you understand consumer shopping preferences and how adept you are at appealing to them.
A multi-channel shopper segmentation scheme is detailed in the latest issue of Nielsen's Consumer Insight online newsletter and illustrates how different sets of consumers look at value, variety and convenience in establishing shopping patterns. To view the latest issue, go to www.nielsen.com/consumer_insight.