Bala Mallela, Senior Director Category and Shopper Insights, Kimberly-Clark, presented today Definitely Gen Z: 78 Million Shoppers Loyal For Life
$5oB market for 2020 in the Baby and Childcare Category. How will you win Gen Z’s loyalty? A quarter of the population is under 18.
50% of teens are shopping online. 20% of girls under 12 regularly visit online shopping sites. This behavior will carry over into tomorrow.
5 universal truths about Gen Z:
1. Unbound Reality: they don’t treat physical and virtual worlds as separate, literally they have the world at their fingertips. Expects tech to be highly integrated.
Blend the physical and virtual reality: provide a seamless experience
2. Open & Real: Demands an honest dialogue with brands and retailers. They don’t want to just listen to you, they want a two way conversation.
Make real conversations, show her you know her.
3. Always connected, never alone: Always on with friends and connections, and information.
Technology is perceived as essential to survival, breaks all age, income and cultural barriers.
Always be there – be there on their terms.
4. Creative Soul: rather artistic, always looking to personalize and curates/shares content both owned and advocating.
Expresses herself through purchases but retail assortment is sometimes one-size-fits-all.
Provide a unique experience: enable customization, give her control, evolve with her – cocreate with her
5. Heart of Gold: She has an expansive worldview and cause conscious one.
Help them make a difference in the world.
Follow these tips to win this shopper forever.
ABOUT THE AUTHOR
Formerly a senior copy editor at Thomson Reuters, a research editor at AOL, and a senior web publicist at Hachette Book Group, Valerie M. Russo is editor at large of The Front End of Innovation Blog, The Market Research Event Blog, The World Future Trends Tumblr, the Digital Impact Blog, and also blogs at Literanista.net. She is the innovation lead and senior social media strategist for the Marketing and Business Strategy Division of the Institute for International Research, an Informa LLC., and her poetry was published in Regrets Only on sale at the MOMA Gift Shop. Her background is in Anthropology and English Literature. You can reach her at firstname.lastname@example.org or @Literanista.
The 14th Annual Shopper Insights in Action Conference started off strong with an opening keynote speech from Paul Roth, President of Retail Sales and Service at AT&T Inc.
The discussion focused on the current retail experience and how retailers, including AT&T, can stay relevant well into the future. In order to do so, Roth and his team identified retail’s “pure purpose.”
The concept of Pure Purpose:
Customers’ want every aspect of their experience to be integrated, from in store to online. They are looking for an emotionally engaging, highly personal experience every step of the way.
AT&T has taken years of collected consumer insight and implemented a system to meet the ever changing needs of their customer base.
What AT&T has done:
The results of their findings led AT&T to realize that customers want a knowledgeable staff as well as a personal experience. AT&T is leading the charge in changing from the traditional transaction and exchange method of retail to an interactional method. They want their costumers to feel like they have a relationship with the brand.
Mr. Roth concluded by reiterating that the future of retail depends on brands creating a highly engaging experience as well as fully integrating their social and online experiences.
There is still time to register for the 14th Annual Shopper Insights in Action Conference in Chicago, IL, next Monday through Wednesday (walk-ins are welcome). If you are unable to join us, don’t fret, we will be live tweeting and blogging.
Live coverage begins Monday, July 14, 2014. I will be blogging and tweeting throughout the three-day event along with a great team of others.
Follow the official hashtag #shopper360 for tweets on anything you may have missed during the event.
Also, follow us on twitter @shopper360 and join the conversation by tagging your tweets with #shopper360
Photos will be posted to Facebook/Flickr and video will be available later on YouTube/Vimeo. You can also add your own photos to our group pool. For all the info regarding the vent and all of the live coverage visit www.shopperinsightevent.com.
Before you arrive, download the Shopper Connect app from iTunes or the Android store in order to make the most of your time at the even next week. Registered attendees can view who will be in attendance, request meetings with other members, create a personal event schedule, and manage the entire network directly from your web-enabled device.
Things to Keep in Mind
We encourage you to bring a light jacket or sweater as the conference space may get chilly. You can check the forecast for Chicago here.
If you need anything, please find a member of our team, we’ll be wearing our Shopper Insights in Action T-shirts or send us a tweet.
See you there!
