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The recent history of shopping has been defined by decade-long periods of dynamic change. The ’80s were the decade of the mall, with the explosion of malls being built, resulting in shoppers flocking to these new centers of retail. The ’90s were the decade of the discounters, as Wal-Mart rolled out their discount shopping experience from their base in the heartland to both coasts and many other discounters, Target and Kohl’s among them, following suit. The first decade of the new millennium is the decade of ...
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The recent history of shopping has been defined by decade-long periods of dynamic change. The ’80s were the decade of the mall, with the explosion of malls being built, resulting in shoppers flocking to these new centers of retail. The ’90s were the decade of the discounters, as Wal-Mart rolled out their discount shopping experience from their base in the heartland to both coasts and many other discounters, Target and Kohl’s among them, following suit. The first decade of the new millennium is the decade of luxury, with retailers offering an expanded range of traditional heritage brand luxury to the “classes,” and retailers serving the mass market offering up new, more affordable versions of luxury for the “masses.” We are now into the second half of that decade and the logical question is “What’s next?”
Shopping will answer this question using the three tools that give marketers and retailers “future vision” – as discovered by Pam Danziger, president of marketing consulting and research firm Unity Marketing.
Posted May 5, 2009
Everything about shopping has changed.
Take it from Pamela N. Danziger, a dedicated power shopper and author.
According to Danziger, "shops that pop" are stores that have a set of unique identifying characteristics that make people love to shop in them.
In part one of her book, Danziger explains the role of the consumer in this new paradigm, which is all about the experience.
"Shoppers don't love a store because they love the merchandise they carry," Danziger says. "They love a store because it touches them personally and emotionally."
A marketing researcher and self-proclaimed passionate shopper, Danziger believes there has been a shift from a products-based business to a people-based business and retailers need to accommodate this shift.
These "shops that pop" have 7 distinctive features that they share that attract consumers:
.Involvement - encourages the customers to touch, feel, taste and try on
.Curiosity - invites consumers to explore and experience
.Contagious - exudes energy and excitement
.Convergence - captures all the tangible and intangible elements
.Authenticity - conceptually driven
.Price/value - superior value at a reasonable cost
.Accessibility- freedom from pretensions and exclusivity
She uses a mathematical formula to describe the Four Essential values that factor into a shopper's decision to buy: P=(N+F+A)E2
P -Propensity for a shopper to buy
N - Need, which simulates shopping (desire drives purchases)
F - Features, the hot button that pushes the shopper to buy, what makes one item more attractive than another
A - Affordabilty, the shopper is more apt to buy even if they don't need it if they will "save money"
E - Emotion,magnifies need and is how retailers manipulate shoppers to buy
Desire is something they can build and is an emotional response, which is significant, because emotion is the dominant factor. In part 2 of her book, Danziger turns her attention from the consumer to the retailers themselves.
She identifies the pop! Equation:
.Encourages high levels of customer involvement and interaction, shoppers are not just passive observers
.Evokes shopper curiosity, invite consumers to explore and experience
.Has a contagious, electric quality, exudes energy and excitement
.Presents a convergence between atmosphere, store design and merchandise, these elements work together to create a special place to shop
.Expresses an authentic concept, has personality and charm
.Priced right for the value, offers good value at a reasonable price
.Offers an environment that is accessible, nonexclusive and free from pretensions, makes the shopper feel welcome
So what exactly does it take to succeed in retail in the future?
"Love your customers by making shopping in your store truly a special experience," Danziger explains. "The focus for retailing success in the future is not so much what you sell but how you sell it."