Shopper seems to be the new ‘it’ word as companies start to recognise the importance of understanding the person who is making the decision on whether to buy or not. Investment in shopper marketing has more than doubled in most companies in the last five years. Suppliers are seeing the benefits of this investment through savings in trade spend, category, brand growth and retailer relationships.
So how do you start to get some of these rewards?
Understanding your category, brand and shopper is not enough. Retailers want shopper focused strategies and are asking for suppliers to help them build these.
“It is worth the investment (in $ and time), however it is essential that you "work the data hard" within your business.
As retailers, we use it extensively and refer to it constantly, however, we find suppliers use it to a much lesser extent (some - not at all).
“It is critical that suppliers understand what is most important to retailers and engage accordingly” -
Major Retailer, Shopper Tracker Feedback 2015.
Although it is important to understand your category, it is key to be able to understand how the retailer will view your category. Ask yourself – “How does your category differentiate versus other categories in store?” “What specific strategies can your category help the retailer deliver?” “What assets does your brand bring to the table to deliver on these strategies?”
Talk to your retailers using a common language and growth opportunities.
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Nancy Truscott is the Director of Grocery & Liquor Programs at Shopper Tracker Australia.
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