The Third Place
A TREND. iNSIGHT report compiled by Publishing Editor Louise Marsland (@trendlives)
p 1. Snapshot
p 2. #TREND.ing
p 3. Shopper marketing
- Shopper tribes
- Mall rats
- A cautionary tale
- Packaged solutions
p 4. Specimens
- Destination shopping
- Solid foundation for Revlon campaign
p 5. Extra credit
p 5. Sources
Live models in Guess window displays, mobile coupons from Shoprite, a loyalty card with instant rewards from Foschini, special offers for Facebook fans of major shopping centres, two-for-one food deals at Woolworths…
The retail trading environment is tough and it is only getting tougher as recession-hit consumers shop for value and for the best deals they can get.
Retailers and brands are scrambling to keep up and the increasingly competitive trading environment in store has spawned a myriad of new media options in the last few years, aided by digital innovation and with the aim of targeting a consumer that is ever harder to please.
We spend so much time in malls that they are referred to as our ‘Third Place’ – after home and the office.
Malls have become the leading entertainment and leisure destinations in this 21st Century world. And a captive consumer enjoying themselves is a consumer ripe for the picking, as retailers and marketers have discovered, hence the boom of mall and in store media in the last decade.
Shopper marketing has become a retail science all of its own and a mass medium that is taking an ever greater slice of the marketing pie.
Depending on who you talk to, the fact is that between 68% and 72% of purchasing decisions are made in store – in the aisle, at the shelf.
Research has shown that shoppers organise their shopping trips around the type of experiences that they want to have, not only around what they need to do.
However, as we go into year five or six (depending on which region of the world you live in) of the world’s worst recorded global depression, the consumer is a different animal these days: in the main price conscious, cash-strapped, stressed and with a powerful voice, handed to them by technological and digital evolution in the last few years.
The key word is VALUE. Retailers and brands have discovered that they need to enrich the lives of their customer-base. And to be able to do so, they need to get to know them very well.
The era of marketing to the individual is upon us.