A survey that was put together by Aldata Solution has revealed data that suggests that UK retailers are finally starting to shift their focus away from just promotions and special offers. During and after the recession most consumers were extremely price-focused and competition in the marketplace forced retailers to provide their customers with bigger and better promotions and aggressive in-store POS marketing.
However it seems that some retailers have bucked the trend and many more are changing the way they advertise to the general public. Promotion management changed from the number one investment priority in 2009, fourth in 2010 and ninth in 2011. 36% of the companies interviewed by Aldata Solution wanted to get a full view of their customer’s buying patterns instore, online and using catalogues. The aim of this data-collecting is to understand customers better to then be able to increase their satisfaction of their experience with that brand.
Companies also aim to improve their operations, aim to reduce overstock waste and understock gaps to reduce transport and wastage costs. This should help to manage the flow of goods more effectively, giving consumers what they want, when they want it and without unnecessary wastage. Understanding consumers buying behaviours is one of the best ways to do this to accurately predict the goods that will be bought.
About The SPS Group: We are a retail marketing company that helps brands give their customers the best possible in-store shopping experience so get in touch today if you need help with your in-store marketing.