ABOUT THE AUTHOR
Ryan Polachi is a contributing writer concentrating his focus on Marketing, Finance and Innovation. He can be reached at rpolachi@IIRUSA.com.
Petco VP Reviews New Breed of Retailer Research
By Marc Dresner, IIR
Retailers these days are rethinking research.
It’s not just in response to competitive pressure; it’s about keeping up with the shopper.
Take Petco, for example. The nationwide pet supply chain is making significant changes to its in-house research capabilities to adapt to the rapid—and rapidly accelerating—pace of change.
“You really can’t stand still anymore. Everything is changing on a daily basis.”
“The speed at which retail is changing is monumental. You really can’t stand still anymore,” said Petco VP of Private Brands Kathryn Henkens.
“Everything is changing on a daily basis. Customer expectations of retailers are so much greater,” she added.
“We are constantly learning and responding and adapting and adjusting and revising things on an ongoing basis, because if we don’t do that, we’ll be behind the curve,” Henkens told The Research Insighter.
Retailers have historically leaned heavily on the brands lining their shelves and on external suppliers for research.
And while that’s still the case, Henkens says national chains like Petco are beefing up their internal research capabilities in part because Big Data demands it.
“The biggest challenge that I see in retail today is pulling all of the data together.”
“There are tons of data today,” said Henkens. “The biggest challenge that I see in retail today is pulling all of that data together.”
Connecting all the data dots internally and with the help of partners, Henkens says, will be essential to drive decisions—something not done with a rearview mirror.
“A lot of research looks backward. We need to look forward.”
“A lot of research looks backward,” said Henkens. “We need to look forward to understand how things are going to impact retailing tomorrow and farther out.”
In this podcast with The Research Insighter—the official interview series of Shopper Insights in Action—Henkens reviews:
• How Petco is consolidating and synthesizing research
• The importance of bringing research agencies together
• Millennials and Baby Boomers: Do they shop differently? And more…
Editor’s Note: Kathryn Henkens will be featured on a special keynote panel—“Retail, Strategy and the Shopper”—at the 14th Annual Shopper Insights in Action July 14-16 in Chicago.
For more information or to register, please visit www.shopperinsightsevent.com
ABOUT THE AUTHOR/INTERVIEWER
Marc Dresner is IIR USA’s sr. editor and special communication project lead. He is the former executive editor of Research Business Report, a confidential newsletter for the marketing research and consumer insights industry. He may be reached at email@example.com. Follow him @mdrezz.
In less than 2 short weeks, we’re offering you the opportunity to meet with your shopper/consumer/customer researcher, category leader, shopper marketer, merchandiser and retailer peers to create your impact on the future of retail, strategy and activation at the 14th annual Shopper Insights in Action.
Take a look at all the companies already confirmed to participate:
Advantage Sales & Marketing
ATK Federal Cartridge Company
Big Heart Pet Brands
Brown Forman Corporation
Bush Brothers & Company
C + R Research
Campbell Soup Company
CNS Media BV
Dean Foods Company
Directions Research Inc
E & J Gallo Winery
Elanco Animal Health
Energizer Personal Care
Estee Lauder Companies
Farmland Foods Inc
Golden Gate University
Gorrie Marketing Services
Great Northern Corp
Harbor Industries Inc
Integrated Research Associates
Interbrand Design Forum
Jay H Baker Retailing Center Whart
Jo Ann Fabric & Craft Stores
Johnsonville Sausage LLC
Kellogg Company Mexico
Lego Systems Inc
Marketing Store Worldwide
McCormick & Company Inc
MTD Products Inc
National Confectioners Association
Neenah Paper Inc
Nestle Purina Pet Care
Novartis Consumer Health
Omega Pharma NV
Open Mind Strategy
Pacific World Cosmetics
Perception Research Services
PETCO Animal Supplies Inc
Pfizer Consumer Healthcare
Philips Consumer Lifestyle
Pinch A Penny Inc
Pinnacle Foods Group
Post Foods Canada Premio Foods
Procter & Gamble
Publix Super Markets Inc
Radius Global Market Research
Sanitarium Health & Wellbeing Co
Sargento Foods Inc
Scripps Networks Interactive
Sentient Decision Science
Smucker Foods of Canada
Strack Van Til
Talent EDGE Recruiting LLC
The Clorox Company
The Coca-Cola Company
The Hershey Company
The Home Depot
The Marketing Store Worldwide
The Sound Research
The Weather Channel
Theory House Shopper Marketing
TimBar Packaging & Display
TNS Kantar Retail
Tobii Technology Inc
True Value Company
Vision Insights Group Inc
Walt Disney Parks & Resorts
William Grant and Sons Ltd
Wuptidotcom A S
Yale School of Management
Don’t get left behind! We’re holding a seat just for you. Register and save 15% off the standard rate today.
