Five (5) Key Issues Facing Today’s Shoppers That Retailer Must Recognize – LIVE Report @ Forrester Consumer Forum 2008

LIVE Report @ Forrester Consumer Forum 2008
Speaker: Paco Underhill, Author, Why We Buy: The Science Of Shopping, and Founder and CEO, Envirosell

Five (5) Key Issues Facing Today’s Shoppers That Retailer Must Recognize:

1. The visual language is evolving faster than spoken language

Example: With an ever increasing aging population (that is the most affluent customer segment), retailers need to be more cognizant of eyesight issues that come with maturity that result in color, changing light and contrast not being seen the same way as the young 25 year designer that is coming up with visuals. One of the largest physiological drivers of this is the yellowing of the cornea and lens that occurs with age.

2. The retail world is owned, managed and designed by men, BUT women are expected to participate and shop within this non-female friendly environment

Example: The “butt-brush factor“.  Ladies are apt to stop browsing if anything rubs against their rear ends. Envirosell caught this on film in a big department store, as shoppers perused men’s ties in a narrow aisle. When the tie rack was moved to a wider aisle, the extra tie sales paid for Envirosell’s services in a paltry six weeks.

3. Shoppers are increasing more “time poor” than “money poor”

Example: Retailers need to embracing pre-shopping on the internet for larger durable purchases as these type of goods require additional information. Having shoppers come in prepared is in the stores best interest

4. The definitions of ‘Local’ and ‘Global’ are becoming really blurred as well as the ‘Store’ and ‘Online’

Example: Blockbuster, Borders Books and Best Buy have all been pushing in-store connectivity to aid the in-store shopping experience

5. Maslow’s hierarchy of needs is being re-ordered all the time

Example: In a recent global behavioral study, a majority of participants first paid their mobile phone bills BEFORE their grocery bills