For what seems like eons, consumer behavior in relative terms remained largely the same. Through a combination of tv, print advertising, or keeping up with the Joneses, shoppers would decide their wants and needs and visit a physical store to purchase it. They would seek the advice of experienced retail teams, and make astute decisions based on the expert advice they were given. Then came the internet.
Well before COVID-19, many shoppers were making a shift from bricks to clicks, making purchases in a single click, and expecting it to be on their doorstep the next morning. By no means is the high-street finished, it has a crucial part to play, but its role is touch diminished.
In this topical webinar, "The Future of Retail Marketing" brought together a fellowship of astute minds to look at what retailers can do to win in an ever-shifting landscape.
Digital shopping experiences — the new normal
The COVID-19 pandemic has meant that it has been online or nothing in the retail space for some time, and as an unfortunate consequence it seems many may never open their doors again.
The will always be a high-street of course, it may just look a little different, and focus on flagships and retail experiences. As more consumers than ever before move online, and retailers scramble for attention in crowded inboxes, the winners will be those that personalize customer relationships with data-driven offers and messaging.
Connecting with shoppers through data
Nothing is more engaging than a retail brand speaking directly to a customer, however shoppers are more cognizant than ever of the value of their personal and preference data. If retailers want to collect the permissions and data required to connect with shoppers they need to digitize their properties and deliver a palpable valuable exchange.
Rather than guessing, you ask, and if you offer something in return — it can be anything from loyalty points to exclusive access to products, discounts to free content, consumers will share their preference data. Data points like purchase intentions and preferences, accompanying their personal data, to improve personalization and help build up a picture of who they are.
Retail brands can deliver this through interactive experiences that accrue opt-ins and deliver an altogether better experience for the consumer.
Danny is a Content Marketing Manager for Cheetah Digital. Danny has spent his career in disruptive tech start-ups driving content strategy with a current focus on how brands can connect with modern consumers through a philosophy rooted in self-reported preference data. When he’s not extolling the value of zero-party data, he is guaranteed to be out running.