We’ll see you at the Navy Pier in Chicago.
According to Robin D. Hafitz, “Passion has become the preferred currency for Millennials, who participate, trade, barter, create and consume in a passion economy of products, services, ideas and memes. Kickstarter, Quirky, Lululemon, reddit, Twitter, Etsy, etc., are brands, platforms and channels that “get” the passion economy and are attracting millennials.”
Her clients have included The Food Network, AMC, USA Network, USA Today, Syfy, Yahoo!, Viacom, Newsweek, and many others.
Today we had a chance to talk shop with Robin, here’s what she shared about her own retail experiences:
She loves to shop here:
Lately, I love to shop at Eataly in New York City. It is often way too crowded, it is always difficult to navigate, and it sometimes involves long lines. And yet, I love shopping there. The mix of people eating with people shopping, the feeling of authenticity and specialness about the food, and the fact that I can drink a glass of wine while picking out a ripe avocado make it well worth the annoyances. Expect to see more of these tourist-attracting, agora-like shopping meccas created in the coming years, as retailers see the benefits of merging shopping and entertainment.
Her Guilty (Shopping) Pleasure:
Net-a-porter is my guilty shopping pleasure. They turn shopping into content, and content into shopping, in a way that I often find irresistible. Receiving a box from them gives me a thrill — the packaging is so distinctive. And the fact that returns are always handled perfectly makes me feel safe picking out (sometimes very) expensive things on the internet.
Her Retail Pet Peeve:
Always being asked at check-out, “Did you find everything okay?” If I didn’t, it’s probably too late at this point for my dissatisfaction to be addressed.
It’s Time to Retire ______:
In the research industry, I’m driven crazy by researchers who don’t respect the people they research. My least favorite way that I’ve ever heard human beings described is as “pieces of sample.” ”P.O.S.” That stands for something else, too. I believe strongly in respecting consumers and their opinions, and in using language that reflects that respect.
Her Random, Fun Fact:
I was a Peace Corps baby, born in Africa.
Robin will deliver a keynote address, Welcome to the Passion Economy: Winning by Connecting with Passion, at the 14th Annual Shopper Insights in Action Conference, taking place on July 14-16, 2014 in Chicago. Join us to bring on the passion – and synthesize activation across platforms, channels and partners.
Over the years, we have had the opportunity to discuss the retail industry with James Sorensen, the Senior Vice President of Retail and Shopper at TNS Global – Kantar Retail, a few times. Whether it’s what the past 20 years of In-Store Research or what to expect in 2020 or the Misconceptions and key challenges germane to Virtual Reality Retail Research, he’s always been optimistic about the future of the Transforming Shopper and the implications for those in insights, consumer behavior, merchandising, category management, analytics and digital marketing.
Recently we had a chance to ask him some more personal questions and here’s what he had to say:
Where he shops:
I don’t. Shopping is always a chore.
Retail Pet Peeve:
Promoting products using the most valuable real estate in the store. Most promoted products would be bought at full price on displays, end caps, etc.
Question that he gets asked way too much:
“How do I engage the shopper so they will spend more time in my store?”
Answer: You can’t (or shouldn’t). Shoppers want to get done and get out. Shopping isn’t an event, it is a detour on their way to the rest of their lives.
The Store of the future?
No store. Merchandise I need just shows up.
In the video below, Dan Boehm and James Sorensen from TNS Retail and Shopper discuss what you can start doing to better market towards shoppers’ different thinking states:
We’re looking forward to learning more about the Future Store and the Transforming Shopper, which he present along with Shannon Irving, Retail & Shopper Insights Manager, Category & Shopper COE at Nestle USA, at the 14th Annual Shopper Insights in Action, taking place July 14-16, 2014, in Chicago. We hope to see you there!