Shopping personas, consumer data, and mastering the customer journey.
Consumer data is one of the most valuable assets you can have as a retailer. With technology and retail converging, understanding everything about your customer is easier than it’s ever been.
With the holiday season just around the corner, it is essential to know how your customers are shopping, what actions they are taking, and even what they are thinking.
THIS WEEK’S HIGHLIGHTS
- 4 different shopping personas to cater to this holiday season.
- How to understand and utilize consumer data to make more sales.
- The Fam…. waiting for podcast
FOOT TRAFFIC INDEX
Here’s a look at last week’s foot traffic compared to the same time last year.
FOOT TRAFFIC TRENDS
Industry insights so you can convert your foot traffic into more sales.
Holiday shopping personas to watch
As we all know, no two shoppers are the same. There are endless shopping personalities and habits that consumers have. Some people wait last minute to buy holiday gifts, while others are constantly buying gifts throughout the year as they find deals.
Before we discuss the best ways to sell to different shopping personas, first we need to understand the different types of personas. First, we have the evergreen shopper. Similar to evergreen trees, evergreen shoppers are around all year finding and stockpiling gifts for when the time to gift arises. When trying to cater an experience for evergreen shoppers, constant nurturing throughout the year is the way to go.
Next, we have the supersaver or deal hunter. These shoppers are most likely to buy between Black Friday and Cyber Monday. Although, with deals being offered earlier and earlier over the past few years, we have seen a slight decline in super-saver shoppers.
Lastly, we have the early bird and last-minute shoppers. As the name implies, these shoppers either jump the gun and shop before sales even start or last-minute who shop when the year-end deals come out swinging. Last year, 70% of shoppers went in-store the week before Christmas Eve to get their last-minute gifts. Conversely, many shoppers remember the nightmare of inventory issues and gifts arriving well after Christmas, which has turned many last-minute shoppers into early birds in hopes of not being the “sorry, your gift is on the way” person.
With the combination of the pandemic causing social distancing, supply issues, and a variety of different shopping personas, the one-day sale is becoming a thing of the past with sales spreading across the year yielding more sales for retailers.
Understanding and utilizing consumer data
Consumer data consists of information about a consumer such as their shopping habits, what products they buy, and how they interact with your company.
By capturing and understanding consumer data, you can cater to shopping experiences that fit their persona and maximize their opportunity to buy.
One of the most basic types of consumer data that you most likely already collect is identity data, which includes a person’s name, gender, contact information, email address, and social media profiles.
The next step of consumer data is descriptive data. This includes purchase patterns, website visits, email opens, and usage rates. The next type of consumer data, behavioral data, combines both identity data and descriptive data. Behavioral data is the actions consumers take, and is found by drilling into the shopping experience to see when consumers shop, how far they scroll on your website, what emails they choose to open vs ignore, and much more.
Lastly, there is qualitative data. While behavioral data looks at what consumers do, qualitative data looks at what retailers think. While that may sound complex to track, it is basically how consumers respond to surveys or reviews by telling you what they thought of their shopping experience.
By combining the four types of consumer data, you can see the full picture of the shopper and what actions are more likely to push them over the buying line.
The Fam
TO BE UPDATED
NOTEWORTHY NEWS
Retail influence: If you want to know where the retail industry is headed, look no further than what the RIS 2021 retail influencers have to say.
Report: 85% of consumers will continue pandemic shopping behaviors this season
Supply and demand: Panic ordering by retailers is making the supply chain crisis ‘even worse’.
Leadership: These 5 people were supposed to save retail. Here’s how they did.
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