Shopper Insights must be integrated into each Category, Brand or Sales Strategies: they are just critical for every Teams. In this blog, we provide a simple and practical approach to understand these insights, decode their meaning and translate them into practical actions. A must-know for Sales, Category, Marketing and Insights Teams
Step 1: Identify My Brand Challenges
Objective
- Identify if we have traffic challenges by using the Number of Baskets KPI
- Identify if we have spending challenge by using Value per Basket KPI
Methodology
- Select the periods to compare
- For Traffic challenges identification, we will be comparing My Brand’s Number of Baskets
- For Spending challenges identification, we will be comparing My Brand’s Value per Basket
Identify Opportunities
- Conclude whether I have the challenge in Traffic or Spending
Step 2: Identify The Scenarios
Objective
- Identify why my brand lost shoppers: lost to other brands, or category Traffic decreased, or store traffic decreased
- Identify why Shoppers spend lesson my brand: spend less oncategory level or store level
Methodology
- Review brand switching to identifycompetitors who gained my Shoppers
- Review category & store traffic, whichimpact my brand’s penetration
- Review Shoppers’ wallet share & valueper basket, which has consequences onmy brand’s spending
What needs to be done
- Identify what impacts my brand’s performance: traffic or spending
- Which competitors caused my brand to lose its Shoppers
- What amount are my shoppers ready to spend to purchase this type products
Step 3: Select The Right Action Plan
Objective
- Gain my Shoppers back
- Drive my brand’s traffic
- Increase my brand’s spending
Methodology
- Review my brand’s promotion performance & activities
- Review my brand’s innovation & newitems
- Review my products’ availability &visibility
What needs to be done
- Build up solid promotion plans: drive traffic or increase spending
- Launch new items
- Propose cross merchandising: display or selling
