Within a saturated market, retailers cannot drive demand without first understanding new and prospective shoppers. This consumer-led strategy requires that retailers know who their shoppers are, what they want and need, what they value, and how they see the world. Only then is it possible to build a retail concept, brand, and experience that stands out from the competition.
While understanding existing shoppers will help retailers retain them and increase the frequency of purchases, at some stage retailers are unable to grow without attracting new shoppers. Winning new shoppers is especially important as customers become less loyal to retailers. As GfK insights show, there is not one shopper that buys a category from the same retailer, in any situation.
Generating demand is different for each type of retailer. This is impacted by how often retailers see the same shopper in their virtual or brick-and-mortar store and depends on the categories they sell. For instance, according to GfK research, close to 90% of consumers in Great Britain go grocery shopping at least once a week. In contrast, about 70% of people shop less than once per month for tech and durables products.
