How Do Retailers Build Consumer Confidence…Now and In the Future?
Why is one retailer successful and the other one is not? It has to do with economic and demographic influences among others, but especially with insight in consumers’ motives. Providing an adequate response and a clear store concept, both consumer confidence and revenue will increase.
Increasing Revenue and Success, Even in Tough Economic Times
During and after the economic crisis that started in 2008, some supermarkets saw their revenue increase. At the time, consumers were looking where they could buy more groceries for less money. Instead of only visiting expensive high-end supermarkets, they started shopping at discount supermarkets too. Even though the economy has recovered, the attitude towards discount supermarkets has permanently changed. Consumers keep going there, as supermarkets such as Lidl are constantly updating their range of products to meet the current needs of their consumers.
Why Do Consumers Choose a Specific Supermarket?
Next to the aforementioned price-quality ratio, there are other motives to choose a specific supermarket. Its location is important; consumers prefer buying their groceries in a supermarket close to or on their way home. The range of products also plays a role; think of retailers presenting fresh and/or sustainable and organic products, for example. A positive shopping experience also attracts consumers; with attractive displays and in-house bakeries, butchers and fish mongers presenting fresh products. Or excellent customer service and the option to shop online, after which the groceries are delivered to your doorstep or ready for collection at special pick-up points.
Investing in Sustainable Consumer Relations
The retail sector remains a competitive field, that is continuously evolving. How do you gain consumer confidence here? Insight in consumers’ motives is crucial. Does the store’s concept meet their current needs? Retailers can use target marketing campaigns to emphasise their added value and promote positive imaging. Next to that, insight in consumers’ motives also helps in making forecasts. Which direction will consumers take? Will they keep choosing the same products or is their buying behaviour based on trends? Investigating in sustainable consumer relations now means retailers can count on their loyalty and full shopping carts in the future.
Are you inspired by our words and are you curious to know how to reach consumers more effectively? Do not hesitate to get in touch with Wim van den Berg: firstname.lastname@example.org or +31 (0)6 5756 4346.
The sales, marketing and quality control of Prominent tomatoes are handled by Door Partners B.V. This sales subsidiary forms part of the Grower Cooperative DOOR U.A.Return to blogs